Recently, the GSTR-1 returns filing system on the GST common portal incorporated two new Tables 14 & 15. These tables aim to capture details regarding supplies made through e-commerce operators (ECO), wherein the ECO is responsible for collecting tax under Section 52 of the CGST Act or paying tax under Section 9(5) of the CGST Act. …
As we approach the onset of the new fiscal year, there is excitement regarding the interim budget for 2024-25 and the key budget expectations. The economic terrain has experienced both difficulties and successes, and there is an eagerness among both citizens and businesses to grasp the government’s strategy for the future. Today, we will look …
We’re seeing a broad adoption of the Goods and Services Tax and GST regulations in India as it gets closer to its sixth year of implementation among the government and taxpayers. Over time, GST regulations have progressively assimilated into a wide range of sectors, consulting firms, and other pertinent organizations. Due to the complex nature …
Introduction: In today’s business world, supply chains act like highways for goods. As companies focus more on being eco-friendly, they’re rethinking how they manage their supply chains. One big change is the introduction of e-way bill integration. These are digital papers that help goods move smoothly, making it easier to manage supply chains sustainably. Understanding …
The GST landscape is ever-changing, and the significant GST changes in 2023 will have a lasting impact on the fiscal environment beyond the coming years. Businesses and individuals must comprehend these GST changes and adjust to the modified tax setting. These GST changes will help to improve the GST system of India. It will help …
A Regular GST Taxpayer? Get Balanced Basics Of GSTR-9 1. What is GSTR-9? The GST Annual Return, GSTR-9 is a mandatory filing for all registered taxpayers, regardless of their business turnover. This comprehensive return includes specific information like inward and outward supplies, tax payments, refunds requested, any outstanding payments, and the Input Tax Credit (ITC) …
What is GSTR-9C? On 13th September 2018, GSTR-9C was introduced in GST Law. Under GST, GSTR 9C is an annual audit form that the applicable taxpayers shall furnish. In addition to this GST Audit form, the taxpayer must file the GST reconciliation statement and the audited copies of the annual financial statements as specified under …
GSTR-9 is the GST annual return filling that a taxpayer is required to file on or before 31st December of every year. It is a consolidated summary of the year’s financial statement where the taxpayer compares the purchase and sales registers and compares and reconciles their GSTR-9 and GSTR-9C with the GSTR-1 and GSTR-3B. Subsequently, …
Public relations or PR activities assist a company in marketing and presenting itself to the industry more effectively. However, many seldom forget the relevance of managing compliance and leveraging it to a company’s brand advantage. You might not need to spend lakhs on PR activities but rather keep your compliance game straight to put up …
