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 – ...
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...
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 – ...
Comes under GST, with power to levy excise duties. Entertainment tax levied by local bodies The power to levy tax remains with the local bodies. Five petroleum products petroleum crude, diesel, petrol, aviation turbine fuel and natural gas GST Council to decide the date from which GST will be...
ITC cannot be claimed after November of the following financial year or upon submitting the relevant annual return, whichever comes earlier. Time limit to Claim Input Tax Credit Under GST The time limit to claim Input Tax Credit (ITC) is 30th November of every financial year. Failing to claim...
Under the new GST regime, this registration threshold limit was increased to Rs. 40 lakhs and Rs. 20 lakhs for businesses operating in specific special category states. This has provided relief to many small service businesses. Enhanced compliance checkpoints Before the new tax regime, VAT and ...
Thecomposition schemeis a simplified tax structure for small businesses. If you opt for this scheme, you must register under GST, even if your turnover is below the threshold limit. This scheme offers lower tax rates but comes with certain restrictions. ...
GSTR 10 3 months of the registration cancellation date or order cancellation date, whichever comes late Regular Last Dates of GST Return for Indian Tax Payers GST FormsGST Due DatesAssociated Tax Payers GSTR 1 Divided into 2 categories, Up to 1.5 Crores (Last Day of the Succeeding Month Quar...
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...
Tax amount under each head -IGST/CGST/SGST/ UTGST/Cess Note –Under new GST return filing system, the supplies trade is not to be declared on a net basis. In case to furnish a credit or debit note you will have to click on the drop down list and select “Document Type” from the...