The Ultimate Guide to Fully Electronic GST Refund Process in India

The Ultimate Guide to Fully Electronic GST Refund Process in India

The introduction of the Goods and Services Tax (GST) brought significant changes to India’s tax structure. To ease the burden of tax compliance, the Central Board of Indirect Taxes and Customs (CBIC) introduced a fully electronic GST refund process via FORM GST RFD-01. This streamlined process offers businesses greater efficiency and transparency. Here’s an in-depth […]

Changes and Compliances in GSTR 9 & 9C for FY 2023-24

Changes and Compliances in GSTR 9 & 9C for FY 2023-24

Introduction The evolving landscape of GST regulations, combined with departmental audits, has significantly impacted the process of filing annual returns. This article provides a comprehensive overview of the changes in Form GSTR 9 and GSTR 9C for FY 2023-24, along with reconciliations, best practices, and solutions to advanced issues. Key Dates Reconciliations to Perform Essential […]

Real-Estate-Understanding-RCM-Provisions

Real Estate – Understanding RCM Provisions

The new GST scheme requires builders and developers, referred to as promoters, to procure at least 80% of their inputs and input services from registered suppliers (RPs). If this threshold is not met, promoters must pay GST on the shortfall under RCM at 18%. Importantly, this calculation applies project-wise rather than entity-wide. Key Notifications and […]

Comprehensive GST Updates April to November 2024

Comprehensive GST Updates: April to November 2024

The period from April to November 2024 brought several important updates in India’s Goods and Services Tax (GST) framework. This blog consolidates major GST circulars, policy updates, system enhancements, compliance requirements, and economic indicators, ensuring businesses and taxpayers stay informed about the evolving tax landscape. GST Circulars and Notifications (April to November 2024) July 2024 […]

A Comprehensive Guide to E-Invoicing Understanding, Implementation, and Benefits

A Comprehensive Guide to E-Invoicing and Tax compliance

E-invoicing has revolutionized the way businesses handle invoicing and tax compliance. This blog explains what e-invoicing is, how it works, and why it is beneficial for businesses in India. What is E-Invoicing? E-invoicing is a digital system where businesses report their invoices to an Invoice Registration Portal (IRP) for validation under GST rules. After uploading […]

Comprehensive Checklist for Accountants During GSTR-9 and 9C Filing

Comprehensive Checklist for Accountants During GSTR-9 and 9C Filing

As the financial year concludes, the responsibility of ensuring accurate GST compliance intensifies. Filing the GST annual return (GSTR-9) and reconciliation statement (GSTR-9C) are crucial for maintaining transparency and avoiding penalties. This blog provides a comprehensive checklist for accountants to ensure seamless GST compliance, especially when filing GSTR-9 and GSTR-9C. Understanding GSTR-9 and GSTR-9C Before […]

December 2024 Tax Compliance Calendar Stay on Top of Your Deadlines

December 2024 Tax Compliance Calendar: Deadlines You Can’t Miss

Managing tax compliance is essential for businesses. Missing key deadlines can lead to penalties, which can be avoided by careful planning. The December 2024 Tax Compliance Calendar outlines important dates for tax filings, payments, and submissions. Let’s explore the key deadlines and how you can meet them effectively. Important Tax Deadlines in December 2024 December […]

Comprehensive Guide E-Invoice Glossary and Step-by-Step Process

Comprehensive Guide: E-Invoice Glossary and Step-by-Step Process

To support businesses in complying with GST regulations, the Goods and Services Tax Network (GSTN) has released two valuable resources: an E-Invoice Glossary and a Step-by-Step Guide. These documents are designed to make the e-invoicing process clear and easy to follow. Let’s dive into a detailed overview and simplified explanation of e-invoicing. What is E-Invoicing? […]