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Service Tax Internal Audit CENVAT Companies Act LLP Basic concept GST GST Registration GST Returns GST Rates Income Tax Salary Income Housing property Business Income Presumptive Income Capital Gain Other Income TDS Return Case Laws Partnership Firm Accounting Definitions Accounting Standards CA Notes IPCC Notes CA Final Notes Rankholder's Interview Management TopCA's Interview

  • Note on How to pass accounting entries under GST

    Goods and service tax or GST subsumed most of the indirect taxes. It has brought us to the “One nation one tax” regime. Accounting under GST is more simple compared to the erstwhile VAT and excise.

    However, one must understand and pass accounting entries in the books of

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  • Handbook on GSTR-7- Meaning, Eligibility, Due date & Format

    What is GSTR-7?
    GSTR-7 is a monthly return form filed by all taxable persons who are required to deduct TDS (Tax Deducted at Source)under GST ie, the deductor needs to file this GSTR-7.

    GSTR 7 should incorporate the following details:

    Deducted TDS
    TDS liability payable / paid
    TDS refund claimed if any
    Interest, late fees etc payable / paid.
    The deductor deducts TDS at

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  • A Guide to GSTR 6A

    What is GSTR 6A?

    GSTR 6A is an auto-generated read-only summary for an Input Service Distributor (ISD) to view all inward supplies details from the supplier.

    GSTR-6A

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  • A Guide to GSTR 2A- GSTR 2 Vs GSTR 2A

    The extension of due dates to file GSTR-1, GSTR-2 and GSTR-3 of July 2017 is a welcome move, as it provides an additional time for businesses to prepare the accurate returns for better compliance.. Now, the businesses are required to file GSTR-1 by 10th October, 2017, GSTR-2 by 31st October, 2017 and GSTR-3 by 10th November, 2017. To know more on the revised due

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  • All About GSTR 1- Purpose Of Filing GSTR 1, GSTR 2 & GSTR 3

    What is GSTR 1?
    GSTR 1

    A Complete Guide on GST ITC 01

    What is GST ITC-01?
    Registered person who is entitled to claim credit of input tax under section 18 (1) is required to file a declaration in Form ‘GST ITC-01’. The credit may be availed for inputs held in stock, inputs contained in semi-finished or finished

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  • Handbook on GST ITC-02

    What is ITC-02 and who must file it?
    In case of transfer of business by way of sale of business, merger or demerger, a registered taxpayer can transfer the input tax credit unutilised and available in his electronic credit ledger into another business by filing

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  • Note on Electronic Credit Ledger Under GST

    Goods and Services Tax, allows taxpayer to maintain electronic ledgers on the GST portal. Taxpayer pays income tax form these electronic ledgers. Whenever a taxpayer undertakes an activity related to these electronic ledgers, the concerned ledger then gets updated in real-time. The details in the electronic ledgers get auto-populated from previous returns that were

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  • FAQs On GST Payment & Refund Status

    How to track GST payment status online?

    Step 1

    Go to the GST Portal. To track payment you don’t have to login.

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  • Handbook on E-Invoicing

    The CBIC has notified the latest e-invoice schema on 30th July 2020. The e-invoicing system is slated to be implemented from 1st October 2020. It will apply for for large taxpayers with an annual turnover of more than Rs 500 crore in FY 2019-20. E-invoice does not mean the generation of invoices from a central portal of the tax department. It is because such

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  • Details on Use of Cash/ITC For Payment Under GST Demand

    Manual on Utilizing Cash/ ITC for Payment of Demand

    How can I make payment towards outstanding demand appearing in Electronic Liability Register (Part-II) at the GST portal?

    Handbook on Filling PMT-09 on GST Portal

    The Central Board of Indirect Tax and Customs (CBIC) recently introduced the PMT 09 form with a view to facilitate the transfer of cash from one head to another head of the electronic cash ledger. Using this form, taxpayers will be able to transfer any amount of tax, interest, penalty or cess accumulated in their electronic cash ledger under the heads of IGST, SGST

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  • All About Matching, Reversal and Reclaim of ITC

    Will Recipients Be Obliged to Reverse ITC In Case Suppliers Do Not Pay their taxes:

    Critical Provisions for Denial of ITC Mismatch

    The following are the provisions for conditions for

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  • All About Taxation Of Cryptocurrencies In India

    What is Cryptocurrency?

    Cryptocurrency is a Digital currency that can be exchanged online for goods and services,but uses an online ledger with strong cryptography to secure online transactions.

    All About GST applicability on Inter Corporate Guarantees

    Personal and Corporate guarantees explained

    Banks have long since developed an unwritten convention of obtaining personal/corporate guarantees from the Directors of the Corporations and the holding/subsidiary companies between one another, to secure the Loans advanced by them

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  • Handbook on GST CMP-08

    The GST Council made third amendment to the CGST Rules by inserting a provision in rule 62 with regards to filing return by a composition dealer.
    The revised rule states that every composition dealer must make payment of tax in form GST CMP-08 and file an annual return in form

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  • Handbook on Filing NIL form GSTR-3B By SMS

    What is Nil GSTR-3B?
    A Nil GSTR-3B is filed when there are no details of supplies to be declared. There is no tax payable since there are no outward supplies made or inward supplies to claim Input Tax Credit (ITC). Following is a simple checklist you can follow

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  • Handbook on GSTR 10

    What is GSTR-10?
    A taxable person whose GST registration is cancelled or surrendered has to file a return in the form of GSTR-10. This return is called as final return.

    All About Suo Moto Cancellation of GST Registration

    Meaning of the term “Suo Moto”:

    The term “Suo Moto” is a Latin legal term which literally means “on its own motion”. It implies that an action was taken by a group or persons on their own. Hence, when a government entity or a court takes up a matter suo moto, it is taking up the matter “on its own motion” meaning of its own accord or on its own initiative.

    Suo Moto cancellation of GST

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  • Details on Filing Amendments in Core and Non-Core Fields under GST registration

    At the time of GST Registration, a Registration Certificate is issued by the GST department in the name of the business, based on the information provided by you. But, you may need to change any of the information provided earlier. You may need to change the details because of several reasons like some incorrect information provided at the time of registration,

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