All posts in "GST"
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8 Reasons to Shift from Manual Accounting to Computerized Accounting

5 days ago

Introduction There is one key aspect which business owners have been typically neglecting over the years, which needs to be computerized just like the rest of the business. Yes, we are talking about the language of business – accounting. Just like how language is the backbone of communication, accounting is the backbone of the business. […]

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5 Steps to Make GST Returns Filing Easier

last week

Introduction The GST regime is very different from the previous indirect tax regime, in more ways than one. However, the biggest difference is in the nature of compliance, which has undergone a major change. In the previous regime, it was not mandatory for a buyer or supplier to reconcile their invoices before filing onto the […]

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The Best Way to File GSTR1 Returns

a couple of weeks ago

Introduction The GST filing period has begun! “How do I and my tax consultant file GST returns for my business?” – is the one question that is likely to linger on top in your head, among others. This blog suggests the best method for filing returns accurately. Let us begin by making a note of […]

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Actions for submitting GSTR-2

a couple of weeks ago

In our previous blog, we discussed what is GSTR-2 and the relevance of GSTR-2A with GSTR-2. We also understood that auto-populated details of inward supplies from GSTR-2A will be available in GSTR-2. Though the details are auto-populated, you are required to prepare the return before submitting it. The preparation here refers to a reconciliation of […]

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What is GSTR-2 and GSTR-2A

3 weeks ago

The extension of due dates to file GSTR-1, GSTR-2 and GSTR-3 of July 2017 is a welcome move, as it provides an additional time for businesses to prepare the accurate returns for better compliance. Now, the businesses are required to file GSTR-1 by 10th October 2017, GSTR-2 by 31st October 2017 and GSTR-3 by 10th […]

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Recommendations Made by the GST Council

4 weeks 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 […]

18 Shares

How to Correct GSTR-3B?

last month

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 […]

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Challenges with Manual Billing and Ways to Overcome it

last month

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 […]

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Watchout: Payment Patterns may Change after GST

last month

Payment Pattern After GST With GST one of the biggest change in habit would be that accounts need to be maintained regularly on a daily basis and the pressure on compliance would then become much lesser because then it becomes a normal activity. If the accounts are not being maintained regularly then it could end […]

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4 Steps to become GST Ready

last month

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 […]

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