GSTR 4 Guide : Return for Composition Taxpayers

By | June 15th, 2017|Categories: GST, GST Law, GST News, GST Return Filing|

What is GSTR 4? The GSTR 4 is a return under GST that needs to be filed once every 3 months by registered tax payers who have signed up for the composition scheme (those who opt for this scheme are known as compounding vendors). They would be required to pay taxes at fixed rate without any input tax [...]

GSTR 5 : Return filing for Non-Resident Foreign Taxpayers

By | June 15th, 2017|Categories: GST, GST Law, GST Return Filing|

Introduction Non-Resident foreign taxpayers (special cases under GST Registration) are those suppliers who have come for a short period to make supplies in India without having any business establishments here. Products are normally imported to make local supplies. Therefore, they will be allowed to avail Input Tax Credit only on IGST paid on imports. However, other taxpayers [...]

Taxpayers can file returns on Third Party Interface

By | June 15th, 2017|Categories: GST, GST News, GST Return Filing|

Introduction Moving a step forward towards the actual implementation of the Goods and Service Tax regime, GST Network,  the company which is entrusted to create the logistical &  IT backbone for the new text regime, tax payers allowed the option of third party interface GST or Goods and Service Tax is that tax, which will be [...]

How to submit your GST return through Facilitation Centre (FC)?

By | June 15th, 2017|Categories: GST Law, GST Return Filing|

Introduction The Facilitation Centre (FC) shall be responsible for the digitization and/or uploading of the forms and documents including summary sheet duly signed by the Authorized Signatory and given to it by the taxable person. After uploading the data on common portal using the ID and Password of FC, a printout of acknowledgment will be taken [...]

What is SGST (State Goods and Services Tax)?

By | June 14th, 2017|Categories: GST, GST Impact, GST Law, GST News, GST Return Filing|

Meaning of SGST On this blog we have already talked about GST - Introduction and Working and this article is based on State Goods and Services Tax, which is one of the 3 categories under Goods and Services Tax (CGST, IGST and SGST) with a concept of one nation one tax. It falls under the State Goods and Services Tax Act, 2017. It is [...]

GSTR 2 Guide : Return formats, Filing process, Due dates

By | June 14th, 2017|Categories: GST, GST Law, GST News, GST Return Filing, Videos|

What is GSTR 2?   According to GST law, every registered taxable person is require to submit “Return for Inward Supplies” in GSTR 2. The entries in GSTR 2 shall be mentioned by the buyer from 12th to 15th of the succeeding month. Adjustments, if any, is allowed to the seller in GSTR 1A on the 16th and [...]

Who are tax return preparers(TRPs)? How can you file your GST return through TRPs?

By | June 14th, 2017|Categories: GST, GST Law, GST Return Filing|

Introduction The tax structure in India is pretty complicated and cumbersome. A small trader may not be equipped with all the necessary resources and expertise to comply with all the law related requirements. Tax Return Preparers Scheme seeks to assist small and marginal taxpayers in preparing and filing their tax returns by creating a multitude of ‘Tax [...]

GST Electronic Ledger: Cash ledger, ITC & Tax liability ledger

By | June 14th, 2017|Categories: GST, GST Law, GST Return Filing, Videos|

Introduction Under GST, taxpayers will not have to maintain ledgers manually. Instead GST electronic ledger will be maintained on the dashboard of the taxpayer by GSTN. In this article, we will talk about different types of GST electronic ledger such as Cash ledger, Input [...]

What is IGST (Integrated Goods and Services Tax)?

By | June 14th, 2017|Categories: GST, GST Impact, GST Law, GST News, GST Return Filing|

Meaning of IGST IGST refers to the Integrated Goods and Services Tax which is a part of GST under the concept of one nation one tax. It is one of the 3 types of taxes and is under the Integrated Goods and Services Tax Act, 2017. It is charged on the goods and services supplied from one state to another. Features [...]

Different types of GST Assessment

By | June 14th, 2017|Categories: GST, GST Law, GST Return Filing, Videos|

Introduction Assessment is the process of determination of the tax liability of a taxpayer. There are different ways to determine tax liability under the GST law. GST Assessment is required to be done to establish the tax liability of an assessee. Taxation Laws lay down [...]