Key Takeaways As a taxpayer under the composition scheme, one is required to furnish the Form GSTR-4 once a year, 30th of the month succeeding the financial year. However, there are certain bits of crucial information that need to be reported in this return. ‘Are purchase details mandatory in GSTR-4?’ This is a burning question […]
Key Takeaways A GSTR 6 is a monthly return statement that an Input Service Distributor files. There are a total of 11 sections in this return. It contains details of ITC received by an input service distributor along with the details of the distribution of ITC. In this blog, we will walk you through the […]
Key Takeaways For Online Information and Database Access or Retrieval (OIDAR) service providers, outside India who supply services to unregistered persons in India, the GSTR-5A form is crucial. This is required to report tax liabilities and direct tax compliance with Indian GST laws. GSTR-5A must be filed monthly, even for periods with no transactions. Filing […]
Key Takeaways Filing your GSTR-4 annual return can be intimidating, particularly if you are unfamiliar with the offline procedure. The GSTR-4, designed for composition scheme taxpayers, makes compliance easier but still requires close attention to detail. Whether you are a tax expert or a small business owner, this guide ensures accuracy by breaking down the […]
by Key Takeaways The Goods and Services Tax was introduced in India in 2017. The primary aim of GST was to eliminate the cascading effect of all indirect taxes and replace them with a single tax. Input Tax Credit, one of the crucial elements of the GST regime, helps businesses to reduce their tax liabilities. Followingly, […]
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