Key Takeaways The Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) is a unique provision that transfers the tax liability from the supplier of goods or services to their recipient. Instead of the supplier collecting and depositing the tax as in the usual way of taxation, RCM ensures business compliance and direct […]
Key Takeaways A GST payment voucher is an essential document that confirms payment by taxpayers to the Government. It indicates that the taxpayer adheres to its tax liability and obligation to contribute to government revenue. However, all transactions under GST do not mandate the issuance of payment vouchers by a registered person. Taxpayers under the […]
Key Takeaways All registered taxpayers can preview the GSTR-9 Excel format on the official GST portal before making the final submission. Individuals can easily acquire the GSTR-9 draft to tally its information before filing returns. This blog will give you a clear understanding of how to view the GSTR-9 draft and explain why it is […]
Key Takeaways Under the GST regulations, different categories of taxpayers have to file annual returns within specific due dates. GSTR 9A, 9B and 9C are different forms under GSTR 9, which taxpayers have to use for filing of GST returns. However, there are significant differences between GSTR 9, GSTR 9A, GSTR 9B and GSTR 9C. […]
by Key Takeaways The taxation system in India is highly complicated. To simplify it for everyone, the Goods and Services Tax (GST) was introduced. Unfortunately, many people find GST complicated as well. They would not feel confident in dealing with all their GST issues on their own. To make it easy for people to meet all […]
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