ITC – ITC Reconciliation, GSTR 2A Reconciliation

Key Outcomes – 3rd National GST Conference

Posted by Amit Mundhra
On March 12, 2020
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All about GST, Goods and Services, GST, GST Act, GST Blog, GST Regulation, GST Updates, GSTNews, Input Tax credit, ITC, Utilization of ITC

[vc_row][vc_column][vc_column_text] On March 6, 2020, the 3rd National GST Conference of Commissioners of State Tax and Zonal Chief Commissioners of Central Tax was held at Vigyan Bhavan, New Delhi under the chairmanship of Union Finance Secretary, Dr Ajay Bhushan Pandey. Hon’ble Union Finance Minister, Smt. Nirmala Sitharaman also joined the Conference and intensively discussed the […]

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

Posted by Amit Mundhra
On February 4, 2020
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A case study, All about GST, Auto-populated data, Avail ITC, Claim ITC, Differences, Goods and Services, GST, GST Blog, GST Login, GST Updates, GSTR 2A, Input Tax credit, ITC, Reconciliation

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

Posted by Amit Mundhra
On January 18, 2020
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Avail ITC, Claim ITC, Conditions, Goods and Services, GST, GST Act, GST Blog, GST Regulation, GST Updates, ITC, Purchase Register, Suplier

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?

Posted by Amit Mundhra
On January 11, 2020
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GST, GST Updates, Input Tax credit, ITC

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 […]

New Changes in New Year Under GST

Posted by Amit Mundhra
On January 10, 2020
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GST, GST Act, GST Blog, GST Updates, GSTNews, GSTR 1, GSTR 2A, Input Tax credit, ITC, Reconciliation

The New Year isn’t only meant for philosophical, physical and emotional resolutions but also demands new financial resolutions to relieve the stress on your pocket. To help you plan this, we bring you the new changes done under the GST. Be a good taxpayer and consider these changes to plan 2020 financially. Here are the […]

38th GST Council Meeting Highlights

Posted by Amit Mundhra
On December 20, 2019
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38th GST Council Meeting, GST, GST Blog, GST Regulation, GST Updates, GSTR 2A, ITC

Since the implementation of GST, every day there are new additions or changes in the process so that it can be simplified further. To add to this list, the GST council recommended few more changes in its 38th GST Council Meeting. The meeting was headed by Union Minister for Finance & Corporate Affairs Smt. Nirmala […]

Clarifying Input Tax Credit Claims under New GST Rules

Posted by Amit Mundhra
On November 13, 2019
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GST, GST Regulation, GST Updates, GSTNews, ITC

Since its implementation in 2016, GST laws have been kept on changing. In recent times a lot of big amends have been done to simplify GST for taxpayers. To add to the list is the latest GST circular released by Central Board of Indirect Taxes and Customs (CBIC), which is here to end confusion over […]

Method of Utilization of Input Tax Credit (ITC) in GST

Posted by Amit Mundhra
On April 21, 2019
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Input Tax credit, ITC, Utilization, Utilization of ITC

WHAT IS INPUT TAX CREDIT (ITC) IN GST? Goods and Services Tax (GST) is considered the biggest financial reforms in India. Input Tax Credit in brief, ITC under GST is a credit which is available to supplier to set off the tax he has paid on purchase of goods from output tax on sale of […]

GST Input Tax Credit (ITC) Reconciliation

Posted by Amit Mundhra
On April 5, 2019
0 Comments
GST, GSTR 2A, Input Tax credit, ITC, Reconciliation

5 BASIC CONDITIONS FOR AVAILING INPUT TAX CREDIT Following conditions should be satisfied to avail input tax credit under GST Goods or services received must be for furtherance of business Tax Invoice, Debit Note, Bill of Entry should be available Goods or services must be received Tax charged on the invoice should be paid by […]