Goods and Services Tax

GST Simplified for your Business

1
How to File GST TRAN-1: Part 6
2
How to File GST TRAN-1: Part 5
3
The Best Way to File GSTR1 Returns
4
GST E-way Bill Format
5
Services on which E-commerce Operator has to Pay Tax
6
Interest on Late Tax Payment under GST
7
Why it’s Time to Buy a Computer for Your Small Business
8
Step-by-Step New GST Registration Guide – Part IV
9
Recommendations Made by the GST Council
10
Match GSTR-3B with GSTR-1, GSTR-2 and GSTR-3

How to File GST TRAN-1: Part 6

In our series of blog posts on “How to File Form GST TRAN-1”, we have discussed about  various business scenarios in Part-1 to Part-5. In this blog, we shall discuss about the following: :

  • Applicability of Table 8 of Form GST TRAN-1
  • How to fill Table 8 of Form GST TRAN-1

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How to File GST TRAN-1: Part 5

In our series of blog articles on “How to file Form GST TRAN-1”, we discussed the applicability and section-wise details of Table 5, 6, 7(A) and 7(B) of Form GST TRAN-1. In this article, we will discuss about:

  • Applicability of Table 7(C) and 7(D) of Form GST TRAN-1
  • How to file Table 7(C) and 7(D) of Form GST TRAN-1

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The Best Way to File GSTR1 Returns

Introduction

The GST filing period has begun!

“How do I and my tax consultant file GST returns for my business?” – is the one question that is likely to linger on top in your head, among others. This blog suggests the best method for filing returns accurately.

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Interest on Late Tax Payment under GST

Under GST, interest is liable to be paid when there is a delay in payment. Provisions have been made for interest to be paid, when there is a lapse by the tax payer as well as by the Department. In this blog, let us understand the scenarios where interest is applicable.

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Why it’s Time to Buy a Computer for Your Small Business

Last updated on September 18th, 2017 at 01:16 pm

Over the past two decades, India has pushed hard to become a cashless society. We have taken significant strides to become financially inclusive – for instance Digital India, the Unified Payments Interface etc. The payments sector in India is evolving fast, mostly being driven by various initiatives by the Govt. of India to push for digital payments – the Prime Minister’s Jan Dhan Yojna, Aadhar & Mobile Connectivity – smartly abbreviated as JAM, being the key drivers. The results are obviously showing – the PM’s Jan Dhan Yojna saw a whopping 22.31 crore accounts being opened with almost 38 crore in float balance. Almost 11% of urban households, and even 0.43% of rural households make cashless payments today. Mobile payments have grown from USD 88 million in 2011 to USD 1.15 billion in 2016, a compound annual growth rate of 68%. However, the real push, arguably came on the 8th of Nov, 2016 – when the government took a drastic step to wipe out black money corruption across the country by banning INR 1000 and INR 500 notes. Not to forget the introduction of GST on the 1st of July this year, which is bound to take business compliance to a new level. Read More

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Step-by-Step New GST Registration Guide – Part IV

Introduction

In our previous blog, we guided you through the remaining 6 pages of Part B of the New Registration form, GS REG-01. You now need to complete the verification process and submit the form. Once the form is submitted, you must keep track of your application status. If all the documents submitted by you are correct, you will successfully complete your new GST registration process and get your business registered quickly!

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Recommendations Made by the GST Council

Last updated on September 20th, 2017 at 12:36 pm

The 21st GST Council meeting held at Hyderabad on 9th September 2017, discussed some of the crucial issues such as difficulties faced by the businesses in filing the return, increase on Cess on cars, proposals received from various trade associations to lower the rate of GST on certain products and so on. To facilitate the businesses in meeting the compliance standards, the following are key changes recommended by the GST Council Meeting.

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Match GSTR-3B with GSTR-1, GSTR-2 and GSTR-3

With the completion of the filing of GSTR-3B returns last month, businesses are now preparing in full swing to file their GSTR-1 returns.

The recent decision by the GST Implementation Committee to extend the due dates for filing GSTR-1, GSTR-2 and GSTR-3 for the month of July, offers a much needed relief to the businesses. You will get additional time to prepare accurate returns. The revised dates are as follows.

Returns period GSTR-1 GSTR-2 GSTR-3
July,2017  10th October,2017 31st October,2017 10th November,2017

*Due Dates for filing above mentioned returns for subsequent periods shall be notified at a later date.

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