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Ca Nitika

Latest Posts by Ca Nitika

New RCM Time of Supply Rules Effective from 1st November 2024

November 2, 2024 20250 Views 3 comments Print

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.

Updated Detailed Analysis of Invoice Management System (IMS)

October 23, 2024 1911 Views 0 comment Print

Explore the new Invoice Management System (IMS) on GST Portal, launched on 1st October 2024, for managing invoice corrections and amendments with suppliers.

TDS on Metal Scrap under GST from October 2024

October 23, 2024 28851 Views 0 comment Print

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: Re-opening of Reporting ITC Reversal Opening Balance

September 18, 2024 2937 Views 0 comment Print

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.

RCM Liability/ITC Statement introduced on GST Portal

September 17, 2024 8442 Views 0 comment Print

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.

A New Invoice Management Functionality on GST Portal wef 1st October 2024

September 14, 2024 22827 Views 6 comments Print

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.

New Tab in GSTR 1 For Reporting of Sales Through E-Commerce Portal

January 11, 2024 19053 Views 0 comment Print

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.

Clarification of merely an establishment of a distinct person under GST

September 21, 2021 24162 Views 1 comment Print

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 […]

5 GST Compliance Action Point before Year Ending 31.03.2021

March 30, 2021 5196 Views 0 comment Print

As the Financial Year is ending, below five actions are need to be taken on immediate basis for compliance under GST:- 1. New Invoice series Ensure to create new/ unique invoice series. The same should be consecutive and unique for a financial year. Also, multiple invoice series for various branches/segments/Products & Services can be generated […]

Further clarification on extended GST return filing due dates

April 16, 2020 2910 Views 1 comment Print

Further clarification on extended date as per Circular No.136/06/2020-GST, dated 03.04.2020 Circular No.136/06/2020-GST, dated 03.04.2020 had been issued to clarify doubts regarding relief measures taken by the Government for facilitating taxpayers in meeting the compliance requirements under various provisions of the Central Goods and Services Tax Act, 2017. Although some issues were doubtful which has […]

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