The GST portal has introduced negative values in Table 4 which comes under form GSTR 3B return. read more The central government has shared a press release related to all updates of the 49th GST Council meeting. Read more 06th February 2023 For Financial Year 2023-24, regular taxpayers can...
When it comes to tax registration, the law stipulates that any business that sells tangible personal property at retail or furnishes any taxable service should register for GST. By registering for this tax, the business can also obtain a sales tax license, certificate, or permit, which serves ...
Under certain conditions, you can claim this input tax from the government in the right accounting period. The conditions to claim your input tax are: Your business is GST-registered. The purchase or import of goods or services are addressed to your company. The goods or services are for ...
Set up enterprise tax registration numbers. On theEnterprise tax registration numberspage (Tax>Setup>Sales tax>Enterprise tax registration numbers), create enterprise tax registration numbers for companies, vendors, and customers. Companies:Create an entry for the Goods and Services Taxpayer Identification...
Along with this, our monthly Newsletter – IRIS GST Times completes 3 years this October thus we are releasing a celebratory Anniversary Issue which comes with loads of value-added free GST resources like e-books, informative articles, case studies and our IRIS Peridot Diwali Dhamaka Contest – ...
If there’s any Input Tax Credit that is claimed or practised Output Tax which is payable and if paid When under the guidelines of the act and there was an e-way bill that was generated E-invoice and if IRN is generated and is has a record additional accounts which are communicated by...
The system needs clarity on several aspects such as precise categorization of goods and services, and tax rates for various goods and services are yet to be fixed. Every next GST council meet comes up with newer agenda for dealing. Moreover, the shift from origin-based to destination-based ...
The choice of whether to register for GST depends on how much in your business you deal with GST charges and whether you wish to be able to claim this back when it comes time for tax filing. GST free products and servicesIn most countries, there are certain goods and services that are...
It seems that delivery apps have created some confusion when it comes to these temporary tax rules because the government still requires tax to be charged on the delivery service itself even if the food and drinks being ordered are tax exempt. ...
Finally, the value of interstate supplies, which refers to the movement of goods or services from one state to another, made by persons under the same PAN across India is incorporated in the aggregate turnover calculation. Exclusions There are certain exclusions when it comes to aggregate turnove...