Understanding Demand Notice under GST

Understanding Demand Notice under GST Under the GST regime, the responsibility of assessing the tax liability falls on the taxpayer himself. While self-assessment spares the GST officials from the cumbersome

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Reversal of ITC for Real Estate Developers

The 34th GST Council held on 19 March 2019, announced the modalities for the lower effective GST rate for Real Estate Sector. The slashed GST rate i.e. 1% in case

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Casual Taxable Person under GST

The provisions made under GST define a Casual Taxable Person as any individual who transacts goods and services occasionally while acting as a Principal, Agent or in any other capacity

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Composition Form CMP 08 – All you need to know!

April 2019, CBIC introduces form CMP 08 for the composite dealers in India. Form CMP 08 (Replacing form GSTR 4) is a quarterly return form and will be applicable from

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Do You have Missing Invoices in Your GSTR 1?

As registered taxpayers, entities need to file various returns based on their nature of business and the type of registration obtained. Returns filing under GST is often perceived as a complicated activity

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Introduction of Manual Checks in IGST Refunds

In a bid to minimize tax fraud using bogus bills, the Central Board of Indirect Tax and Customs (CBIC) introduced “Manual check” for its Customs and GST formation before the

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Multi-Vehicle Option in EWay Bill Generation: Explained in 7 Simple Steps

Update: 26 June 2019:  IRIS Topaz goes live with Multi Vehicle Option in EWay Bill Generation India, is a big economy with wider geographical anomalies. Here people live in terrains,

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Accounts and Ledgers under GST

As a part of digital India initiative, the indirect taxation system of India was so crafted to go hand in hand with the technology today. However, in order to ensure

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Consolidated E-way Bill: Requirement and Importance

E-way Bill provisions are effective almost in all states for inter and intra-state transactions. E-way Bill is to be issued irrespective of whether the movement of goods is caused by

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Late Fees and Penalties under GST

Under the GST regime, one issue that has been persistent ever since the introduction of GST in 2017 is the inconsistency in GST Return filings by a registered taxpayer. In

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ACES Functionality Migrated and Integrated to CBIC-GST Portal

ACES or Automation of Central Excise and Service Tax is a centralised, web-based software that allows a user to automate the processes of Central Excise (CE) and Service Tax (ST)

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HSN Code and SAC under GST: A Move towards Standardisation

Over the years, trading has grown from being contained within the local marketplace to and beyond the national borders. Today, the world is the marketplace, with traders reaching out making

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