Learn about reduced late fee for filing GSTR-4, GSTR-9, and GSTR-10 for earlier periods between July 2017 and March 2019. Find out the conditions, reduced fee amounts, and the deadline for filing within April-June 2023.
Unlock the intricacies of Reverse Charge Mechanism (RCM) under GST in this comprehensive article. Delve into the legal aspects, key sections, and benefits of RCM, along with the consequences of non-payment. Understand registration criteria and considerations for RCM transactions, ensuring compliance with GST regulations. Explore a detailed list of goods and services subject to RCM, and grasp the benefits, consequences, and important considerations for businesses involved. Stay informed to navigate the complexities of RCM successfully.
Explore the E-Invoice era in India under the GST regime. Learn about the applicability, threshold limits, and footprints of the E-invoicing system. Discover the process of generating E-invoices, exemptions, QR code requirements, and consequences of non-compliance. Gain insights into the types of documents covered and the mandatory data embedded in the QR code. Stay informed about the cancellation process, penalties for non-compliance, and the significance of E-invoices for businesses with turnovers exceeding specified limits.
Dive into the intricacies of CGST Section 16: Eligibility, Conditions & Restrictions for Input Tax Credit (ITC) on goods and services. Learn about the criteria, time limits, and consequences of non-compliance. Explore the importance of valid invoices, restrictions on personal consumption, and the reversal of ITC. Stay informed to navigate the complexities and avoid penalties while optimizing your tax benefits.
From the combined reading of sections 2(62) and 2(63) we understand that tax paid in the form of CGST, SGST\UTGST, IGST for procurement of goods or services by a registered person including GST paid under RCM method for import and inward supplies will be called as Input Tax Credit.
Discover the essentials of E-Way Bill under GST Act 2017. Learn about the requirements, contents, and cancellation process. Understand the validity duration and extension possibilities.
Understand the nuances of Tax Invoices and Bills of Supply in GST. Learn who can issue them, when to issue, mandatory requirements, and key precautions to ensure compliance.
Learn about Annexure V, a declaration form for Goods Transport Agencies (GTA) to opt for paying GST under forward charge, impacting tax liabilities and compliance procedures.
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