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GSTR1 RECONCILIATION
GST@9: Building a more seamless, certainty-driven input tax credit frameworkA more balanced and predictable approach can help safeguard revenue, reduce disputes, enhance taxpayer confidence, and create a more effici...- GSTN launches offline Excel-based utility to boost Invoice Management System for greater accuracy in ITC claims; Here’s how it can helpGSTN has launched a new offline Excel utility for its Invoice Management System (IMS), aiming to boost accuracy in Input Tax Credit (ITC) c...
- Extension of deadline for GST annual return is needed because of many changes, says Bombay Chartered Accountant SocietyIn light of recent modifications to the GSTR-9 and GSTR-9C forms, chartered accountants are advocating for a three-month extension on the s...
- GST annual return using form GSTR-9 has been enabled for filing for FY 2024-25 on the GST portalThe GST portal has enabled filing of the GSTR-9 annual return and GSTR-9C reconciliation statement for FY 2024-25, with a deadline of Decem...
- GST late fee waiver: Last opportunity to avoid GST notice due to non-filing of GSTR-9C, do this nowGoods and Service Tax (GST): The government has announced waiver of late fees for filing GSTR-9C for FY 2017-18, FY 2018-19, FY 2019-20, FY...
- GST annual return deadline is December 31: Why should you file it even if not liable to file oneGST annual return: The deadline to file GST annual return is December 31, 2024. There is a good argument as to why you should file GST annu...
- 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...
- About 92% of large taxpayers filed annual returns for 2017-18: GSTNWith Goods and services tax launches on July 1, 2017, this is the first time when businesses registered under GST have to file annual retur...
- 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 Annual Return filing date extended. This is what taxpayers need to do nextTaxpayers should not procrastinate and use the additional three months to ensure issues are sorted and compliances are met with.
- Is the new GST return filing system really simple? Reconciliation holds the keyThe crucial aspect that taxpayers have missed is that reconciliation under the new GST returns system has a fresh approach, which calls for...
- Taxpayer with turnover over Rs 2 cr need GST audit certificate, will be arduous job for auditorsThe Government on Thursday through the notification No. 49/ 2018 - Central tax dated September 13, 2018 has notified the format for GSTR-9C.
- Businesses to declare mismatch in GST returns form, outward supplies in annual returns: Finance MinistryWhile form GSTR-1 is an account of details of outward supplies, GSTR-3B is where the summaries of all transactions are declared and payment...
- 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...
- 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 ...
- Taxpayers note. Follow this process to avoid mismatch notice for your GST returnBusinesses deposit GST to the government via submission of GSTR-3B. The credit claimed in this return is provisional and authorities accept...
- You don't even have 0.77999999999883585 per cent chance to escape GST scrutinyGST officers have started sending notices to companies whose payment did not match the final return, after an underpayment of nearly 34 per...
- The Rs 34,000 cr GST riddle: Why the differences in GSTR-3B and GSTR-1 should not alarm the GovernmentThe most surprising outcome has been the announcement that preliminary findings have revealed major data gaps exist between self-declared l...
- A simpler GST filing regime: Here are the proposed changesThe simplified GST filing system is expected to be approved by the Council in its next meeting. The changes were deliberated upon in its la...
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