Blogs
E-invoicing in GST is considered to be one of the major compliance measures in India for businesses. However, not all businesses are required to comply with it. This is because E-Invoicing applicability in India depends on multiple aspects like business…
What is GSTR-9C? GSTR-9C was introduced into GST Law on September 13, 2018. It’s an annual audit form that certain taxpayers must submit under GST. Along with this form, taxpayers need to file a GST reconciliation statement and submit audited…
Goods and Service Tax regime brought with it a systematic process where buyers could claim credit for the tax paid to sellers by way of ITC. This system encourages compliance, as buyers can only claim Input Tax Credit (ITC) if…
GSTR-9 represents the annual return for Goods and Services Tax (GST) that must be submitted by taxpayers by December 31st each year. This return serves as a comprehensive summary of the financial activities for the year, allowing taxpayers to…
One of the standout features of the Goods and Services Tax (GST) system in India is the concept of Input Tax Credit (ITC). ITC allows a buyer to claim credit for the tax paid to the seller, thereby eliminating the…
Buyers and sellers exchanged millions of invoices every day- and yet, the process remained extremely labor-intensive and prone to manual errors for a long time. It was in September 2019 that the concept of E-Invoicing in GST was introduced. It…
In the 53rd Council meeting, the GST Council introduced several initiatives to ease compliance for taxpayers. Notably, among these is the introduction of Form GSTR-1A, an optional facility available from August 2024. This form allows taxpayers to amend details in…
Get ready for a significant update in your GST returns; CBIC’s Table 6.1 of GSTR-3B has been revamped with a new, game-changing update. This update, which includes ‘Adjustment for negative liability from previous tax period‘ in the case of Reverse…
The Budget 2024 is presented today in the capital city, New Delhi. The 2024 Union Budget of India introduces several transformative measures aimed at fostering economic growth, enhancing social welfare, and streamlining tax regulations. The budget emphasizes employment, skill…
GST notices serve as a communication tool between the department and the taxpayer. The department might issue a notice simply to request more information about a return filed by the taxpayer. In addition, the department may also issue notices to…
