Key Takeaways Form GSTR-9 entails all tax returns during a financial year by a specific business. As a business, you might face certain issues in the GSTR-9 return filing process, which need to be addressed. Know about the common issues and the ways to resolve the same, to enjoy a hassle-free journey in the return […]
Key Takeaways GSTR-9 is a form that entails all the details of GST returns for a business during a financial year. As a result, it needs to be accurate and error-free to help you claim input tax credit (ITC). The GSTR-9 audit checklist helps you verify that all the necessary details are available and accurate. […]
Key Takeaways Since the implementation of the Goods and Services Tax (GST) regime in India, the concept of Input Tax Credit (ITC) has been instrumental in reducing the cascading effect of taxes and output tax liability. However, the GST framework comes with strict provisions to ensure that ITC is availed lawfully. Wrongfully claiming ITC can […]
Key Takeaways The Reserve Bank of India is the aggregator of all the GST transactions made to different governmental accounts. It accelerates GST payments directly into respective government accounts using either NEFT, RTGS or IMPS payment methods. For a better understanding of this process, this detailed overview will walk you through the details of the […]
by Key Takeaways SAD expands to denote the Special Additional Duty under GST. In this regard, the Central Government exercises the powers bestowed upon it by the Customs Act, of 1962 (52 of 1962). It is crucial in view of the interest of the public, to exempt the goods categorised within the First Schedule of the […]
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