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The IRISGST Times

Volume 77  |  May, 2024

What’s Inside

Dear Readers,
Welcome to the latest edition of our IRIS GST Times Newsletter!  

May is a particularly crucial month for taxpayers in India, as it often brings with it a host of annual and quarterly compliance deadlines. As the fiscal year-end activities wrap up and new fiscal year obligations commence, staying updated with the latest GST news is essential to ensure compliance and optimize tax planning strategies.
This edition delves into key updates that have the potential to impact businesses, consumers, and the economy at large. So, whether you are a business owner, a tax professional, or simply someone interested in the economic affairs of India, our detailed analysis and insights will keep you updated.
Here’s a glimpse of what’s inside this month’s edition:

  • Top GST News & Updates in May 2024
  • Our Industry Interactions via Webinars & Events
  • IRIS ASAP
  • Compliance Calendar for June 2024

Read on to discover the latest trends, decisions, and discussions shaping the GST regime in India this month.

Thank you for choosing to stay informed with us.
Happy Reading!

Warm Regards,
Gloria Gomes,
Editor, IRISGST Times

Latest GST Updates
This along with all the other GST updates, notifications released for the month, read ourTop GST News of the Month.
Latest GST Financial News (1)
The Reserve Bank of India (RBI) has mandated that full-fledged money changers must ensure the value of foreign currency notes sold to the public is at least 75% of the value bought from other money changers each quarter. Effective from July 1, 2024, this aims to prevent idle currency balances. Money changers must maintain and provide data for audits and submit annual audited balance sheets with a statutory auditor’s certificate by October 31 each year.

GST Updates

Product Highlight

Are you ready to revolutionize your accounts payable process? Here’s how IRIS ASAP can elevate your business operations to new heights of efficiency and accuracy!

Here’s why IRIS ASAP stands out as your top choice for AP automation:

  • Streamlined AP Processes
  • Customizable Workflows
  • Digital Document Management
  • Automated Data Extraction
  • Three-Way Reconciliation
  • Automated Non-PO Processing
  • Real-Time GST Validation
  • Simplified Audits
  • Improved Vendor Relations

IRIS ASAP isn’t just an automation tool it’s a holistic AP solution that streamlines
operations, boosts compliance, and elevates financial management.

GST Compliance Calendar

Here’s a detailed GST Compliance Calendar to help you in staying compliant with GST regulations. It comprises all GST due dates for the month of June 2024. 

Click here to read: GST Due Dates- June 2024 Calendar

By Swati Ajmera

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We hope you enjoyed reading this issue of IRIS GST Times and found it informative!
Do write back to us and let us know what was a hit or miss for you.
Our email id : support@irisgst.com

We welcome and value every feedback, be it via comments, replies on Social platforms or emails.
Thank you for appreciating our efforts and staying connected.

CONTACT US

Have feedback for us?  Want to request for our product demos? Please reach out to us at

Website :  https://irisgst.com/

Phone :  +91 22 6723 1000

Email :  support@irisgst.com

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