e-invoicing software

E-Invoice Under GST: Applicability, Myths & Facts, Generation Process and Benefits

In the 37th GST Council Meeting held on 20th September, 2019, decision was made to implement e-invoice. Further, in support of this decision, CBIC has issued Notification No 68/2019 to Notification No 72/2019 dated 12th December. 2019. In these notifications, CBIC has laid down guidelines for implementation of e-invoice. What is E-Invoicing?E-invoicing or electronic invoicing […]

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38th GST Council Meeting

38th GST Council Meeting: Press Release & Key Takeaways

On 18th December, 2019, Wednesday, 38th GST Council Meeting was held in New Delhi under the chairmanship of our Hon’ble Union Finance Minister Nirmala Sitharaman.  Some major decisions were taken in the Council meeting that shall affect the business were as follows –38th GST Council Meeting Press Release Download Download Press Release PIB1596894 Download Press […]

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gst on discounts

GST on Discounts: Legal Provisions, Pre/Post Sale Discount (Examples)

Under GST, valuation of taxable supply is a critical aspect. While valuation of supply various points need to be considered and one such area is discounts and its treatment.  A lot of confusion among businesses and CA’s regarding treatment of various discounts offered and received by a business.With regard to this, a clarification was issued […]

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Best GST Filing Software for CA

Best GST Return Filing Software Which Makes Accountant & CA’s Life Easier

Are you A Tax Professional or A person who is looking into GST Filing? If yes, you already aware of frequent changes in GST Compliance to make it better and smoother day by day.But the fact is being A Tax Professionals how much efforts you put in, how much data you prepare and analyse for […]

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simplified GSTR 9

Simplified GSTR 9 & 9C – Know Which Are Optional Tables in GSTR 9

On 14th November, 2019, Notification number 56/2019 was issued by CBIC which provided a huge relief to all registered taxpayers. This notification not only aimed at extension of due date of GSTR 9 and GSTR 9C to 31st December, 2019 for FY 2017-18 but also provided for simplification of GSTR 9 and GSTR 9C forms […]

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GSTR 9/9C Due Date Extended – PIB India Press Release/Notification

GSTR 9/9C Due Date ExtendedGSTR 9 annual return and GSTR 9C reconciliation statement due date for FY 2017-18 has once again been extended. Press Information Bureau of India has released that revised due date for GSTR 9 and GSTR 9C is 31st December, 2019 for FY 2017-18 and 31st March, 2020 for FY 2018-19. The […]

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input tax credit rule

Dont Ignore 20% Input Tax Credit Rule Which Can Block Your 100% Credit

On 9th October, 2019, various notifications were issued by the CBIC. One such notification was Notification number 49/2019, through which CGST Rules, 2017 were sought to be amended. One such amendment was with respect to insertion of Sub-rule (4) to Rule 36 of the CGST Rules.The newly added Sub-rule states that – “Input tax credit […]

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form gst anx 1

New GST Return – 9 Differences Explained in Form GST ANX 1 & GSTR 1

At the 37th GST Council meeting held at Goa on 19th September 2019, GST Council has decided that the New GST Return system will be applicable from 1st April 2020. The new Return system is based on the principle of matching. ITC availability will depend on, uploading of said details by Supplier. New Return has […]

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Form GST PMT 08

New GST Return – Form GST PMT 08

GST Council, in its 37th Council meeting held in Goa, announced that new GST returns shall be implemented from April 2020 instead of September 2019. This new return filing system shall replace the existing return filing system.This new simplified return filing system will be introduced to ease the compliance process and identify defaulting taxpayers.Under the […]

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gst updates

GST Taxpayers Will Lose in Lakhs If This is Not Done in September 2019

Under GST, apart from the filing of regular returns, for many other compliances, the due date is prescribed. Said due dates are very stringent. If it is not followed, then Taxpayer may be required to bear the loss in lakhs.It is observed that for said compliance of F.Y. 2017-18, many taxpayers and professionals have not […]

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