The Goods and Services Tax has announced a landmark change in the GST compliance framework. Effective 1 July 2025, the GSTR-3B return will be locked immediately after filing, and taxpayers will not be permitted to make any corrections or amendments once the return is submitted. This change is designed to strengthen data integrity, reduce fraudulent …
India’s Goods and Services Tax (GST) system was launched with the intent to streamline taxation and foster ease of doing business. Yet, for small and medium enterprises (SMEs), navigating the complex GST regime has presented a host of compliance hurdles. With limited resources, evolving rules, and tight margins, SMEs often find themselves struggling to meet …
Introduction The Goods and Services Tax (GST) regime in India has introduced various forms and procedures for different categories of taxpayers. Among these forms, GSTR-11 is designed for a distinct group of taxpayers—those who hold a Unique Identity Number (UIN). This guide will provide you with everything you need to know about GSTR-11, including its …
Introduction: In the dynamic landscape of business transactions, relationships between related parties play a pivotal role in shaping economic activities and driving growth. However, when it comes to taxation, especially under the Goods and Services Tax (GST) regime, these transactions between related parties necessitate a thorough understanding of valuation rules to ensure compliance and fair …
What is an Exchange Rate? A change price is the fee at which one foreign money is exchanged for any other forex. Exchange prices are determined with the aid of forces of supply and demand, which are in turn inspired by means of a number of factors. Exchange prices are very vital to change and …
After the implementation of Goods and Services Tax (GST), the Government received some feedbacks on the advantages and disadvantages of GST. The GST acts as a Value Added Tax (VAT) and designed as a complete indirect tax charge on manufacture, sale, and consumption of goods as well as services at the national level. It shall …
In case of non-furnishing of return under Sec. 39 or Sec. 44 or Sec. 45 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”). It has further been brought to the notice that divergent practices are being followed in case of non-furnishing of the said returns. In order to clarify …
1. GST Press Release Dated 14th November,2019 : Due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 extended to 31 st December 2019. 2.Due dates of filing of kind GSTR-9 (Annual Return) and kind GSTR-9C (Reconciliation Statement) for year 2018-19 to extended thirty one st March …
Litigation support services include comprehensive, customizable consultation projects taken on by businesses specializing writing and also the development of personalised electronic databases. Typically, these projects are performed for a business firm or legal skilled, however designing for litigations is important for all firms. Services provided through litigation support partners will include something from document scanning …
Income Tax Return is a document an individual is required to file with the Income Tax Department on a yearly basis. However, it is not mandatory for everyone to file the Return. If your income in the previous year is above the basic exemption limit of INR 2,50,000 (Rupees Two Lakh Fifty Thousand only), then …