All posts in "GST"
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4 Steps to become GST Ready

a few months 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 […]

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

a few months 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 […]

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

a few months ago

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, […]

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

a few months ago

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 […]

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GST INTERIM RETURNS: OVER 30 LAKH PAID TAX IN AUGUST, MATCHING JULY TREND

a few months ago

While the number of businesses registered for the goods and services tax (GST) has crossed 90 lakh, much higher than tax base in the previous regime, the filing of even the interim (summarised) returns and tax payments are not keeping pace. Just over 30 lakh taxpayers have filed the interim return (GSTR-3B) for August, before […]

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

a few months ago

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 […]

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

a few months ago

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. […]

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

a few 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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Beware! After GST, Choosing a Wrong Vendor can Kill your Business

a few months ago

With GST, there has been a fundamental shift in how your books are maintained. Till now in the entire tax regime, the only version of the truth was how you maintained your books. All your filings flowed from that. In the GST era, there is one set of reporting that you are doing, but there […]

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How to get Highest Compliance rating in GST and Maintain it in Easy Steps.

a few months ago

What is a GST compliance rating? | GST compliant software It is a rating provided by GSTN to each business on this basis of his behavior on the portal. It is based on many factors which include your discipline in meeting the deadlines set by GSTN, furnishing minute details of invoice for credit utilized by […]

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