GST Department to share GST data with Income Tax Department

On October 10, 2020

In the month of July 2020, the CBDT and CBIC have entered into an MOU where CBIC will share the GSTR-2A data with the Income Tax Department. This is not a new thing in the tax regulatory system in India. In the time of service tax and excise duty, the Income Tax Department used to share the […]

How quarterly filing of GST Returns will impact MSMEs?

On October 9, 2020

The GST council in its 42nd meeting has proposed for quarterly filing of GSTR-3B and GSTR-1 for taxpayers with turnover up to Rs. Rs. 5 crores. Many are looking at this as a welcome step towards ease of compliance in GST. No doubt that this step certainly is a welcome step for easing the compliance […]

Why GSTR 2A is equal to form 26AS

On September 5, 2020

GSTR-2A is one of the most important innovations to track transactions of the taxpayers by the government. Recently the government has introduced 26AS in a new avatar. 26AS is now not only a tool to monitor your TDS but also an information tool for the government. You must have experienced how Income Tax and GST […]

All About Types of GST Returns

On April 24, 2020

In the last article, we learnt about what is GST return, the due dates of filing, late fee protocols along with the brief introduction of the types of returns. In this article we will learn about the various types of GST returns elaboratively. So, let’s get started and go at length with types of GST […]

Critical Role of CFOs and Tax Heads in claiming GST Input Tax Credit (ITC)

On March 17, 2020

The department of Revenue is monitoring the GST data meticulously with the help of data analytics and extensive use of technology. To detect and curb Input Tax Credit (ITC), authorities are keeping a constant eye on the returns filed by the business organisation. Tax Department is also using artificial intelligence for timely compliances. To have […]

How GST department is monitoring your Tax Credit Claim?

On March 5, 2020

In this GST era, the input tax credit mechanism is such a powerful tool which is utilized by the government to keep watch on all kinds of transactions among the business concerns. You must be thinking, how is this even possible because the money passes through so many direct-indirect channels so its quite tedious task […]

Difference between auto-populated data of GSTR-2A shown in GST Login: A Case Study

On February 4, 2020

GST is changing every day and to make it more simple new changes are being introduced to make it more viable and feasible. Let’s have a look at why there is a difference between auto-populated data of GSTR-2A shown in GST login through a case study to make it more easy to understand. Nowadays, the […]

New Changes in New Year Under GST

On January 10, 2020

The New Year isn’t only meant for philosophical, physical and emotional resolutions but also demands new financial resolutions to relieve the stress on your pocket. To help you plan this, we bring you the new changes done under the GST. Be a good taxpayer and consider these changes to plan 2020 financially. Here are the […]

Brief Introduction: What is GSTR 2A?

On December 28, 2019

GST has been keeping people on toes since its implementation. One needs to learn a lot in order to file tax returns and that too monthly. It sure does sound very complicated but if one starts understanding the basics, there is not an easier thing other than this. Let’s start with the basic GSTR 2A […]

38th GST Council Meeting Highlights

On December 20, 2019

Since the implementation of GST, every day there are new additions or changes in the process so that it can be simplified further. To add to this list, the GST council recommended few more changes in its 38th GST Council Meeting. The meeting was headed by Union Minister for Finance & Corporate Affairs Smt. Nirmala […]