March 31, 2026 deadline for key Income Tax and GST compliances: Time to take action now to prevent penalties and late feesTaxpayers face a critical March 31, 2026 deadline for numerous income tax and GST filings. Missing these dates can lead to lost benefits an...
New changes implemented by GSTN for Table 3.2 of GSTR-3B and GSTR-1, GSTR-1A from April 2025 tax periodGST: Goods and Services Tax (GST) registered buyers and sellers need to be aware of these changes made in GSTR-3B and GSTR-1/1A return from...
This change in GST annual return if not checked properly can result in input tax credit mismatchGoods and services tax: GST annual form GSTR-9 has a significant change which if not properly checked can result in input tax credit mismat...
GST return filing process: Hard-locking of auto-populated values in GSTR-3B Form; check detailsGST return filing process: GSTR-3B is a condensed summary return, and its intention is for taxpayers to report their summarized GST obligat...
CBIC considering extending date for filing GSTR 3B due to technical glitchGSTR-3B is a self-declared summary GST return filed every month Taxpayers need to report the summary figures of sales, Input Tax Credit cla...
Notices on mismatch between GSTR 2A & GSTR 3B: How to defend such cases?The mechanism for matching of input tax credit as per GST law is designed to be carried out by combined filing of Forms GSTR-1, GSTR-2 and ...
Upcoming changes in GSTN and its impact on the present GST return filing systemWith a view to remedy the hardships faced by the taxpayers, the Government announced certain steps that are proposed to be taken to improve...
Cash flow to be further impacted as GST Council lowers eligible credit under ITC to 10%The change has led to another set of compliance on a monthly basis i.e. check GSTR 2A if the credit claimed doesn’t exceed GSTR 2A by 10% a...
GST: Key changes and simplifications of GSTR-9 & GSTR-9C for taxpayersThe government also is anticipating that with these changes and the due date extension, all taxpayers would comfortably be able to file the...
New proposal to claim GST input credit may have significant impact on cash flowThis means going forward, it will be mandatory for the buyers to match the ITC claimed with the details uploaded by the vendors.
GST: Why businesses must prepare GSTR-9 without any delaySome businesses are yet to draw reconciliations, between GSTR-1, GSTR-2A and GSTR-3B. Too many changes in the process of filing have kept s...
Finance Ministry allows businesses to claim GST input credit benefit for FY'18 till Mar 2019Tax experts said that ITC claims were allowed to businesses earlier provided businesses had generated invoice, paid taxes and filed returns.
Key points for first ever filing of GST Annual returnsThe government has introduced different types of annual return keeping in mind the various categories of taxpayers.
Keeping it simple: Reconciliation of GST data in 5 stepsThe reconciliation process ensures that no sales or purchases are omitted or wrongly reported in the GST returns.
Last chance to claim GST Credits for previous fiscal: All you need to do within this monthReturn to be filed for September happens to be the last return to take all credits pertaining the previous financial year. So what are the ...
Not so simple: Annual GST return seeks additional details from taxpayersGST Law mandates all taxpayers, except casual taxable person or non-resident taxable person, input service distributor, person liable to de...
Finance Ministry simplifies GST refund claim process for businessesGSTR-2A is a purchase return auto-generated by the system based on the transaction between a business and its supplier.