Why OIDAR is treated differently under GST Online Information Database Access and Retrieval (OIDAR) refers to services delivered over the internet in an automated way, with minimal human intervention, and that would not be possible without IT. Examples: Internet advertising, Cloud services, E-books, movies, music, software downloads, Online gaming, Digital data storage. If the service cannot …
GSTR-3B figures & GST Portal Issues/ Errors Encountered Duplicate Invoices in GSTR-2B: Issue: Duplicate invoices appeared in GSTR-2B for September and October 2024 due to a technical glitch in the Invoice Matching System. Resolution: GSTN has rectified the issue. Taxpayers are advised not to claim ITC on duplicate entries. For further assistance, raise a ticket …
GSTR 2B ITC Issue : GSTN Advisory on how to fix it for FY 2023-24 Recent Goods and Services Tax Network advisory and the concept explained by Rajput Jain and Associates Experts chartered Accountants in the context of GSTR-2B and ITC issues. Here are the scenarios outlined in the Goods and Services Tax Network advisory …
GST Returns to Become Time-Barred After 3 Years The upcoming change in the GST system, effective from early 2025, will significantly impact taxpayers by imposing a 3 year time limit for filing monthly and annual GST returns. Under the Finance Act, 2023 (8 of 2023), effective from October 1, 2023, via Notification No. 28/2023 – …
Complete understanding about GSTR-1A What is GSTR-1A? GSTR-1A is a correction statement used to make amendments to the details of supplies reported in GSTR-1. Any corrections accepted in GSTR-1A will automatically update the details in GSTR-1. Who needs to file GSTR-1A? Every taxpayer must file GSTR-1A if there are any proposed changes in GSTR-2A, which …
GSTN rolls out form for tobacco manufacturers to report inputs, outputs to tax authorities GSTN rollout for tobacco manufacturers to report inputs and outputs to tax authorities marks a significant step in enhancing transparency and compliance within the GST framework. This form provides a structured approach for manufacturers to document and report their procurement and …
How to safeguard us via Incorrect GSTN reporting in GSTR 1? Under GST, a return that has been submitted can not be modified. Any mistake in the return can be fixed in the GSTR-1 that is submitted for the upcoming period (month or quarter). This implies that any errors found in the GSTR-1 of March …
GST Advisory on Payment via Credit card or Debit Card & UPI w.e.f. 19/01/2024 To facilitate the GST taxpayer registered under Goods & Services Tax with more methods of payment, 2 new Payment methods have now been provided under online GST E-payment in addition to net-banking. The 2 new methods are Credit or debit Cards …
Amnesty Scheme for condoning delay in filing appeals under GST Act: CBIC Notifies. Central Board of Indirect Taxes and Customs issue notifies Amnesty Scheme for condoning delay in filing appeals under Goods and Services Tax Act, File your Appeals before 31st January 2024 Central Board of Indirect Taxes and Customs through Central Tax dated 02.11.2023 notified …
Overview on GST unified indirect taxation mechanism Goods and Service Tax is a unique unified indirect taxation mechanism that replaced various indirect taxes levied by State & Central Govt of India. Under the GST regime, GST is a destination-based tax on consumption of services & goods that is levied on every value addition. the tax …