Key Takeaways Form GSTR-3B entails the details of inward and outward supplies during a tax period. Filing this return is mandatory for all registered taxpayers under the Indian GST framework. Explore some of the FAQs on GSTR-3B to avoid delayed payments and return filing which attract penalties, interest and late fees. What Is Form GSTR-3B? […]
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, […]
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 […]
Key Takeaways Knowing the Goods and Services Tax (GST) system is crucial for businesses and individuals who engage in taxable supplies. A key component of this system is the GST challan, which facilitates timely and accurate tax payments to the government. This article will inform you about the meaning and benefits of a GST challan […]
by Key Takeaways When the registered taxpayer has to deal with obligations under the GST (Goods and Services Tax) regime, they often have to navigate different forms and procedures. The DRC-19 in GST is one such crucial form. It is related to the order summary passed under Section 73/Section 74 of the GST Act. Within this […]
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