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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 […]
GST practitioner is personnel who is approved by the government (state or central) to take charge of all the tax-related activities on behalf of taxpayers and business firm. GST practitioner is a person concerned for fresh registrations under GST, applying for amendments or cancellation of registration. No shells of GST are left uncovered for a […]
The Modi-led government has recently announced that it will sort out all the major issues or glitches in the new GST system, which was also the key reason for the decline in indirect tax revenue. At the time when the GST regime was launched, the government has promised that the full benefits of GST reform […]
One of the Kirana merchants who is engaged in the business of selling pulses, spices, and dry fruits in the APMC market, in Vashi Mumbai, doesn’t seem to people these days with the current GST system enforced by the central government. This particular medium scale retailer has been active in APMC, Mumbai, for the last […]
All the registered taxpayers in India that are having an aggregate income of INR 5 crores or above must file the GSTR 9C annual audit form before the due date of 31st December for every FY to avoid any penalty & interest charges levied by the government. GSTR 9C is basically a reconciliation statement or […]
On Wednesday, the Finance Ministry announced if there is any imparity in details of GST monthly sales return and outward supply, it has to be mentioned in the annual return form. Also, the payment of due taxes should be done. Further, clearing businesses’ doubts on considering the primary source of data for filing the annual […]
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 […]
Breaking all the records, Goods and Services Tax (GST) made a remarkable collection of Rs. 1 Trillion for two successive months, but the June month was somehow ill-fated as the collection of Indirect Tax fell considerably to Rs. 99,936 Crores. On a good note, the average quarterly collection of April-June managed to reach Rs. 1.04 […]
By generating employment for 100 million people, MSME is the biggest job opportunities creator in the nation besides contributing essentially in the National economy with its deep-rooted power and potential to flourish. But MSMEs in India have been addressing numerous issues such as the sub-optimal scope of operations, outmoded technology, disorganised and inept supply chain, […]
