1. Online Payment via GST Portal Log In: Access the official GST portal with your credentials. Create Challan: Navigate to the ‘Services’ section, select ‘Payments,’ and then ‘Create Challan.’ Select Tax Head: Choose the appropriate tax heads and input the payment amount. Choose Payment...
Here are some of the common mistakes that businesses commit during GST payment online and how to avoid them: Incorrect tax amounts: Double-check the tax amounts reported in the return. Ensure that the amounts match your records and the payments made. Mistakes in reporting can lead to discrep...
The 2024 GSTV disbursement is scheduled for August 2024. It amounts to $1.4 billion, encompassing both GSTV-Cash and GSTV-Medisave, which is approximately $200 million more than in 2023. This slight increase in payment can be attributed to the projected inflation rate and economic growth for ...
Taxpayers are now permitted to transfer amounts in Cash Ledger from one GSTIN to another GSTIN on the same PAN using GST PMT-09 form. View more 23rd March 2023 New guidelines related to the 6-digit valid HSN code in the e-Invoice on IRPs official portal. read more 22nd March 2023 The...
Payment of principal loan amount and interest (monthly instalment) are not subject to GST. Are there loan-related fees that will be subject to GST? Application fee and audit confirmation of customer's loan accounts are subject to GST. Is stamp duty subject to GST? Stamp duty is not subject...
Razorpay's online GST calculator helps you calculate GST for your business goods in 3 simple steps by entering net price, profit margins and GST tax slabs.
Recently, on June 22, the GST Council held the 53rd GST council meeting, and introduced a conditional waiver of interest and penalties under Section 128A, and reduced pre-deposit amounts for appeals to ease taxpayer compliance. It also extended the GSTR 4 filing deadline and introduced FORM...
Step 2:Within seven days of receiving the application, the officer must issue an order in Form GST RFD-04, approving the GST refund amount on a provisional basis. Step 3:Under Form GST RFD-05, the officer will issue payment advice that will be electronically credited to your bank acco...
Sections 73 & 74 Changes: Unified time limit and extended penalty payment period from 30 to 60 days. Monetary Limits for Appeals: GST Appeals: Rs.20 lakh for GST Appellate Tribunal, Rs.1 crore for HC, Rs.2 crore for SC. Sections 107 & 112 Amendments: Reduced pre-deposit amounts for ...
You can enter a positive or negative amount. Note: GST can get complicated. If you have questions, reach out to your accountant or tax agency. Delete a GST payment Go to Taxes and select the Payments tab. Select Delete from the Action column. Then select Yes to confirm....