DRC-01C Intimation under Rule 88D: Resolving ITC Mismatches Between GSTR-2B and GSTR-3B
TRENDING ARTICLE DRC-01C Intimation under Rule 88D: Resolving ITC Mismatches Between GSTR-2B and GSTR-3B When it comes to GST compliance in India, one of the key challenges businesses face is managing their Input Tax Credit (ITC) correctly. Rule 88D of the Central Goods and Services Tax (CGST) Act is designed to help businesses do just […]
How to Respond to Form DRC-01B Under GST: Addressing Liability Differences Between GSTR-1/IFF and GSTR-3B
TRENDING ARTICLE How to Respond to Form DRC-01B Under GST If you’re dealing with GST in India, you might come across Form DRC-01B. This form is a key part of the GST compliance process, used when the tax authorities want to clarify something about your returns. Knowing how to respond correctly is crucial to staying […]
What is the Reverse Charge Mechanism (RCM) in GST?
TRENDING ARTICLE What is the Reverse Charge Mechanism (RCM) in GST? Latest updates 23rd July 2024 In the Union Budget 2024, the Finance Minister proposed an amendment to Section 13 of the CGST Act to provide for the time of supply of services where the invoice is required to be issued by the recipient of […]
Understanding the QRMP Scheme under GST: A Simple Guide
TRENDING ARTICLE Understanding the QRMP Scheme under GST: A Simple Guide The Quarterly Return Filing and Monthly Payment (QRMP) scheme is a practical initiative by the Indian government to make GST compliance easier for small businesses. If your turnover is up to ₹5 crores, this scheme could be a game-changer by reducing the frequency of […]
What is Supply of Goods and Services under GST in India?
TRENDING ARTICLE What is Supply of Goods and Services under GST in India? The Goods and Services Tax (GST) is a game-changer in India’s tax landscape, simplifying the complex web of indirect taxes. To navigate this effectively, it’s essential to understand how GST treats the supply of goods and services. Let’s break it down in […]
Understanding GSTR-9 Annual Return: Your Go-To Guide
TRENDING ARTICLE Understanding GSTR-9 Annual Return: Your Go-To Guide Latest updates 53rd GST Council meeting As on 22nd June 2024, the Council has recommended to provide relaxation to taxpayers from filing GSTR-9/9A for FY 2023-24 where their aggregate annual turnover for the said financial year is below Rs.2 crore. This was notified via CGST notification […]
What is the difference between Nil Rated, Exempted, Zero Rated and Non-GST supplies?
TRENDING ARTICLE Difference Between Nil Rated, Exempted, Zero Rated, and Non-GST Supplies The introduction of GST on 1st July 2017 was a significant milestone in the realm of indirect tax reforms in India. By merging a myriad of Central and State taxes into a single tax, GST aimed to mitigate cascading or double taxation and […]
GST return filing and Types of GST returns explained
TRENDING ARTICLE GST Return Filing and Types of GST Returns Explained In India, the Goods and Services Tax (GST) is a key tax on goods and services. It aims to make tax systems the same all over the country. Businesses that are GST-registered must file their GST returns. They do this by sharing details of […]
GSTR-1 Filing Guide: Compliance Tips 2024, Step by Step guide, Format, Late Fees, Eligibility & Rules, Due Date
TRENDING ARTICLE GSTR-1 Filing Guide: Compliance Tips 2024, Step by Step guide, Format, Late Fees, Eligibility & Rules, Due Date Filing GSTR-1 is a vital task for businesses under the GST system. This guide will walk you through the basics, recent updates, and essential tips for filing GSTR-1 in 2024. Let’s make GSTR-1 filing easy […]
GSTR 10 Filing Guide: Simplify Your Final Return
TRENDING ARTICLE GSTR 10 Filing Guide: Simplify Your Final Return Filing your GSTR 10, also known as the Final Return, is a crucial step in the GST compliance process for businesses winding up their operations. This comprehensive guide will walk you through everything you need to know to simplify your GSTR 10 filing. Whether you’re […]