Input tax credits – GST Vs CENVAT credit In terms of Input tax credits rules, a manufacturer of excisable goods or provider of taxable services including exporter was eligible for taking the credit of excise duty paid on inputs or capital goods in addition to the credit of service tax paid on input services. However, […]
Category Archives: Goods and services Tax
Master your business financials with our definitive guides, updates, and compliance resources on the Goods and Services Tax (GST). Navigating modern taxation can be challenging, but our clear breakdowns help business owners, freelancers, and accounting professionals stay ahead of regulatory changes while optimizing their tax positions.
Why GST Compliance Matters
Understanding GST is critical for legal compliance, seamless input tax credit processing, and avoiding costly penalties. Staying informed ensures your pricing strategies remain competitive and your cash flow stays healthy in a fast-evolving regulatory landscape.
What You Will Find Here
- Compliance & Filing: Step-by-step navigation for monthly, quarterly, and annual tax returns.
- Input Tax Credit (ITC): Strategies to maximize claims and recover tax paid on business inputs.
- Regulatory Updates: Real-time analysis of changing rate slabs, legal amendments, and notifications.
- Invoicing & E-Way Bills: Practical templates and workflows for generating flawless, compliant documentation.
how to file GST returns, input tax credit rules, GST rate slab updates, tax planning and invoicing.Government Construction Contracts under GST 1. The standard rate of tax for composite supply of Construction Contracts under GST and also construction services is 9% CGST + 9% SGST and 18% IGST
Steps to download and Fill Worksheets GSTR 4 Offline Tool Step by step guideline for taxpayers to fill worksheets using GSTR 4 Offline Tool 1) Enter the relevant details in each worksheet of the downloaded excel file as applicable (except Inward stipples from registered taxpayers, and amendment tables).
Form GSTR-2 – Taxpayers,check the details of purchases All the taxpayers are going to furnish the Form GSTR–2 for July month. So what is exactly Form GSTR–2? Form GSTR-2 is the details of inward supplies of goods or services which is to be furnished by registered taxpayer on a monthly basis. The GSTR-2 would be […]
GST ON SOCIETY CHARGES GST Update on “society charges” collected by builder:- A builder is supposed to collect an amount for repairs and maintenance of flats. This collection is being kept in a separate account dedicated for the purpose. Until the residential housing society is formed, the expenses for repairs and maintenance of flats are […]