GSTR-6 is more than just a return; it's your avenue to efficiently distribute Input Tax Credit (ITC) across your organisation's branches. This process ensures compliance within the Goods and Services…
What is TCS under GST Tax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by it on behalf of the…
What is TCS under GST Tax Collected at Source (TCS) under GST means the tax collected by an e-commerce operator from the consideration received by it on behalf of the…
The Goods and Services Tax (GST) was implemented in India with the aim of creating a unified taxation system that would simplify the tax structure and promote economic growth. Along…
What is GSTR-8 return? GSTR-8 is a return to be filed by the e-commerce operators who are required to deduct TCS (Tax collected at source) under GST. GSTR-8 contains the…
What is GSTR-7? GSTR-7 is a monthly return filed by individuals who deduct tax at source. Every GST-registered individual who deducts TDS under GST must file Form GSTR-7 by the…
What is GSTR 2A? GSTR 2A is a purchase-related dynamic tax return that is automatically generated for each business by the GST portal. When a seller files his GSTR-1, the…
The introduction of the Goods and Services Tax (GST) in India has significantly overhauled the country's tax structure. The GSTR-7 return holds considerable importance in this new tax regime, primarily…
In the case of GSTR-7, businesses need to understand the calculation and payment process to ensure accuracy and avoid penalties. This article explores the intricacies of TDS liability calculation under…
As a taxpayer, it's essential to understand the consequences of not adhering to the GST rules and regulations. In this article, we will explore the various charges that can be…
In the case of GSTR-7, amendments and revisions are integral to maintaining compliance. To simplify the process, the government has introduced new changes that businesses must be aware of.This article…
Do you need clarification about the details for filing GSTR-7 for TDS (Tax Deducted at Source)? Look no further! This article will provide a clear and concise understanding of the…
Do you need help with the reconciliation of GSTR-6 with GSTR-2A? Fret not, as we have got you covered. This article will guide you through reconciling these two significant GST…
Filing your GSTR-7 accurately and on time is essential for ensuring compliance with tax regulations. Whether you are a business owner or a tax professional, understanding the timelines for filing…
Are you familiar with the applicability and registration requirements for GSTR-7? This article will provide you with all the information you need to know. From understanding the purpose of GSTR-7,…
This article presents the best practices for GSTR-6 compliance that every Input Service Distributor (ISD) needs to know. With the ever-changing tax regulations, staying updated and following the right procedures…
Are you a GST-registered taxpayer who files GSTR-6? Late fees and penalties for non-compliance in GSTR-6 can significantly impact your business. From late filing fees to interest charges, understanding these…
Are you familiar with the amendments and revisions in GSTR-6? The Goods and Services Tax Return-6 (GSTR-6) is an important document that must be filed by Input Service Distributors (ISDs)…
Unlocking the benefits of input tax credit (ITC) distribution and utilisation in GSTR-6 can be a game-changer for businesses. With the correct understanding and strategy, organisations can optimise their tax…
The significant advantage of GST is the availability of input tax credits throughout the supply chain, which are claimed based on self-assessment. However, the self-assessment-based approach for claiming ITC has…
The introduction of GST in India streamlined the indirect tax system, integrating a variety of taxes into one single unit, making compliance easier, lessening the burden of tax on the…
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Petitioner: Ocean Sparkle Ltd Respondent: Assistant Commissioner (ST) Court: In the High Court of Andhra Pradesh Facts of the Case: The case challenges an assessment order issued by the first…
GST on fruit, nuts and peels of citrus fruits and melons According to section 2 of chapter 8 of the GST Act, the GST tax rate and HSN code for…
Plastic products are classified under different HSN codes based on their specific characteristics and composition. The most common HSN code for plastic products is 39. This HSN code covers a…
With the implementation of GST system in India significant structural changes shaped businesses operate and pay taxes. One of the crucial aspects of GST is the job work HSN (Harmonized…
Do you start your mornings with a potent dose of caffeine from a freshly brewed cup of Joe? Or do you prefer a slightly less caffeinated nudge from a warm…
In the Evolving world of technology, computers and laptops have become an integral part of our daily lives. Whether for work, education, communication or entertainment, these devices have become fundamental…
India is known for its rich agricultural heritage, producing a wide variety of cereals, including rice, wheat, barley, and more, with the introduction of the Goods and Services Tax (GST)…
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What is HSN Code HSN stands for ‘Harmonized System Nomenclature’. The WCO (World Customs Organization) developed It is a multipurpose international product nomenclature that first came into effect in 1988…
GSTR- 2B is a form circulated by the Goods and Services Tax Network, which includes every detail of inward supplies of goods and services received from the registered suppliers. GSTR-…
In today’s dynamic business era, staying updated about Goods and Services Tax (GST) regulations is crucial for every business. GSTR-2 B offers seamless features which help businesses increase transparency between…
Tax compliance can be complex for some individuals to understand, and in the realm of Goods and Services Tax (GST), reconciling GSTR- 2B is crucial to stay updated, and hence…
In GST, the concept of input service distributor was introduced to streamline the distribution of credits under a centralized system from the main office to various branches or offices of…
GST brought uniformity in the tax structure in India, eliminating the cascading effect of taxes on consumers. The introduction of the online portal enhanced compliance and transparency in the tax…
The Goods and Services Tax was introduced to integrate multiple taxes into one comprehensive GST and make compliance easy for the taxpayers. It also eliminated the cascading effect on taxes…
The introduction of GST laws brought about uniformity and transparency in the indirect taxation system in our country. The composition scheme was introduced to help small businesses with a limited…
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You may have encountered the terms GSTR- 2A and GSTR 2B while filing the GST returns as a business owner. These are two different kinds of GST returns that you…
The Indian Taxation system has noticed much transformation with the introduction of Goods and Services Tax (GST). The aim of introducing GST was to simplify the tax structure, but at…
The world of taxation is very dynamic, and the introduction of Goods and Services Tax (GST) has brought many changes in compliance, where GSTR- 2B stands out as a game…
Tax compliance can be challenging for business owners as there are many documentation and processes to be done. However, everything can be done today with technology, and GSTR-2 B is…
Business owners face daily challenges regarding their day-to-day operations or tax obligations. After the introduction of GST, things are simplified. However, there could be errors and discrepancies in the GSTR-2B…
GST registration is a one-time process to be followed by any person if they cross the threshold limit of Rs 20 lakh in the case of supply of services and…
The introduction of GST is a milestone in the history of the indirect tax system in India. GST replaced the complicated web of Central and State taxes with a unified…
In the dynamic landscape of tax compliance, keeping current is vital for business success. GST offers transparency updates on tax obligations and enhances the overall tax experience, aiding smoother financial…
Understanding HSN Code, It's Full Form? HSN stands for “Harmonized System of Nomenclature”. The HSN code is a numerical classification system used to categorize goods for taxation and trade purposes.…
Works contract means a service contract involving supply, a mixture of service and transfer of goods. Examples of works contracts are the construction of a new building, erection, installation of…
What is HSN Code If you are a business owner in India, you are likely familiar with the Goods and Services Tax (GST). The GST is an indirect tax introduced…
The introduction of GST unified the complex Central and State taxes into one integrated indirect tax system in the country. The aim of the government was to simplify compliance, promote…
Introduction The composition scheme was introduced to bring simplicity and reduce the burden and compliance cost for small businesses. Registering for this scheme is optional where the taxpayers pay tax…
