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  • What is GSTR 9C?
    GSTR 9C is a statement that reconciles the figures filed in GSTR 9 Annual return vis-à-vis figures mentioned in audited annual financial statements.

    It has to be submitted by every registered person, who is required to get his accounts audited under the GST act. GSTR 9C has to be filed electronically through the portal either directly or through a facilitation

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  • GST Reconciliation and Matching are not new to any taxpayer. This has been prevalent in earlier VAT and excise regime too. Then, the matching of data between the books of accounts and tax returns was an easy task for many business organisations. If the tax department on processing returns found some discrepancy, communications would be sent to the taxpayer and accordingly further scrutiny and audits would be carried out by the

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  • India is the largest producer for generics and the country’s Pharmaceutical Industry is currently the 3rd largest in the world in terms of volume and ranks 14th in terms of value. As the population continues to grow, the need for better Healthcare Services is also growing. Currently, 5 percent of the country’s GDP is expended on the Healthcare sector. The healthcare sector is expected to touch $150 bn by end of 2017, from $80 bn in

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  • Loss from exempted source of income cannot be adjusted against taxable income If income from a particular source is exempt from tax, then loss from such source cannot be set off against any other income which is chargeable to tax. E.g., Agricultural income is exempt from tax, hence, if the taxpayer incurs loss from agricultural activity, then such loss cannot be adjusted against any other taxable income.

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  • A. Due dates for Compliances under GST
    > 31st Dec 2018 – GSTR-9 – The Most Comprehensive Annual Return / Statement for FY 2018-19 by ALL registered persons.

    > 31st Dec 2018 – For Composition Tax Payer in Form GSTR-9A

    > 31st Dec 2018 – GSTR-9C – The Most Comprehensive Annual Return for FY 2018-19 by registered person whose Annual Turnover for Financial

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