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April 12th, 2019 in GST, GST Return

New Normal GST Return Form (RET-1): Format and Filing Procedure

Lately, GST Council announced that there will be New GST Return Forms that will be applicable from 1st July 2019. These New GST Return Forms includes Normal (RET-1), Sahaj and Sugam. Moreover, to give a fair idea about these new GST Return forms they are now available on the GSTN. In this article, we will…

April 12th, 2019 in Finance & Accounts, GST

Maintenance of Accounts and Records under GST

All accounts and records should be compulsorily and accurately maintained by every taxpayer registered under the Goods and Services Tax (GST) Law. These records should be maintained by the taxpayers at their principal place of business. Therefore, it is binding to know the details related to the maintenance of records and accounts under GST.  …

April 12th, 2019 in GST

2019 Revised GST Rates

GST Rates and HSN codes were revised in 31st GST Council Meeting which was held on 22 December 2018. As per the recommendation of GST Council, GST Rates of 23 Goods and 3 Services have been revised. Table Content Revised GST Rates Others Goods Recommended for Exemption Services Recommended for Exemption   Revised GST Rates…

April 9th, 2019 in GST

GST Notices – What is Notice & Types of Notices

Under the Goods and Services Tax (GST), the authorities communicate to the taxpayers via GST notices. There are various reasons for the issuance of the different types of notices, which every taxpayer should know. This article discusses these reasons and types of GST notices along with the manner in which one may respond upon receiving…

Updated on April 8th, 2019 in GST, GST Reconciliation

Reconciliation Between GSTR 3B and GSTR 1: Importance, Reasons and Actions

Reconciliation between GSTR 3B and GSTR 1 is a very important step as it helps you to reconcile the mismatches between them. However, not performing reconciliation between GSTR 3B and GSTR 1 can result in show cause notice from the GST authorities. Moreover, you may not be able to file accurate Annual GST Return due…