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Search results for: input tax credit

CBIC Instructions on Issuance of GST SCN

CBIC Fresh Guidelines on Issuance of GST Show Cause Notices

The Central Board of Indirect Taxes and Customs (CBIC) published the directions upon issuance of Show Cause Notices (SCNs) within the said time. A brief analysis to sought the trend for the event of GST evasion and fraudulent ITC claim registered along with the number of SCNs given with respect to the FY 2017-18 (w.e.f. […]

GST Payment Guide for Freelancers

Must-know Important Things on GST Payment for Freelancers

In case you are an employee of an organization and get a salary from it then you do not need to have to pay goods and services tax (GST). However, If you are a lawyer, freelancer, designer, architect, developer, or even sales professional, etc – GST would applicable in these particular cases. GST builds a […]

Food Delivery Apps Request GST Clarification

Zomato & Swiggy Demand Clarity on 5% GST Applicability from Govt

Food delivery companies like Swiggy and Zomato have outreach near the government and asked for an explanation about the current decision to treat them at par with restaurants within the Goods and Services Tax (GST) structure. These companies expect clarification across how the GST would be imposed and either this shall lead to “tax cascading” […]

GST Portal New Functionality on ITC Claiming

New Feature of GST ITC Claiming Which Not Reflected GSTR 2A/2B

The latest feature has been updated on the GST portal in which the assessee can avail of the ITC despite it is not shown in GSTR-2A or 2B which is a bigger advantage to assessees. To support the importers of goods along with the recipients of the supplies via SEZ search bill of entry that […]

Check Major Points for Filing of GSTR 9 Form

Important GSTR 9 Filing Points for FY 2020-21 with Amendments

The GSTR-9 is a yearly return to be filed by all enrolled taxpayers under GST besides a few. It is a yearly corpus of outer supplies, internal supplies, tax liability, and input tax credit benefited during a financial year. It should be filed within 31st Dec of the same year by the certain financial year. […]

How to Reply GSTR 3B and 2A Mismatch Notice?

How to Respond GST Notice for GSTR 3B & GSTR 2A Mismatch?

Even after 4 years of GST implementation and over a thousand notifications and circulars, we are still facing a lot of problems in GST on-site maintenance or in the department’s working. Due to the issues and continuous changes many times, businesses and professionals face a lot of problems. This is unfortunate to say that even […]

Important Tasks To Do Before Sep 2021 GST Returns

Needful Steps to be Taken Before Filing GST Returns for Sept 2021

The assessee beneath the regular category used to furnish the GSTR-1 and GSTR-3B to report the transactions. GSTR-1 uses to report the information of the outward supplies which consists of revisions if any and the GSTR 3B is towards reporting the summary transactions for the payment of the taxes and ITC claim. Inside the tax […]

HR Govt to Update GST Rules and Software

Haryana Govt Revises Rules & Software to Stop Bogus GST ITC

The Haryana government has opted to revise the guidelines as well as software to make people avoid claiming the undue GST input tax credit (ITC) upon the grounds of the bills made excluding any real movement of goods. The state’s revenue loss in the recent scam of GST in Panipat district is more than Rs […]

All About GST ITC Matching

Easy Guide to Compare Liability Declared & Claimed GST ITC

The taxpayers claim the ITC and apart from that the liability also is declared and this is a comparison between the GST liability and the ITC. The taxpayers can have a look over the ITC comparison and the tax liability in the returns tab which gives the option to have knowledge of the month-wise tax […]

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