The below are the various Statutory Obligations for the month of December 2023.Please ensure to comply with the obligations to avoid Interest / Penalty Sl. No Nature of Statutory Obligation Statute Due Date Link 1 Due Date for Payment of TDS for the month of November 2023 Income-Tax 07th Dec 2023 Link for Payment of […]
Statutory Obligations for the month of December 2023 Read More »
Understanding GST on Reverse Charge Mechanism (RCM) for Security Services The implementation of the Goods and Services Tax (GST) in India brought significant changes to the taxation system. One such change is the Reverse Charge Mechanism (RCM), which shifts the responsibility of tax payment from the supplier to the recipient. In this article, we will
Understanding GST Input Tax Credit: How to Optimize Your Claims The Goods and Services Tax (GST) has revolutionized the Indian taxation system, bringing about a unified tax structure across the country. Under the GST regime, businesses can claim Input Tax Credit (ITC) to offset the taxes paid on inputs against the output tax liability. This
The CBIC has reduced the E invoice limit for business from the existing 10 Crores to 5 Crores. This is w.e.f. 01st Aug 2023. Accordingly, if the turnover of the business has exceeded more than 5 Crores in any of the Financial years starting 2017-18, E invoicing will be applicable w.e.f. 01st Aug 2023. The
E Invoicing Limit reduced to 5 Crores w.e.f 01st Aug 2023 Read More »
Whether e way bill is required for goods sent for weighment to the weighbridge
E WAY BILL REQUIREMENT FOR GOODS SENT FOR WEIGHMENT TO THE WEIGHBRIDGE Read More »
GST on Renting of Immovable Property Have queries in GST on Renting of Immovable properties ? Click here to send an enquiry/appointment
Quick Referencer – GST on Renting of Immovable Property Read More »
Lady opportunity for Tran 1 & Tran 2 filing for availing the GST Transition credit
GST Transition Credit – Last Opportunity Read More »
Filing of GST Returns on due dates is very important in GST regime which not only ensures seamless flow of Input tax credits but also to keep the GST Registration active. Due to various reasons, if you have not filed your GST returns for any months between July 2017 to April 2021, here is an
Filing NIL GST Returns may cancel your GST Registration
As per Section 16(2) Second & Third Proviso of CGST Act,2017 , if a Tax payer fails to pay the supplier of goods or services or both, within 180 days from the date of Invoice, the amount equivalent to the Input tax Credit (ITC) availed by the recipient shall be added to the output liability
Input Tax Credit (ITC) Reversal for Non Payment to your suppliers Read More »
In order to help the Small Businesses and GST tax payers and also as per the decision taken at the 43rd GST Council meeting held on 28th May 2021, a new amnesty scheme for relaxation in return filing, late fees, etc., has been announced. Period of Applicabilty The Tax return periods from Jul 2017 to
GST AMNESTY SCHEME 2021 , LATE FEE & OTHER RELAXATIONS Read More »
A new scheme for Small tax payers in GST has been introduced. The salient features of this scheme is provided below :- What is “Quarterly Returns with Monthly Payment (QRMP)” Scheme?QRMP scheme is for small taxpayers to file their FORM GSTR-1 and FORM GSTR-3B returns on quarterly basis while paying their tax dues monthly through
All about Quarterly Returns with Monthly Payment (QRMP) Scheme Read More »
The last date for filing GSTR 4 returns (Annual return for Compounding dealers) extended to 31st Oct 2020.
Last date for filing GSTR 4 extended Read More »
GST updates for 05.05.2020 1. Validity E way bill expiring between 20th Mar 2020 to 15th Apr 2020 has been extended to 31st Mar 2020 2. GSTR 9 & 9C for the year 2018-19 date extended to 30th Sept 2020 3. Companies can now file GSTR 3B through EVC. Digital Signature is not mandatory. This
GST Updates – 05 05 2020 Read More »
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