September 22, 2021
Filing of mid-year GST Return, i.e., return for the month of September, is crucial mainly because it marks as the last return for reconciliation/ rectification of any mistakes/ omission of any data relating to the preceding Financial Year.Simplifying thereof, various mistakes/ errors, if any, done while filing returns for the Financial Year 2020-2021 needs to
February 3, 2021
Table of Contents IntroductionWhy is Input Tax Credit relevant?Journey of Input Tax Credit Rule 36(4)Impact of this Input Tax Credit rule on taxpayerVALIDITY: (Here, validity means how valid and just, rule 36(4) is): -Claim upto 100% Input Tax Credit IntroductionIn the world of GST, Input Tax Credit (Commonly known as ITC) is a big relaxation
November 24, 2020
Table of Contents 1GSTR-1 Related GST updates2Read more GST updates3e-Invoicing Software & Process Under GST | Eligibility, Implementation & Applicability4E-Invoicing For 20 Cr+ Turnover Businesses Now Enabled – New Advisory5GSTR-2A/2B Related GST updates6GSTR-3B Related update7Input Tax Credit Related update8e-Invoicing Related update The Central Government CBIC has announced a series of New Notifications regarding Form GSTR-1,
October 1, 2019
Table of Contents 1What is ineligible ITC in GSTR-3B?2Ineligible ITC under GST Section-17(5)3FAQs on Blocked Credit GST was introduced with the view of removing cascading effect of taxes that existed under previous indirect laws. Any manufacturer, trader, retailer, supplier, e-commerce operator or any other person who is registered under the GST Act and has a
September 28, 2019
Table of Content What is Input Tax Credit?Lets Understand With the help of Example Basic Requisites / Conditions for Claiming Input Tax Credit (ITC) Documents on which Input Tax Credit may be claimed:Reversal of Input tax Credit (ITC)Where input tax credit (ITC) is reversed, How To Avail Credit Where Tax Has Been Paid Under Reverse Charge Mechanism (RCM) Time limit