Change or Perish: New Year – New Resolutions in Business
The new year is around the corner, and we normally come across resolutions adopted by the people for the beginning. Now the same has intruded into the business, especially from the GST perspective. It is the time for the business to take resolution and then take it forward else the entrepreneur cannot reach his goals. […]
All About Input Tax Credit Restriction
Self-Assessment of the liability and input tax credit are the two business-friendly measures rolled out in GST, and it is being misused by a section of the taxpayers. As a result of it, to curb the tax evasion on the supply side, e-way bills were introduced, and now it is completely operational. On the input […]
No extension of last date for filing GSTR-1 for July, 2017
PRESS RELEASE 9 th October, 2017 No extension of last date for filing GSTR-1 for July, 2017 The last date for filing GSTR-1 for the month of July, 2017 is 10th October, 2017. An extension of two months has already been given. There will be no further extension given to taxpayers for filing their […]
GST Tip – 334
Data in GSTR – 2A will remain available for a tax period till the supplier files or submits his GSTR – 2 for the tax period.
GST Tip – 333
GSTR – 2A is an auto-populated draft inward supplies return based on the supplier of goods or services filed through GSTR – 1 (outward supplies), GSTR – 5 ( filed by non-resident taxable person), GSTR – 6 (filed by input service distributor), GSTR – 6 (filed by Tax deductor at source) & GSTR – 7 […]
GST Tip – 328
In case if the supplier of the goods or services has uploaded the invoice but not filed the GSTR – 1 return, the same will be shown in “invalid” status in the GSTR – 2A of the recipient of the goods or services or both.