A business is required to register under the goods and services tax (GST) even if it qualifies to be exempted according to the GST Act, but has liability to collect tax under the reverse charge ...

GSTN will soon enforce system-level blocking if ITC reclaimed or RCM ITC exceeds ledger balances. Key takeaway: taxpayers must reconcile ledgers to avoid filing ...

The impoters have welcomed the latest Supreme Court orders by which the goods and services tax (GST) is not payable on sea import freight service on reverse charge mechanism (RCM) basis in case of ...

The reconciliation of the tax liability as per the books of account vis-à-vis the GST returns is a tedious exercise for filing of annual return and GST audit. While undertaking the exercise of ...

New Delhi, Jul 8 (PTI) The Sushil Modi led ministerial panel will recommend to the GST Council to defer by a year the proposal to incentivise digital payments under GST, citing revenue implications of ...

Filing accurate GST returns is important to maintain compliance with tax regulations, avoid penalties, and establish credibility with tax authorities. Let's discuss some common errors that are made by ...

The Sushil Modi led ministerial panel will recommend to the GST Council to defer by a year the proposal to incentivise digital payments under GST, citing revenue implications of doling out ...

Amit Gupta is MD, SAG Infotech. Accurate filing of Goods and Service Tax (GST) returns is crucial to avoid unnecessary reconciliation and ensure compliance. Familiarizing oneself with the common ...