From April 1, 2025, ISD registration is mandatory for businesses distributing input tax credit on services across multiple offices under the same PAN.
Ensure GST compliance and smooth transition to FY 2025-26 with key year-end activities, including ITC reconciliation, outward supplies, RCM, and other GST obligations.
Starting November 1, 2024, self-invoicing is mandatory for RCM transactions. Delays in issuance may lead to loss of ITC and penalties under the CGST Act.
Explore the new Invoice Management System (IMS) on GST Portal, launched on 1st October 2024, for managing invoice corrections and amendments with suppliers.
From Oct 2024, 2% TDS on metal scrap transactions exceeding ₹2.5 lakh under GST. Registration and return filing requirements introduced for recipients.
GST update: Last chance to correct ITC reversal opening balance for FY 2023-24. Report adjustments by October 31, 2024. Learn about the deadline and process.
New RCM Liability/ITC statement on GST Portal from August 2024 helps track reverse charge liabilities and ITC claims. Learn the process and key deadlines for filing.
New Invoice Management System on GST portal from 1st Oct 2024 helps manage invoice corrections with vendors. Only accepted invoices will reflect in GSTR-2B.
Explore the latest enhancement in GSTR 1 with dedicated tabs for reporting electronic e-commerce portal sales. Learn the intricacies of Tables 14 and 15, facilitating seamless and accurate reporting for taxpayers.
CBIC vide Circular No. 161/17/2021-GST dated 20th Sep, 2021, clarifies doubts on whether the supply of service by a subsidiary/ sister concern/ group concern, etc. of a foreign company in India, which is incorporated under the laws in India, to the foreign company incorporated under laws of a country outside India, will hit by condition […]
