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 […]
Key Takeaways Seamless GST compliance is the ultimate goal for every business and it may be achieved through an error-free GSTR-7 return filing process. Filing GSTR-7 must be a task completed within each tax period. However, doing so may seem challenging, given the ever-changing/updating formats and regulations. Perhaps, the schema validation failed in GSTR 7 […]
by Key Takeaways Finance Minister Nirmala Sitharaman chaired the 47th GST Council Meeting, recommending the revision of GST exemptions for pre-packaged as well as labelled goods. Before, food items, including wheat, rice, honey, etc., were exempt from taxes if they were sold under unregistered brand names or with no enforceable rights. This article shall delve into […]
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