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GST Return Filing Guide for Tax Consultants

This guide is written for GST Tax Consultants (GST Tax Practitioners). If you are a business owner, you might still find it interesting to read further and forward this to your tax consultant. Topics Covered Introduction Details Required at invoice level Types of clients What are…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

245,460 total views, 69 views today

GSTR-1 Filing using Tally.ERP 9 Release 6

As per the 23rd GST Council Meeting, taxpayers are divided into two categories based on their aggregate annual turnover and accordingly dates for GSTR-1 filing have been issued. Taxpayers with an annual aggregate turnover of up to Rs 1.5 Crores have to file GSTR-1 on…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

255,254 total views, 27 views today

Structure of your GSTIN

Most of you would have received your 15 digit provisional ID or GSTIN (Goods and Services Tax Identification Number). Under GST, knowing your GSTIN format like the back of your hand is important. It will help you to ensure that your suppliers have quoted your…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

129,225 total views, 31 views today

Works Contract under GST

What is works contract? Works contract, by definition, is an agreement to carry out for cash, deferred payment, or other valuable consideration – building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property. Typically, it…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

157,018 total views, 35 views today

What is GST Cess and Why is it Levied?

Under GST, in addition to tax on supply (which are CGST + SGST/UTGST on intrastate supplies and IGST on interstate supplies), a GST Cess is to be levied on supply of certain goods. Are you GST ready yet? Get ready for GST with Tally.ERP 9 Release…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

197,467 total views, 27 views today

Did You Know Advance Received is Taxable under GST?

This article has been updated with the GST Council’s decision that suppliers of goods need not pay tax on advance received with effect from 15th November, ’17. Receiving advance for an order is a common business occurrence. Suppliers usually ask customers to pay advance for…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

192,324 total views, 41 views today

How to Claim Input Tax Credit on Business Expenses

The input tax credit provisions under GST are framed with a border perspective to allow the tax credit on all the inward supplies. Now, businesses can claim input tax credit on all the inputs or input services which are “used or intended to be used…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

217,699 total views, 57 views today

GST on Free Samples, Supplies and Buy One Get One Free Offers

Festival season is around the corner, sales promotional offers will be a common sight in the market place. More often, promotional schemes are used as effective sales strategy to attract the customer to buy their product.  Among the various promotional offers, Buy One-Get One Free,…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

115,112 total views, 45 views today

Your Checklist for Claiming Input Tax Credit (Downloadable)

Input tax credit is a critical component of compliance under GST. While input tax credit is available on all inputs used in the course of business or for furtherance of business, certain conditions have been laid down for claiming the input credit. Also, input tax…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

198,906 total views, 45 views today