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 …
Director Personnel Services are not covered under RCM Mechanism Services by directors in personal capacity to company not taxable under GST Reverse Charge Mechanism: Finance Ministry The Central Board of Indirect Taxes & Customs on 01 Aug. 2023 make an announcement subject to the recommendation of GSTN; Central Board of Indirect Taxes & Customs issue …
SC : Permits companies to claim transitional tax credit: Supreme Court allows GST taxpayers to claim pre-GST ITC in a 60-day window timeline. AS per latest judgement of Supreme Court permitted all impacted taxpayers to claim cumulative input tax credits (ITC) accrued in the pre-GST indirect tax regime in 60 days ending October 30 in …
Delays in delivery after the E-Way Bill has lapsed would not be considered GST evasion. The Supreme Court has ruled that non-delivery of goods within the validity period of an e-way bill, as well as non-extension of an e-way bill, does not always imply tax evasion, especially where the delay is caused by external reasons. …
What is Common errors in filing of GSTR returns which needed to avoid. Prior to the GST regime, there was the VAT system, which enabled for returns to be amended if an error was detected. Despite the fact that the GST Act has been in effect for three years, those who are registered under it continue …