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 […]

Critical Role of CFOs and Tax Heads in claiming GST Input Tax Credit (ITC)

On March 17, 2020

The department of Revenue is monitoring the GST data meticulously with the help of data analytics and extensive use of technology. To detect and curb Input Tax Credit (ITC), authorities are keeping a constant eye on the returns filed by the business organisation. Tax Department is also using artificial intelligence for timely compliances. To have […]

How GST department is monitoring your Tax Credit Claim?

On March 5, 2020

In this GST era, the input tax credit mechanism is such a powerful tool which is utilized by the government to keep watch on all kinds of transactions among the business concerns. You must be thinking, how is this even possible because the money passes through so many direct-indirect channels so its quite tedious task […]

Difference between auto-populated data of GSTR-2A shown in GST Login: A Case Study

On February 4, 2020

GST is changing every day and to make it more simple new changes are being introduced to make it more viable and feasible. Let’s have a look at why there is a difference between auto-populated data of GSTR-2A shown in GST login through a case study to make it more easy to understand. Nowadays, the […]

ITC: Conditions To Claim Input Tax Credit under GST

On January 18, 2020

Input Tax for a taxable person is the Goods and Services Tax levied on him/her for the supply of goods or services to him/her, which are used or are intended to be used, for the development of his business. ITC under GST is the most critical activity as well as a matter of concern for […]

What is Input Tax Credit (ITC) and how to claim it?

On January 11, 2020

Implementation of Goods and Services Tax in India has been considered as one of the biggest reforms. People are getting acquainted with the process and GST, however, there is still a lot to learn and know about it for the common mass. So, here we are with the new topic and information about it, this […]

Brief Introduction: What is GSTR 2A?

On December 28, 2019

GST has been keeping people on toes since its implementation. One needs to learn a lot in order to file tax returns and that too monthly. It sure does sound very complicated but if one starts understanding the basics, there is not an easier thing other than this. Let’s start with the basic GSTR 2A […]

Offences and Penalties under the GST Act

On December 19, 2019

What is an offence under GST? An offence under GST is the breach of GST rules and violations of provisions of the GST Act. There are severe penalties for the lawbreakers and to avoid such penalties you must have the information about these offences. There are 21 offences in total that come under the GST […]

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