A return is a document that needs to be furnished by a taxpayer in order to pay the tax liability to the GST authorities and to avail of input tax credit (ITC). The registered taxable person must have documents that are GST compliant such as sales invoices, purchase invoices, debit notes, credit notes, bill of …
The due date for furnishing Annual GST Returns (GSTR 9 and 9C Form) for the financial year (FY) 2019-20 is delayed by the CBIC to 28th February 2021 based on challenges faced by the companies due to COVID-19. Before this, the due date for filing Annual GST Return (GSTR-9 and GSTR-9C) was 31st December. What …
In this blog, we will know how a transporter can generate e-way bill using e-invoices. So, before moving straight, let us know the recent notification and facts related to e-invoicing: E-Invoicing Recap E-Invoicing system was successfully implemented in India on 1st Oct 2020 for the taxpayers having yearly turnover more than INR 500 Crores who …
The third phase of e-invoicing covered businesses with an INR 100 Crores turnover. The next phase of e-invoicing will get implemented from April 1, 2022, which is only 7 days away for the businesses with turnover INR 20 Crores or more in the previous Financial Year. Benefits of E-invoicing The implementation of e-invoicing will also …
Immediate deployment of an ERP-based e-invoicing solution is the most critical need of the hour for businesses with INR 20+ Crores and above turnover. With the fast-approaching deadline of January 1, 2021, it is becoming a teething problem for businesses who have yet not finalized any e-invoicing solution for them. To cover-up for this last-minute …
From the financial year 2019-20, the composition scheme holder needs to file CMP-08 every quarter and GSTR-4 annually. In this article, we will know everything about GSTR-4 an annual GST return. What is GSTR-4? GSTR-4 is an annual GST return that needs to be furnished by a composition dealer annually until the financial year 2018-19, …
In this blog, we will try to cover every little concept related to GSTR-6A: What is GSTR-6A? GSTR-6A is a read-only system-generated statement of inward supplies for an Input Service Distributor (ISD). Generation of GSTR-6A The GSTR-6A will get auto-generated under the following circumstances: When the supplier uploads the invoices in GSTR-1 and GSTR-5. The …
In this blog, we will try to cover all the aspects of how you can avoid late fees by filing GST Annual Returns (GSTR- 9 & 9C) on or before 31st December 2020. Taxpayer: Which GST Return needs to be file before 31st Dec 2020? GSTrobo®: Here is the list of returns that needs to be filed …
Since the introduction of GST in India, several GST return forms have been implemented and GSTR-3B is one such GST return form. In this blog, we will discuss what the GSTR-3B form is and its applicability. What is GSTR-3B? GSTR-3B is a monthly self-declaration form that needs to be furnished by all the registered taxable …
