In the labyrinth of modern taxation systems, GST (Goods and Services Tax) stands out as a pivotal point of discussion and debate. Introduced to streamline the tax structure, GST has significantly impacted businesses, consumers, and the economy at large. Let’s delve into its nuances, dissecting its meaning, structure, and the latest changes that have shaped […]
Navigating the Transition: Challenges and Concerns in the Shift to GST As the business world continues to adapt to the complexities of taxation, one topic that remains at the forefront is the transition from the earlier systems of Service Tax and VAT to the present Goods and Services Tax (GST). In this blog, we’ll explore […]
GST – is now entering the fifth financial year, went through a lot of hurdles, changes, faced economic recession, COVID threat, nearly hated by all stakeholders, stood resolute and determined. Our KEY takeaway thus far from GST with respect to ACCOUNTANTS & our trade: • One should no longer delay filing of GSTR 3b by […]
GST is a simple process where the rates have to be referred as specified in the Goods and Services Act and on the basic rate charged, GST will be applicable. However, discount can be deducted from the price and then the chargeable basic will have GST audit. At present, GST percentages are 0%, 0.25%, 3%, […]
GSTR return filing is mandatory for all GST registered dealers. Every registered dealer has to log into GST portal and file his return. There are many types of returns and they are listed below. · Regular · Composite · Quarterly. A dealer should file returns as appropriate. DUE DATE OF FILING – GSTR1 is applicable for all regular […]