GST News and income tax updates | Official Blog

What are GST Penalties and Appeals?

July 23, 2021

Since the GST is a destination-based, transaction-wise tax, it demands strict compliance procedures for all the taxpayers under it. So GST law has clearly defined offenses and penalties to prevent tax evasion and corruption. And the offense and penalty under GST would be levied if the taxpayer fails in compliance.

GST Penalties, GST, GST Pen...

GSTR 7 Format - Details to Know

July 19, 2021

GSTR 7 is a monthly statement that is to be provided by all taxpayers in GSTR 7 format who are needed to deduct TDS (Tax deducted at Source ) under GST. GSTR 7 form could furnish the details of TDS returns, TDS deducted, amount of TDS paid and payable and any refund claimed for TDS. The taxpayer whose TDS has been deducted could claim the ITC of the TDS deducted and use it for paying the output tax liability.

GSTR 7, GSTR 7 Form, GSTR

What is GSTR 7?

July 16, 2021

GSTR 7 is a monthly statement that is to be provided by all taxpayers who are needed to deduct TDS (Tax deducted at Source ) under GST.

GSTR, GSTR 7, GST Return

What is CMP 08? How to File CMP 08?

July 15, 2021

GST CMP-08 Form was introduced in April 2019 to simplify the compliance process for composition dealers. It replaced the erstwhile quarterly GST-4 filed by composition dealers and made applicable from FY 2019-20 onwards.

GST Composition Scheme, Com...

What is CMP 02 ? How to File CMP 02?

July 09, 2021

A taxpayer is needed to file GST CMP-02 form and inform the tax authorities if he wishes to opt for the composition scheme and pay composition levy during a financial year or in the middle of a financial year. In case the GST CMP-02 filed during the middle of the financial year, the scheme rules would be applicable from the month following in which the form has been filed.

GST Composition Scheme, Com...

GSTR 6 Format - Details to Know

July 02, 2021

Form GSTR 6 is a monthly return statement for Input Service Distributor(ISD) to furnish the details of their distributed tax credit & inward supplies. GSTR6 format demands that the monthly return statement of the GSTR6 form has to be filed by organizations every month who are also input service distributors. It contains the details of Input Tax credit received and its distribution among the various organizations, along with the details of inward supplies received or purchased from registered taxpayers.

GSTRR 6, GST Return

What is GSTR 6?

June 30, 2021

GSTR6 monthly return statement has to be filed by organizations every month who are also input service distributors. It contains the details of Input Tax credit received and its distribution among the various organizations, along with the details of inward supplies received or purchased from registered taxpayers.

GSTR, GSTRR 6, GST Return

How to Modify, Reject and Cancel E-Way Bills under GST

June 29, 2021

E-way Bill is an electronically generated / electronic bill which is a permit required for inter and intrastate supply of goods worth more than Rs 50000. E Waybill system provides all the details regarding the goods, consignor, transporter, and recipient. There is also an option available to generate or cancel e-way bills via SMS. You can also modify e-way bill no and we will discuss how to modify e-way bill or how to edit e-way bill in this blog.

E way Bill, Cancel eway Bil...

How To Generate, Delete E Way Bill Through SMS

How to Generate or Delete E- Way Bill through SMS?

June 24, 2021

E-way Bill in GST is an electronically generated / electronic bill which is a permit required for inter and intrastate supply of goods worth more than Rs:50,000. If you are supposed to generate multiple e-way bills, you could rely on the web-based facility. However, users who want to generate a single e-way bill or who do not have the access to a website could avail the facility to generate e-way bills SMS facility which is really helpful at the time of an emergency for the businesses.

Eway Bill, Generation of E...

GSTR 9 Format - Details To Know

What is GSTR 9?

Suspension of GST Registration

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