GSTR 9C form has a reconciliation statement for reconciling turnover, input tax credits and tax payments. Let’s see in brief about GSTR 9C
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Aspects like handling Freight, TCS, and Discounts in E-invoicing can be a concern for many. Especially now, that the e-invoicing turnover limit has been reduced to small businesses.
GSTR 9C - Taxpayer who’s aggregate turnover exceeds 2 cr. and need to audit his accounts under GST.
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.
The amount of input tax credit reversed as per this provision shall be added to the output tax liability of the Registered Person for the month in which the details are furnished.
In the Annual Return GSTR 9, as we all know, details of outward and inward supplies along with ITC claimed, reversed, tax liability, tax payment and the adjustments are to be reported.
GSTR-9 is an annual return form that needs to be filed once a year by registered taxpayers under GST disclosing a detailed summary of outward supply and taxes paid thereon.
The withdrawal of exemption on export freight has affected exporters and transporters severely. In this article, we will discuss the new change that has been implemented, how much air freight and ocean freight is now applicable, the ITC issues and also the history of this exemption.
It is mandatory for the taxpayers to report a minimum 4-digit or 6-digit HSN Code in table-12 of GSTR 1 on the basis of their Aggregate Annual Turnover (AATO) in the preceding Financial Year. To facilitate the taxpayers, these changes are being implemented in a phase-wise manner.
Meta Description: GST Changes from 1st October 2022 Onwards | We have collated all the significant GST changes being applicable from 1st October 2022 onwards that you need to be aware of!
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.
‘Input Distributor Officer’ is one of the most crucial concepts in the Indian economy, especially for the big players in the market.
