The Invoice Management System (IMS) has been a pivotal tool under the GST framework, aiding taxpayers in invoice reconciliation and Input Tax Credit (ITC) management.
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Read major GST Changes and GST updates effective from 1st November 2024. These changes are aimed at streamlining processes, enhancing compliance, and providing relief to taxpayers.
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GSTR-1A is a form that allows taxpayers to correct or amend details of outward supplies reported in GSTR-1 before finalizing their GSTR-3B return for the same tax period.
Navigating the complexities of ITC reporting in GSTR-9 is crucial for GST compliance and optimizing tax benefits. This guide delves into the nuances of accurately reporting Input Tax Credit in your annual returns, offering insights and best practices to ensure compliance.
Discover the ins and outs of GSTR-3B in this comprehensive guide, designed to demystify the complexities of GST compliance. From understanding its significance to navigating recent updates, learn how to avoid common errors and optimize accuracy in your tax filings.
Year-end reconciliations are pivotal for businesses operating under the GST regime. Read to know the significance of filing GSTR-1 and GSTR-3B.
Effective January 2024, the GSTN implemented the introduction of Tables 14 & 15 in GSTR-1 and streamlined reporting for e-commerce operators (ECOs) and their suppliers.
Electronic Credit Reversal and Reclaimed Statement - In this article, we understand the significance of this new system, its impact on taxpayers, and the steps taken to ensure a seamless transition.
As per the Finance Act – 2021, a proposal was released to omit certification by CA by amending Section 35(5) of the CGST Act. In the 43rd GST Council Meeting, the finance ministry reaffirmed this suggestion for changes in furnishing the reconciliation statement GSTR 9C with self-certification instead of by CA/CMA. Read all the changes related to GSTR 9C self-certification here…
GSTR 9 is an annual return form that a regular taxpayer is required to file for his/her annual turnover. The form requires invoice details for inward and outward supplies as procured by the given business.
