Why due date for filing quarterly GSTR-1 is changed

On October 23, 2020

Recently the government has issued a notification to change the due dates for filing of GSTR-1 for the quarterly filers. Earlier the due date to file GSTR-1 was 30th of next month after quarter-end. Now the due date for filing of GSTR-1 will be 13th of next month after quarter-end. Why this is a welcome […]

How to comply with Rule 36(4) for claiming GST Input Tax Credit

On October 13, 2020

Recently, the suspension on the application of rule 36(4) has ended. From the GSTR-3B of September 2020 onwards, taxpayers should comply for this rule every month. This rule is one of the most complicated rules to apply in practical circumstances. Let’s discuss what this rule is all about. In layman’s language, rule 36(4) says that […]

GST Department to share GST data with Income Tax Department

On October 10, 2020

In the month of July 2020, the CBDT and CBIC have entered into an MOU where CBIC will share the GSTR-2A data with the Income Tax Department. This is not a new thing in the tax regulatory system in India. In the time of service tax and excise duty, the Income Tax Department used to share the […]

Using GSTR-2A Reconciliation as an Audit Tool

On October 7, 2020

Recently one of our clients shared a very interesting story. He got an assignment to complete the audit of a private limited company within a short period. He used Digitax G-RECS as an audit tool to finalise the audit within such specified period. Here it is how he has done it? The company had 80% […]

Why GSTR 2A is equal to form 26AS

On September 5, 2020

GSTR-2A is one of the most important innovations to track transactions of the taxpayers by the government. Recently the government has introduced 26AS in a new avatar. 26AS is now not only a tool to monitor your TDS but also an information tool for the government. You must have experienced how Income Tax and GST […]

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