Demystifying ITC Reporting in GSTR-9: Strategies for Accuracy and Compliance

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.

Share
Mastering Year-End GST Reconciliation: Tips and Best Practices

Year-end reconciliations are pivotal for businesses operating under the GST regime. Read to know the significance of filing GSTR-1 and GSTR-3B.

Share
Leveraging Tax-Technology for streamlining ITC

This article explores the pivotal role played by technology in simplifying ITC management, from automated data extraction and real-time reconciliation to seamless integration with accounting systems.

Share
2B or not 2B:10 checkpoints to maximize your ITC Claim

Checklist to maximize ITC Claim | ITC Claim under GST | GSTR 2B and GSTR 2A | Role of GSTR 2B in ITC Claim | ITC Maximization | Read more

Share
ITC is Available even in case of a Mismatch of 2A: GST Circular 183/2022

CBIC has issued a GST circular no 183/2022 clarifying the procedure to be followed for dealing with the difference in ITC availed in GSTR-3B as compared to that detailed in GSTR-2A for FY 2017-18 & 2018-19

Share
4 Key Aspects of ITC Computation

ITC Computation is fundamental for businesses to ensure maximum ITC claim as it can help have more working capital. In this article, we will discuss 4 key aspects of ITC computation in detail.

Share
Maximize ITC Claim: Here are 4 things you need to do!

The ultimate objective of every taxpayer is to maximize ITC claim while following all the conditions and rules of GST law. The success of this goal depends on the internal practices and tools used and some external factors such as vendor compliance. Here, we discuss, 4 important aspects to maximize ITC claim.

Share
Input Service Distributor: 5 Aspects of ITC Distribution

‘Input Distributor Officer’ is one of the most crucial concepts in the Indian economy, especially for the big players in the market.

Share
Your 3-step Guide to a Hassle-free Reconciliation under GST

Every month’s GST filing, you need to reconcile your purchase data with all your suppliers’ sales data that they have uploaded on GSTN.

Share
All about Input Tax Credit (ITC) | How to claim ITC?

Input Tax Credit or ITC under GST is the credit back of the tax a registered GST taxpayer pays on inputs i.e. purchases. This tax he is liable to get back from the government. Read more

Share
GST Reconciliation for IDT Teams: Types, How to, Importance, ITC Computation, Common Issues

The term ‘reconciliation’ means to compare two sets of data entries to identify any mismatches or variances. The data sets are of the same origin but come from different sources. It is a practice for correcting errors in the process.

Share
Utilization of Input Tax Credit under GST Rule 88A, Section 49A and 49B

Updates: 23 April 2019 – Presently, the common portal supports the order of utilization of input tax credit in accordance with the provisions before implementation of the provisions of the CGST (Amendment) Act

Share