How to Correct GSTR-3B?

a couple of months ago
GSTR 3B

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

a couple of months ago
gst

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

a couple of months ago
Payment Pattern After GST

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

a couple of months ago
GST

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 couple of 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 couple of 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 couple of 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
gst

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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