Key Takeaways GSTR-5 is one of the key return forms under the Goods and Services Tax regime that non-resident foreign taxpayers must file when conducting business transactions in India. By visiting the official website of GST, all eligible taxpayers can download the PDF file of this form. The GSTR-5 return provides accurate records about all […]
Key Takeaways GSTR-7 return is mandatory for businesses engaged in TDS (Tax Deducted at Source) deduction. It ensures transparency between the deductor, taxpayer and the government. Taxpayers can verify whether deductors deposit the tax at source for the earlier tax period with the government through accurate filing within the due date at applicable rates for […]
Key Takeaways GSTR-7A is an automated certificate that the Goods and Services Tax (GST) system generates after deductors file GSTR-7 (monthly return form) for TDS (Tax Deducted at Source) deductions. Deductees can present this certificate to claim input tax credit (ITC) and reduce their tax liabilities. Learn what is GSTR-7A, who needs it and how […]
Key Takeaways Within India’s GST framework, the GSTR-8 Form plays a crucial role. It serves as a record of all the supplies completed by e-commerce companies and reveals the total figure of tax collected at source (TCS). There is a set format for the GSTR-8 return that is effective for capturing important details like the […]
by Key Takeaways When you are filing your GSTR-1 returns, one of the important things to consider is the zero-rated and nil-rated supplies. Nil rated supply in GSTR 1 implies that the good or service to which it applies will attract 0% GST. People often make mistakes while filing their GST returns, and it includes the […]
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