Tag: input credit

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

79,112 total views, 430 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

80,213 total views, 875 views today

Beware! After GST, Choosing a Wrong Vendor can Kill your Business

With GST, there has been a fundamental shift in how your books are maintained. Till now in the entire tax regime, the only version of the truth was how you maintained your books. All your filings flowed from that. Are you GST ready yet? Get…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

62,300 total views, 754 views today

Impact of GST on Traders

On October 14th, 2016 the Confederation of All India Traders (CAIT) signed an MOU with Tally Solutions in order to train their member businesses – roughly 6 lakh traders all over the country, on the subject of GST. While the focus is largely to enable…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

162,053 total views, 2,990 views today

GST Migration – Demystifying the Closing Stock Dilemma

With only a few days to go for GST to be rolled out, one of the key points of interest for most businesses are the transition rules and provisions, especially pertaining to the closing stock being held on the transition date. This is super-critical for…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

21,828 total views, 47 views today

The Sin of Being Small: How GST Law will Affect you

Arguably the biggest indirect tax transformation will be upon us in a few weeks from now. The law makers are deliberating on the specific clauses and contours of it – so that the appropriate legislations can be passed. Are you GST ready yet? Get ready…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

45,452 total views, 73 views today

Scenarios where you cannot Avail Input Tax Credit

In our previous blog we learned about the conditions for availing GST input tax credit and the scenarios in which input tax credit (ITC) can be availed. In this blog, we will discuss the scenarios where you cannot avail Input Tax Credit. Are you GST…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

75,419 total views, 49 views today

Moving to GST: Can I Avail Input Credit on Closing Stock?

On the date of transitioning to GST, broadly there will be business who fall under any of the following categories: Businesses not liable to be registered under the current law, but are liable for registration under GST Business which are engaged in the manufacture or…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

242,259 total views, 351 views today

How to Set Off Input Tax Credit Against Tax Liability in the GST Regime

We introduced Input Tax Credit (ITC) in a previous post. Now let us understand how to set off your input credit against your tax liability in the GST regime. Are you GST ready yet? Get ready for GST with Tally.ERP 9 Release 6 Get a Free…

Are you GST ready yet?

Get ready for GST with Tally.ERP 9 Release 6

249,816 total views, 118 views today