To ensure smooth GST compliance, it is crucial to file returns and make payments on or before the due dates to avoid interest and penalties. Regularly reconcile your books with the filed returns to avoid discrepancies. Taxpayers under the QRMP scheme should be particularly diligent about their PM...
The West Bengal taxpayers now can easily make a GST payment via UPI, debit card, and credit card. 04th July 2024 The GSTN department has enabled new functionalities for enhancing address-related fields in GST registration. View more The GSTN department has introduced new features to allow taxp...
GSTN has clarified the e-way bill requirements for goods classified under Chapter 71 in a newly issued advisory. The GST Gross and Net Collections for January 2025 have been published on the official portal. The CBIC has released a new instruction regarding the Ministry of Civil Aviation (MoCA...
This shall be reported net of credit notes, debit notes and amendments if any. C. Zero-rated supplies without payment of tax: Value of zero-rated supplies (including supplies to SEZs) on which tax is not paid shall be declared here. This shall be reported net of credit notes, debit ...
GST payments online can be made through various modes, such as Net Banking, Debit/Credit Cards, etc., or over-the-counter at authorised banks. 7. Make the payment If you pay GST online, you will be redirected to a secure payment gateway. Enter the payment details and follow the ...
Adjust a GST payment You can make an adjustment while filing your taxes. In the Returns tab, select Prepare return. On the Prepare GST return page select Adjust. Use this when you need to decrease or increase the amount of GST payment for things like credits, discounts, fines, interest, ...
Your customers can then immediately initiate a transaction to make the payment. Additionally, your customers can also download the invoice and save it for future reference. If you want to initiate partial payments on an invoice, that can also be carried out transparently to ensure all your busine...
Calculating the net price of a product or service by adding GST Removing GST from a price that includes GST 1. In the case of GST addition You must use the following GST formula to add GST to the price of the product or service: Product price + applicable GST = final price (Price x...
Under the “E-Payment” section, choose your preferred payment method. Fill in all the required details and click on “Generate Challan” for the GST challan generation. Select the “Net Banking” option to proceed with the payment. Choose the bank through which you want to make the payment...
Go to Accounts payable > Vendor, select a vendor, and then, on the Tax information FastTab, set the Apply GST TCS option to Yes. Repeat this step for every vendor that GST TCS must be deducted for. Record the GST TCS on customer payment transactions. If the supplier must record GST ...