Complete Guide to GSTR9: Applicability, Categories, Structure, and Filing Process
The GSTR9 annual return is an essential compliance requirement under India’s GST system. It serves as a consolidated summary of the year’s GST activities for taxpayers, including outward and inward supplies, taxes paid, input tax credits (ITC) claimed, and any reconciliation required. This blog simplifies everything you need to know about GSTR 9: its applicability, […]
55th GST Council Meeting: Key Agendas and Expectations
The 55th GST Council Meeting is scheduled for December 21st, 2024, in the historic city of Jaisalmer, Rajasthan. As a highly anticipated event, this meeting is set to address critical issues in India’s Goods and Services Tax (GST) framework, aiming to foster economic growth and improve tax compliance. Let’s explore the agenda and potential implications […]
The Rise of Virtual CFOs: Adapting to the New Era of Financial Management!
In today’s fast-paced and interconnected world, the landscape of financial management is undergoing a significant transformation. Businesses are embracing digital tools, remote work environments, and innovative strategies to stay competitive. One of the most notable trends is the emergence of Virtual Chief Financial Officers (CFOs). This new model of financial leadership is reshaping how businesses […]
The Rise of AI-Powered Business Models in 2025
In an era defined by rapid technological advancements, artificial intelligence (AI) continues to revolutionize industries and redefine how businesses operate. As we step into 2025, AI-powered business models are no longer a futuristic concept but a thriving reality that is shaping the global economy. From automating routine tasks to providing deep insights through data analysis, […]
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 […]
Benefits of Hiring a Virtual CFO: From Cash Flow to Compliance!
In today’s dynamic business environment, financial expertise is crucial to ensure long-term success. However, not every business can afford a full-time Chief Financial Officer (CFO) to handle strategic financial planning, cash flow management, and regulatory compliance. This is where a Virtual CFO steps in as a cost-effective and flexible solution. A Virtual CFO provides businesses […]
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 […]
Understanding the Difference Between Table 8A and 8C in GSTR-9 for FY 2023-24
The Goods and Services Tax (GST) system is always evolving, and taxpayers need to stay updated. For FY 2023-24, changes in the way Input Tax Credit (ITC) is reported in Table 8A and Table 8C of GSTR-9 have caused confusion for many businesses. This guide explains these changes and offers practical solutions to common issues. […]
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
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 […]