All About GST New Rule 88C for Mismatch GSTR-1 vs GSTR-3B
What exactly is GST Rule 88C? GST Rule 88C was added as a result of suggestions from the 48th GST Council meeting on December 17,
What exactly is GST Rule 88C? GST Rule 88C was added as a result of suggestions from the 48th GST Council meeting on December 17,
If done correctly, you can claim GST Input Tax Credit without having your credit blocked. This article focuses on ITC claims in GST and their
Summon implies that something serious and bad is about to happen to you, but it is actually a legal document issued by a court or the government.
The GST ITC-04 form includes specifics about the information sources or capital goods shipped to and returned from such a task laborer.
GST’s Journey of Change in 2022 2022 was a year of recovery from the Covid pandemic, which had a global impact on businesses for nearly
Investors often feel more secure and comfortable investing in a company rather than an LLP. This is the primary reason why LLP convert to PVT LTD
At the 48th GST Council meeting, the GST on health insurance was a hotly debated topic. The GST rate on health insurance policies in India
The GSTR 6 Return form needs to be filled out by all distributors of input services who have registered for the Goods and Services Tax
The GST portal has added a new feature that allows users to cancel registration suspension requests and have those requests reversed, which is a huge
A farmer decided to sell his old farm and use the proceeds to buy new farmland because he needed to relocate his agricultural land for
The self-declaration form, Form 15G, for the provident fund (PF) withdrawal certifies that the petitioner will not be subject to a TDS deduction when they
There are several problems with Form GSTR 9 and ambiguity regarding its format. Despite the fact that the same information had previously been filed in
A taxpayer has to file Form TRAN-1 and GSTR-3B before filing Form TRAN-2, Follow These Step
.3.By Step Process to File TRAN-2 Like a Pro.
GSTR 9 must be filed by a registered taxpayer once a year and GSTR 9C is an audit form that taxpayers with a turnover of more than Rs.2 crores.
Reserve Bank of India issued guidelines for the settlement of international trade in Indian rupees now all exports and imports invoiced in rupees.
Suo moto cancellation of GST registration means cancellation of registration under GST laws by the tax officer on his motion.
The central bank issues digital currencies e-RUPI similar to cryptocurrency. They are determined by the value of the country’s fiat currency.
CBDT purposes one common ITR for all except ITR-7 into a single ITR, So that the return filing system in light of international best practices.
According to gst audit for Any taxpayer with an aggregate turnover of 2 crores or more in any FY must have their account books audited annually
Section 10 governs the provisions of the place of supply in a goods transaction. Aside from goods imported or exported from India
Every company, except a government company, must file outstanding receipts of money or loans as specified in Form DPT-3, within 90 days.
In this day and age, there are very few people who have not heard of the term digital investment. In the last decade, a new
Section 194Q: Same as 206C(1H) or Different? Consider yourself a ‘Purchaser of Goods.’ In the normal course of your business, you have bulk orders to
In the Finance Bill 2022, a new section 38 emphasizing on “communication of details, inward supplies, and input tax credit” has been proposed to replace
Apart from E-invoicing Threshold, Some Key Changes That Will Take Effect from 1st October 2022 The Central Government hereby appoints October 1, 2022, as the
The returns under GST are the final stage of compliance which squares off the monthly/quarterly GST transactions. Taxpayers are subject to consequences and penalties for
In the Finance Bill 2022, a new section 38 titled “communication of details, inward supplies, and input tax credit” has been proposed to replace the
Investors often feel more secure and comfortable investing in a company rather than an LLP. This is the primary reason why LLP convert to PVT LTD
The GST portal has added a new feature that allows users to cancel registration suspension requests and have those requests reversed, which is a huge
The self-declaration form, Form 15G, for the provident fund (PF) withdrawal certifies that the petitioner will not be subject to a TDS deduction when they
With Finsights Tally Mobile App you can post invoices from anywhere any device and seamlessly sync them with your Tally. Adding to this, we have
Whatsapp Alert by Finsights is a virtual Tally assistant that keeps a track of payments, transactions, expenditures, maintained in the Tally account of a user.
A Tally Company that is added on Finsights gets resynced every 10 mins. If your Tally Data is not getting updated on Finsights, here is
What exactly is GST Rule 88C? GST Rule 88C was added as a result of suggestions from the 48th GST Council meeting on December 17,
If done correctly, you can claim GST Input Tax Credit without having your credit blocked. This article focuses on ITC claims in GST and their
Summon implies that something serious and bad is about to happen to you, but it is actually a legal document issued by a court or the government.
The GST ITC-04 form includes specifics about the information sources or capital goods shipped to and returned from such a task laborer.
GST’s Journey of Change in 2022 2022 was a year of recovery from the Covid pandemic, which had a global impact on businesses for nearly
At the 48th GST Council meeting, the GST on health insurance was a hotly debated topic. The GST rate on health insurance policies in India
The GSTR 6 Return form needs to be filled out by all distributors of input services who have registered for the Goods and Services Tax
There are several problems with Form GSTR 9 and ambiguity regarding its format. Despite the fact that the same information had previously been filed in
A taxpayer has to file Form TRAN-1 and GSTR-3B before filing Form TRAN-2, Follow These Step
.3.By Step Process to File TRAN-2 Like a Pro.
GSTR 9 must be filed by a registered taxpayer once a year and GSTR 9C is an audit form that taxpayers with a turnover of more than Rs.2 crores.
Suo moto cancellation of GST registration means cancellation of registration under GST laws by the tax officer on his motion.
According to gst audit for Any taxpayer with an aggregate turnover of 2 crores or more in any FY must have their account books audited annually
Section 10 governs the provisions of the place of supply in a goods transaction. Aside from goods imported or exported from India
Every company, except a government company, must file outstanding receipts of money or loans as specified in Form DPT-3, within 90 days.
In this day and age, there are very few people who have not heard of the term digital investment. In the last decade, a new
Section 194Q: Same as 206C(1H) or Different? Consider yourself a ‘Purchaser of Goods.’ In the normal course of your business, you have bulk orders to
In the Finance Bill 2022, a new section 38 emphasizing on “communication of details, inward supplies, and input tax credit” has been proposed to replace
Apart from E-invoicing Threshold, Some Key Changes That Will Take Effect from 1st October 2022 The Central Government hereby appoints October 1, 2022, as the
The returns under GST are the final stage of compliance which squares off the monthly/quarterly GST transactions. Taxpayers are subject to consequences and penalties for
In the Finance Bill 2022, a new section 38 titled “communication of details, inward supplies, and input tax credit” has been proposed to replace the
Who are you? (Stakeholder) LAND OWNER BUILDER CONTRACTOR IN LABOUR MANUFACTURER & TRADERS SERVICE PROVIDERS Which Transaction? A. Sale of Land According to Section 7(2)
ITC Reversal due to non payment Within 180 Days that results into liability added for the month in which the 180-day period expired
The section 132 punishment of certain offence defining violation against the GST provisions and penalized under section 132 of CGST Act.
The section 122 of CGST Act 2017 defining the offence & penalties, in addition to the requirement to pay tax and applicable interest
Section 73 & 74 of CGST act deals with determination of tax liability and compensation payable under section 73 & 74.
Finance Act 2022 added a new section 194R to the Income-tax Act of 1961, The section was designed to track income and bring gifts/perks/benefits.
Avail ITC under GST section 16(2)(aa) and understand how you qualify for ITC under GST section 16(2)(aa) For GSTR 2A/ GSTR 2B
A farmer decided to sell his old farm and use the proceeds to buy new farmland because he needed to relocate his agricultural land for
With less than a month left for the 31st December deadline for filing Income Tax Return for FY 2020-21, it is wise to gear up
The budget 2020-21 had few announcements in the Income Tax Act that aimed towards curbing tax evasion, promoting transparency and simplifying the existing tax system. Among the many
With the roll out of Annual Information Statement (AIS), tax filing is set to become easier as now you will be able to view all
India’s appetite for technology is tremendously growing. The country has emerged as the second-fastest digitizing economy amongst 17 leading economies of the world. This rapid
Compositions dealers must comply with fewer regulations, are not required to use a predefined format of GST tax invoice, are not required to enter the
After completing the first step of activating the GST configurations in Tally Prime as a regular dealer or composition dealer, and if many of the
Under GST in Tally Prime, you can create accounts for various taxes (central tax, state tax, UT tax, integrated tax, and cess), for which you
Tally Prime allows you to update stock items and stock groups for GST. If the items have different tax rates, with or without slab rates,
In Tally Prime, you can create GST party ledgers for the parties with whom you buy and sell goods and services, complete with GST registration
Tally Prime allows you to update a GST service ledger. You must modify your service ledgers to update taxes and other GST details for your
Supply of goods or rendering of services may involve additional expenses, which can either be part of stock items or service value, or can be
Record Inward Supply Under Reverse Charge (RCM) Every registered person is aware of the implications of RCM; they are the ones who must pay the
Tally prime (latest version) includes an essential GST setting that eliminates the need for manual data entry. Tally assists businesses in integrating the required GST
An accountant’s job is often hectic and involves the creation of multiple accounting entries continuously. Choice of Accounting software plays a critical role in easing
Facilitating Ease of Doing Business and decriminalization of offenses, the CBDT has taken steps in this direction by issuing revised Guidelines for Compounding of Offenses
CBDT purposes one common ITR for all except ITR-7 into a single ITR, So that the return filing system in light of international best practices.
The central bank issues digital currencies e-RUPI similar to cryptocurrency. They are determined by the value of the country’s fiat currency.
Reserve Bank of India issued guidelines for the settlement of international trade in Indian rupees now all exports and imports invoiced in rupees.
The Print: Finsights.biz launches GST ITC Reconciliation Platform for CAs and MSMEs Read More
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