GST Compliance Calendar October 2022

GST Compliance Calendar for the month of October 2022. Never miss a GST due date with our comprehensive Calendar for GST Due Dates October 2022. Read all the GST Updates here…

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Top GST News for the Month | Latest GST Updates

GST is a dynamic law and is changing frequently. Stay updated with the latest GST News and Notifications. All the latest GST updates in one place!

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Updates in GSTR 3B – July 2022 | GSTR 3B and ITC Eligibility

GSTR 3B witnessed a bunch of updates in July 2022 after the two-day-long 47th GST Council Meeting. The CBIC has announced a bundle of clarifications and updates through the latest GST Council Meeting recommendations, GST Notifications and Circulars. Read the article to learn all about changes and updates in GSTR 3B, new table addition and ITC eligibility.

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Clarification regarding incomplete GSTR 2B for April 2022 | May 2022

There was some issue with GSTR 2B and taxpayers were not able to view their records. Read the clarification and CBIC’s recent notifications 05/2022 and 06/2022.

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Reporting 6% rate in GSTR-1 | New GST Advisory

The GSTN has released a new advisory on 10-05-2022 regarding the 6% reporting rate in GSTR-1. As per GST Notification No. 02/2022, a new tax rate of 6% IGST or 3% CGST+ 3% SGST has been introduced on certain commodities. Taxpayers who must report items at this rate may do so temporarily by reporting the entries under the 5% category and then manually increasing the system computed tax amount to 6%.

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The requirement of Table 6 in GSTR 4 | Negative liability in GSTR 4

As per the new advisory released by GSTN, the entire year’s liabilities must be declared in table number 6 of GSTR 4 and if there is no liability, the table can be populated with zero value. Read the article to understand the cause of negative liability in form GSTR 4.

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GSTR 1/IFF Enhancements | GSTR 1 Filing Process Changes 2022

GSTR-1 filing process changes are seen time and again. The GSTN has made new changes regarding the GSTR 1/IFF filing process. In tune with this change in the GST system, we have updated our GSTR 1 filing process. Read in detail here!

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GST Year-End Checklist: 14 Tasks To Be Completed

There are certain tasks that taxpayers need to carry out as FY year end activities and some mandates start from 1st April 2022. And like every year, this year again we have brought you a GST Year-End checklist of all the activities that you need to complete before the financial year ends.

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Effective 1st April 2022, Reset the Invoice Number Series

Rule 46 (b) of the CGST Rules 2017 suggests that any tax invoice should have a 16 character alpha-numeric invoice number unique for a financial year.

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Union Budget 2022: Important GST Changes

The finance bill 2022 was announced the same day as Union Budget that listed key changes in GST that can significantly impact taxpayers and business owners across all spheres. In this article, we discuss the key areas that have seen multiple changes in GST laws and rules.

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Budget 2022 Highlights: Key Decisions in Infrastructure, Cryptocurrency and more!

Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman announced the official budget for 2022 on 1st February. Some major decisions have been made for healthcare, infrastructure development, tech-enabled development, and several decisions under the PM Gati Shakti scheme. Announcements have also been made regarding the digital economy, bitcoin, and climate actions. Read them in detail here!

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10 Factors to Consider for Defining ITC Strategy for 2022

GST Notification 39 and GST Notification 40 issued during the end of Dec 2021, specify the rules for claiming Input Tax Credit with effect from 1st Jan 2022. The rules state that ITC on a provisional basis cannot be claimed henceforth. Here’s what you can do to define your ITC strategy for 2022 for availing maximum ITC claim.

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