All posts in "GST"

Recommendations Made by the GST Council

6 days ago

The 21st GST Council meeting held at Hyderabad on 9th September 2017, discussed some of the crucial issues such as difficulties faced by the businesses in filing the return, increase on Cess on cars, proposals received from various trade associations to lower the rate of GST on certain products and so on. To facilitate the businesses in […]


How to Correct GSTR-3B?

last week

The deadline for filing the first GST return, the Form GSTR-3B ended last month on dates August, 25 and August 28, 2017. Yet, there are many businesses which are still in the process of filing Form GSTR-3B. This being the first GST return and understating the plight of the businesses, the committee has decided to […]


Challenges with Manual Billing and Ways to Overcome it

a couple of weeks ago

Do you still record your bills manually in the GST era? Two months have passed since GST was rolled out across India. As a business owner, you might be used to managing all your billing and business transactions manually in books? Subsequently, you might also be sharing the manual records with your tax consultant for […]


4 Steps to become GST Ready

3 weeks ago

The much awaited, much debated GST is now a reality. From the midnight of 30th June leading into 1st of July, most businesses across India were able to seamlessly continue their business, since they had taken the necessary steps to welcome the GST era. But in case you haven’t, don’t worry, it isn’t too late […]


How to File GST Return (Form GSTR-1) using Tally.ERP 9 Release 6

3 weeks ago

The day when businesses across India will file the GSTR 1 for the first time is not too far (5th September 2017).  We are happy to announce that GST-ready Tally.ERP 9 Release 6.1  release is available now. Using this release, you will be able to generate Form GSTR 1 as per the requirements of GST […]


When do you have to Pay Tax on Reverse Charge Basis?

last month

Reverse charge is a concept we were familiar with, in the previous tax regime. To put it simply, under reverse charge, the liability to pay tax on a transaction to the Government is to the recipient. Under Service Tax, it was applicable in the case of specific notified services. Under VAT, in almost every state, […]


Govt extends GST returns filling deadline for cos who want to claim credit for past taxes

last month

The deadline for first GST Return, GSTR 3B, has been extended (states are still coming up with Notifications) to August 28 from its original deadline of August 20. However, one must keep in mind that this is only for taxpayers who opt to use the opening balance of pre-GST credit in the current month. Those […]


Handling Reverse Charge Scenario of Import Supplies in Tally.ERP 9

last month

What does the GST Law say? GST law, under Article 269A, considers import supplies of goods and/or services, as Reverse Chargeable. Under GST, a supply will be considered as an import when: a) The supplier of the service is located outside India. b) The recipient of the service is located in India, and c) The […]


Managing Form GSTR 3B in GST-Ready Tally.ERP 9 Release 6

last month

Introduction to Form GSTR-3B By now, all of us are aware that the government has relaxed the GSTR 1 and GSTR 2 timelines. The upload of first GSTR 1, presumably, will be in the month of September 2017, for the months of July and August 2017 and rest of the activities and formalities will follow. […]


Want to Register under Composition Scheme in GST? Check your Eligibility

a couple of months ago

Businesses have to balance between managing their business and strive towards profitable venture. At the same time, caution and care require towards compliance to various laws of the land. Over the past decade, with compliance in our country, though have taken the technology route, the amount of information to furnish has increased. This naturally calls […]

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