Compliances
GST Compliance Services by Chartered Accountants
Introduction The implementation of the Goods and Services Tax (GST) in India marked a significant transformation in the country's indirect tax system. While it brought about uniformity and transparency, it also introduced new compliance ...
How To Start New Business for Aerospace and Defense
India's Aerospace and Defense (A&D) sector is witnessing remarkable growth, driven by increasing domestic demand, supportive government policies, and the "Make in India" initiative. For entrepreneurs and enterprises, entering this high-potential ...
GST Applicability & Tax Rates on Export of Goods & Services
?✈️ A clear guide for exporters under India’s GST regime India’s Goods and Services Tax (GST) regime has significantly reshaped the landscape of indirect taxation. For exporters, the rules are notably favorable, aiming to make Indian goods and ...
Compliance with NSE and BSE Listing Regulations in Bangalore
With Bangalore emerging as India’s Silicon Valley and a thriving hub for tech startups and corporate giants, listing on the NSE (National Stock Exchange) or BSE (Bombay Stock Exchange) is a powerful move for companies seeking credibility, growth ...
Last Chance to do GST Rectifications relating to Previous Financial year
According to the GST Act, there is no provision for filing revised returns. Consequently, once GSTR-1 and GSTR-3B are filed, they cannot be revised. Any necessary corrections, additions, or reductions in outward supplies, Input Tax Credit (ITC) ...
How to file GST returns in Bangalore?
INTRODUCTION: Goods and Services Tax (GST) has revolutionized the Indian tax system by replacing multiple indirect taxes with a single, unified tax regime. For businesses operating in Bangalore, the process of filing GST returns is crucial for ...
GST Invoicing in Case of Online Aggregators like Urban Company, Ola or Uber
To understand the affect of GST on UrbanClap we have to understand what type of business transactions does urbanclap does. What is Urbanclap? UrbanClap is a platform to make our urban lives more fulfilling to solve our needs in a clap. Hence the ...
Form DRC-01C for ITC Mismatches in GSTR-2B and GSTR-3B
Rule 88D of the CGST Rules: "88D. Manner of dealing with difference in input tax credit available in auto-generated statement containing the details of input tax credit and that availed in return.- (1) Where the amount of input tax credit availed by ...
Decisions in 50th Meeting of the GST Council
The Goods and Services Tax (GST) Council, at its 50th meeting on July 11, reduced or clarified the tax rate on some items ranging from uncooked or unfried snack pellets to special utility vehicles (SUVs), exempted imported drugs to treat cancer and ...
GST compliance for Healthcare Providers in India
The implementation of the Goods and Services Tax (GST) in India has brought significant changes to the taxation system. It aims to streamline the indirect taxation structure and create a unified market across the country. Healthcare providers, ...
GST compliance for IT Companies in India
The Goods and Services Tax (GST) was implemented in India on July 1, 2017, with the aim of simplifying the taxation system and unifying various indirect taxes across the country. For IT companies operating in India, understanding and adhering to GST ...
GST compliance for Real Estate Developers in India
Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services in India. Implemented on July 1, 2017, GST brought about a major reform in the country's taxation system. For real estate developers, GST ...
GST compliance for Restaurants in India
Goods and Services Tax (GST) compliance for restaurants in India is governed by the Goods and Services Tax Act, 2017. Here are some key aspects of GST compliance for restaurants: 1. Registration Restaurants in India are required to register for GST ...
GST compliance for Wholesalers in India
Goods and Services Tax (GST) is an indirect tax system that has transformed the way businesses operate in India. For wholesalers, GST compliance is crucial to ensure adherence to the tax regulations and avoid penalties. This comprehensive guide ...
GST compliance for Retailers in India
The Goods and Services Tax (GST) is a unified indirect tax system implemented in India on July 1, 2017. It replaced multiple state and central taxes, streamlining the taxation process and fostering a more transparent and efficient business ...
GST Compliance for Traders in India
The Goods and Services Tax (GST) is an indirect tax system that has been implemented in India since July 1, 2017. It replaced multiple indirect taxes such as excise duty, service tax, and value-added tax (VAT), bringing them under a single unified ...
GST compliance for Contractors in India
The implementation of the Goods and Services Tax (GST) in India has had a significant impact on the way businesses operate and manage their tax obligations. Contractors, who provide various services in the construction, infrastructure, and other ...
GST compliance for Manufacturers in India
The introduction of the Goods and Services Tax (GST) in India has brought about significant changes in the country's tax regime. As a manufacturer, it is essential to understand and comply with GST regulations to ensure smooth operations and avoid ...
GST compliance for Service providers in India
The implementation of the Goods and Services Tax (GST) in India brought about significant changes in the taxation landscape, impacting service providers across the country. Complying with GST regulations can initially seem daunting, but with a clear ...
GST compliance for E-commerce businesses in India
The introduction of the Goods and Services Tax (GST) in India has significantly transformed the taxation landscape, streamlining the tax structure and unifying the country's indirect taxes. For e-commerce businesses, compliance with GST regulations ...
GST Compliance due dates in India
Goods and Services Tax (GST) is an indirect tax system that has transformed India's taxation landscape. It has replaced multiple indirect taxes levied by the central and state governments, streamlining the taxation process and fostering ease of doing ...
GST Compliance Software in India
GST compliance software refers to specialized digital tools designed to help businesses manage their GST-related activities effectively. These software solutions simplify various tasks such as GST registration, return filing, invoicing, ...
GST Compliance Checklist in India
The Goods and Services Tax (GST) is an indirect tax system that has revolutionized the Indian tax structure. Implemented in July 2017, GST has brought about a significant transformation in the country's taxation landscape. To ensure smooth compliance ...
GST Returns filing in India
Goods and Services Tax (GST) is a unified indirect tax regime implemented in India on July 1, 2017. It replaced multiple indirect taxes, such as excise duty, service tax, and value-added tax (VAT). GST transformed the Indian tax system by ...
How to Generate e way Bill for Unregistered Buyer
E-Way Bill in case of Sale by Unregistered Person In case the movement of goods is done by a person who is not registered under GST, either in his own conveyance or through a hired conveyance or through a transporter, the e-way bill in such a case ...
GST Invoicing Meaning
Invoicing Under GST As a GST registered dealer, you are required to provide GST Invoices, also known as GST bill to your clients. Here, we will be covering the following aspects of GST Invoices: What is a GST Invoice? An invoice or a GST bill is a ...
QRMP Scheme under GST
Quarterly Return Filing and Monthly Payment of Taxes (QRMP) Scheme under GST Who is eligible for the QRMP scheme? A registered person who is required to furnish a return in GSTR-3B, and who has an aggregate turnover of up to Rs.5 crore in the ...
What is the Process to File Goods and Service Tax Return?
A GST return is a document containing details of all income/sales and/or expenses/purchases that a GST-registered taxpayer (every GSTIN) is required to file with the tax administrative authorities. This is used by tax authorities to calculate net tax ...
What is the Limit for getting GST Audit Done?
GSTR-9C is an annual GST reconciliation statement that underwent a major change in 2021. The Form GSTR-9C was earlier applicable to businesses with more than Rs.2 crore as annual turnover in a particular financial year. It required the audit of books ...
Calculation of GST Annual Return Late Fee?
The Goods and Services Tax (GST), introduced in 2017 as a completely new taxation regime, has undergone several amendments since its launch. These amendments have often caused confusion among taxpayers, leading to multiple extensions of deadlines for ...
What are the Gst Annual Return Due Date?
How to File GST Annual Return Implemented in India from 1st July 2017. Over 1.3 crore businesses in India have been registered and issued GST registration under the new GST regime. The entities registered under GST must file annual returns as per ...
What is the Turnover Limit for GST Audit?
As per the Finance Act, 2021, the requirement of GST audit and submission of GSTR-9C as certified by the CA/CMA was removed. As per the 43rd GST Council meeting that was held on 28th May 2021, the GST Council recommended that GSTR-9C may be still ...
Is ther Any Option for Revising the GST Return?
What is Amendment of Returns? One of the key changes introduced in the new return filing system is the facility to amend a return, once filed. Currently, GST returns cannot be amended, and errors, if any, can only be rectified by making an amendment ...
How to file Amendments in GST Returns?
The GST Council has introduced a new return filing system with one main return FORM GST RET-1 and two Annexures. In FORM GST ANX-1, a taxpayer has to report details of all outward supplies, inward supplies on a reverse charge basis and import of ...
Penalty for Late Filing of GST Return
What is GST Return Form? GST Return Form is a document containing details of all purchases, sales, output GST (on sales) and input tax credit (GST paid on purchases) to calculate an assessee’s GST liability for a particular tax period. Currently GST ...
What are the Returns & Compliances under GST?
What is GST Return? GST return is an official document that furnishes all the purchases, sales, tax paid on purchases, and tax collected on sales-related details. The GST returns is required to be filed, following which the taxpayer has to pay off ...
Facilities on the einvoice1.gst.gov.in
einvoice1.gst.gov.in or the e-invoice portal is the first invoice registration portal maintained by the National Informatics Centre (NIC) for generating IRN for e-invoices. The e-invoicing system became applicable on 1st October 2020. There are ...
What If GST Return Not Filed For 6 Months
Late Fees and Interest on GST Return Late fees and interest form important components of the Goods and Services Tax (GST) payment and are incurred by businesses in case of delay in submitting or filing GST returns. The article covers all the latest ...
Input Tax Credit rules under GST
Input Tax Credit of CGST/ SGST/ UTGST/ IGST GST comprises the following levies:- Central Goods and Services Tax (CGST) [also known as Central Tax] is levied on intra-state or intra-union territory on the supply of goods or services or both. State ...
What is the GST annual return last date?
GSTR-9 GSTR-9 is the annual return to be filed by taxpayers registered under GST. As per the GST law, it is due by 31st December of the year following the relevant financial year. It contains the details of all outward supplies made, inward supplies ...
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