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In a recent announcement, the Finance Ministry has said that no GST invoice will be required for the goods that were taken abroad for exhibitions or other kinds of export promotion events and are brought back to India within six months. The ministry further said that most of the exporters were having problems due to […]
In the budget 2019, several GST related rules and regulations have changed which have been presented in the Finance Bill. Finance Minister Nirmala Sitharaman presented the budget 2019 on July 5, 2019. The budget promulgates the tax payment facilities in addition to the changes made in composition schemes. Most of the things presented in the […]
Here we are to discuss all the major points on the inward supply transaction under the GSTR 9. We will go through all the particulars and the respected financial year with the reporting in the GSTR 9: Particulars Financial Year 2023-24 Financial Year 2024-25 —————–Reporting in GSTR 9—————- GSTR 3B GSTR 3B FY 2023-24 Table […]
Providing a sigh of relief to exporters, the centre announced to pay the input tax credit (ITC) refunds of state taxes which will translate into lesser transaction time and costs. while the manual interface is being said under processing. As the industry claims, there is a huge difference between the amount claimed for ITC to […]
What is GST PMT 08? Form GST PMT-08 is introduced under the new simplified GST Returns, this helps the taxpayers to make the payment of self-assessed tax like TDS or ITC. The form is used instead of GSTR 3B. A taxpayer has to use this form every month for declaring and paying the monthly tax […]
As per the recently updated GST tax regime, the dealers would be obliged to pay 18% GST on the post-sale discount, if it is passed to them by their companies as a part of promotional activities to benefit the end consumers. If the company has necessarily asked the dealers to pass on this benefit to […]
Some expectations are yet left to be fulfilled, some issues are yet left to be settled down! Some pending petitions, some harsh provisions and some new steps in the digital world are halting our journey towards full stabilization and uniformity under GST. GST system is the biggest reform in the taxation system which rolled out […]
Enrol your name for a 4 day advanced certified training course on GST presented by Ministry of MSME (Micro, Small and Medium Enterprises). It is a clear opportunity to learn about GST at a much-advanced level. The training starts from 29 June 2019 in some of the prime cities like Ahmedabad, Jaipur, Agra, Cochin, Lucknow, […]
GSTR 1 is a return filing for all taxpayers that includes all the outward supplies given in the transactions of the business dealings. Here we will discuss Table 6A of the GSTR 1 form for regular taxpayers which is basically for the refund on exports. To claim the refunds, the exporter has to file Table […]
