RCM Under GST: Working & Applicability Under New GST Return

Reverse Charge Mechanism or RCM under GST is the payment of Taxes in a reversed cycle that is directly through the recipient to the Government. The Working of reverse charge is tricky & technical involving multiple conditions. We have created a detailed guide on the working of the Reverse Charge Mechanism in depth. With the […]

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new gst return forms

New GST Return for MSMEs- A Friend or A Foe?

The MSME or Micro, Small & Medium Enterprises, as the name suggests is a class of small & medium-sized enterprises. Considering the massive differences between the MSMEs & the Large Enterprises, certain privileges have been given by the Government to the MSMEs. The MSME Development Act 2006 is an act of the Parliament of India […]

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10 Extremely Serious Problems Businesses Can Face in New GST Returns

In its 31st GST Council Meeting, which was held in December 2018, the GST Council proposed the idea of a new system of GST Return filing.This system of Return filing was supposed to be implemented at the beginning of this year. But the date of implementation got extended from April 2020 to October 2020.The New […]

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GST on Director Remuneration

GST on Director Remuneration: Analysis of Issue and How to Handle It

Recently Rajasthan Authority of Advance Ruling in case of Clay Craft India Pvt Ltd has given ruling that, GST is payable under RCM, on Salary paid to director. [ Advance Ruling No RAJ /AAR/2019-20/33 dated 20th Feb 2020]. Said Ruling is pronounced in terms of, Entry 6 of Notification No 13/2017 CT dated 28.06.2017, as […]

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how to unblock e way bill

Blocking/Unblocking of E-way Bill Generation: A Step-By-Step Guide

Taking astep towards curbing the Tax evasion and enhancing the tax revenue collection,the Government has imposed a new rule of blocking the E-way Bill generation of certain Taxpayers. These are the taxpayers with a default in their punctuality in the context of filing Tax returns. Taxpayers Who have not filed their tax returns (GSTR-3B) for […]

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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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