Application for Registration for TCS collector is to be filed in REG-07. Registration certificate to be issued in REG-06.
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GST MIS Reports help CFOs and decision makers of a company take informed decisions for the organisation by coordinating, controlling, analysing, and visualising factual data which is presented in a crisp and orderly manner. Read more to get valuable insights.
Every month’s GST filing, you need to reconcile your purchase data with all your suppliers’ sales data that they have uploaded on GSTN.
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
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.
CBIC has laid down new guidelines regarding sanction, post-audit, and review of GST refund claims. Here, we will touch upon important changes that CBIC established in accordance with the new circular.
Taxpayers with turnover between Rs. 5 Cr. and Rs. 20 Cr. are enabled for testing on Sandbox. Read the article to learn if your business has crossed the e-invoice turnover limit 2022
The GST MIS report is a smart feature that enables top management or decision-makers to quickly assess the compliance level. MIS reports will offer a thorough analysis of mismatches, total GST turnover, maximum ITC utilisation, and other decision-making criteria.
There are several reasons for facing mismatches in the two including but not limited to furnishing supplies under the wrong head in GSTR 3B or the time difference between filing GSTR 1 and GSTR 3B. This Recon is important as it reduces the chances of omission and duplication of invoices among a lot of other advantages mentioned in the article.
PMT-03A is an annexure to the existing form PMT-03. The form, issued by the CBIC in Circular No. 174/06/2022-GST dated July 06, 2022, allows the proper officer to re-credit the amount in the taxpayer's electronic credit ledger.
A quarterly statement cum challan, form CMP 08 shall be used to declare the self-assessed details of the tax payable by a composite dealer in the given quarter.
IRP for e-invoicing stands for Invoice Registration Portal which is an official platform provided by the government of India for businesses to generate e-invoices under GST. With the expansion in the scope of the e-invoicing mandate, IRIS has been appointed as the Invoice Registration Portal (“IRP Partner”) of GSTN, which permits us to act on behalf of GSTN to register B2B e-invoices of trade and industry.
