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The 54th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman and attended by state finance ministers and tax officials, concluded with several key recommendations. Additionally, the GST rate on small digital transactions (PAs) is to be discussed at the next meeting. Additionally, the current 18 per cent GST rate on life and health […]
This post discusses some of the basic effective strategies which are helpful for GST officials. They can be used to prevent input tax credit fraud. This technique provides a complete process for handling and determining possible fraudulent actions related to claiming ITC, which can assure tax compliance and save the integrity of the GST system. […]
SAG Infotech’s online Gen GST software simplifies the accurate ITC process in the GSTR-3B form. This is a useful cloud-based tool for return filing.
Advisory No. 605 has been issued by The GSTN dated October 3, 2023, and announced the availability of the e-Invoice JSON download feature on the GST e-Invoice Portal. It is very exciting news for all taxpayers that the GST e-Invoice JSON download functionality is now live on the GST Portal. To help you make the […]
All Central and State tax authorities in India have launched a special drive campaign for GST registrations, to catch suspicious or fake businesses, verify them, and then take additional corrective action to remove them from the GST eco-system and protect government revenue. GST officers may visit your company’s location as part of this move. 5 […]
A GST export invoice, which is similar to a tax invoice and records the things being exported as well as the importer’s balance owing, is provided by a supplier of goods or services. When claiming insurance or as evidence of a transaction between the exporter and importer, the export invoice under GST becomes crucial. In […]
Since the launch of the goods and services tax (GST) law, the GSTR-1 filing has to go through some significant changes. It started with just reporting sales data but has since expanded to involve several reconciliations prior to reporting. If we talk about a few of these GST reconciliations before GSTR 1 e-Filing, they may […]
The Gen GST Software now features a new facility to ease compliance and quickly communicate between Suppliers and Receivers each other regarding taxation work. What is Communication Between Taxpayers? It is a new feature of the Gen GST Software that enables communication and coordination between Suppliers and Receivers with respect to various tax-related matters. This […]
GST CMP-08 is the statement that dealers registered under the Composition Scheme use to report their self-assessed tax liability. It provides information on taxes owed for sales and purchases (subject to the Reverse Charge Mechanism) and has replaced Form GSTR-4. Composite Dealers are required to file CMP-08 Return every quarter through the GST Portal. They […]