The new financial year starts tomorrow, and there are many activities to be done as per year ending for the organization. Apart from those year-ending activities, some changes must be done from 1st April 2021 with respective compliances from GST, Income Tax & MCA purposes. These changes are statutory for some and for some in […]
Do not have time to read, you can listen to the podcast here From 1st April 2021, some changes are being made in Goods and Service Tax which taxpayers have to follow and implement the same. e-invoice e-invoice is required to be issued by all registered taxpayers having turnover above rupees fifty crores for all B2B […]
In the Final GST Returns, for the HSN Summary in GSTR – 1, the HSN codes are not mandatory for turnover upto Rs 1.5 Crs and two digits of HSN Code mandatory for turnover from Rs 1.5 Crs to Rs 5 Crs and for turnover above Rs 5 crs, four digits of HSN code are mandatory.
As per the Final Returns Formats, supplies to B2C have to be shown in Table 7 of GSTR – 1, grouped by Tax Rates only for Intrastate and Interstate supplies. In the case of interstate supplies, it has to be grouped by State Code and then by Tax Rates. HSN Code /SAC Code along with […]
As per the GST Return Formats, In table 5 of GSTR – 1, all inter-state outward supplies to B2C has to be shown here. Columns for Recipient’s State Code, Name of the Recipient, HSN Code, Classification of the line as the supply of Goods or Service and Tax paid on the Provisional basis.