With heightened sales and activity, companies focus on managing cash flow and ensuring timely tax filings, making October a key month for both celebrations and financial operations. In the realm of GST, the preceding month was notably eventful. There were several new GST Notifications that have ...
The Rajasthan government has shared the guidelines for reimbursement of late fee payable deposit under section 47. Read Order 08th March 2023 GSTN has enabled the new option of using the cash ledger balance of one GSTIN (an entity with the same PAN) to fund another GSTIN through tax form ...
Impact on banking services and products: As prevailing practice, fees and services relating to products that are not subject to GST are not impacted by the rate change. Examples of fees and services not subject to GST include: Fees incurred for the operations of current, deposit or savings acc...
This article provides an overview of the cash register functionality that is available for India. It also provides guidelines for setting up the functionality.
Generate Challan: Create your challan on the GST portal. Visit a Bank: Go to an authorized bank branch with your challan. Payment Methods: Make the payment using cash, cheque, or demand draft. Confirmation Receipt: Ensure you receive a confirmation receipt from the bank for your records. 3....
In other words, the Division 165 Supplying Entities made a loss on the transactions but their failure to pay GST meant that in a cash flow sense they profited. Issue before the Tribunal The sole issue before the Tribunal was whether Division 165 operates to deny or cancel entitlements to ...
It improves cash flow management by demonstrating a commitment to addressing issues and making necessary adjustments while sustaining good client relationships. Buyers can also use the information provided on the credit notes to ensure that their accounts are properly reconciled with tax authorities. They...
One of the key advantages of voluntary GST registration is the ability to claim an ITC for the GST paid on purchases. This might help to increase the cash flow and profitability of the company. 2. Status of the Registered Dealer You will be issued a certificate of registration. This documen...
GST TCS (CGST) 3 GST TCS (SGST) 3 Cash ledger 6The e-commerce operator will show the preceding details in the GSTR-8.Set up GST TCSGST-TCS on vendor payment by an e-commerce operator must be accounted for under the GST-TCS payable account. GST-TCS on receipt of payment from an...
The sales and purchase of units are not subject to GST. Where income is distributed in the form of unit splits or cash; or reinvestment of distribution to the unit holders, these will not be subject to GST. However, GST will be levied on the sales charge for subscription and switching ...