November 08, 2019
Input Tax Credit(ITC) reduces taxes paid on inputs from taxes that are to be paid on output. Input Credit Mechanism is available to you when you are covered under the GST Act.
GST, Input Tax Credit, ITC,...
November 20, 2019
Sahaj & Sugam new GST Return Forms where announced by GST Council to ease the filing for registered GST taxpayers.
GST, GSTR, GST News, GST Re...
August 07, 2020
GST return due dates and interest related queries have been extended and solved respectively through the various circulars and notifications published by the government.
GST, GST Return, GSTR
January 25, 2021
GSTR1 is a return that shows all sales transactions of a business. GSTR-1 can file either monthly or quarterly basis. GSTR 1 due date is based on turnovers.
GSTR, GSTR 1, GST
February 03, 2021
GSTR 1 needs to be filed even if there is no business activity. If the GSTR 1 is not registered properly it will impact on the trustworthiness of one’s business.
GSTR, GSTR 1, GST
May 31, 2021
GSTR 3B is a simple ,consolidated , self declared GST summary of inward and outward supplies during a month which has been introduced for businesses to file returns without much difficulty.
GSTR, GSTR 3, GSTR 3B
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
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
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