Professional income tax filing, GST consulting, tax planning, and compliance services for individuals, NRIs, and businesses. Trusted CA firm for tax advisory.
GSTR‑2B Place of Supply (PoS) Mismatch & ITC Eligibility The issue of GSTR‑2B marking input tax credit as “ineligible” due to a place of supply mismatch has become one of the most frequent triggers during GST audits, departmental scrutiny, and internal reconciliations. While the GST portal follows a mechanical rule‑based flagging system, the law (Sections …
GST RETURNS FOR NIL/ZERO TURNOVER—AS PER CGST Act, 2017 Is a return mandatory if turnover is NIL under GST? YES – Filing of Return is Mandatory. Legal provision is given in Section 39(1) of the CGST Act, 2017. Every registered person shall, for each tax period, furnish a return, whether or not any supplies of …
Common Reasons for GST Notices, Sending & Compliance GST notices are official communications issued by GST authorities for reasons such as non-filing of returns, discrepancies, ITC mismatches, or other compliance issues. They require timely responses to avoid penalties or adverse actions. GST is based on self-assessment and self-certification, requiring taxpayers to comply proactively. Notices under …
All about the Latest GST Amendments for FY 2024–25 & FY 2025–26 GST is firmly moving towards real-time compliance, system-driven checks, and accountability. Businesses must shift from reactive filing to continuous compliance monitoring. The government has introduced far-reaching reforms in the GST framework for FY 2025–26, aimed at improving ease of doing business, tax governance, digital security, …
GSTR-9 Annual Return Not Required from FY 2024-25 Onwards- GST Relief for Small Taxpayers The CBIC has issued a big compliance relief for small taxpayers by exempting them from filing the annual GST return (GSTR-9). This exemption applies from the financial year 2024–25 onwards and aims to simplify compliance for businesses with relatively modest turnovers. The CBIC, …
GST IMS Introduction of Pending Option for CN & Declaration of Reversal AMT in IMS w.e.f. Oct 2025 : GSTN Background – Introduction of “Pending” Option The GSTN has introduced a new facility in the IMS on the GST portal, allowing taxpayers to mark Credit Notes as “Pending” for one tax period. Additionally, the IMS …
Key Changes in ITC Reporting for GSTR-9 & GSTR-9C for FY 2024–25 Changes in ITC Presentation in GSTR-9/9C for FY 2024-25 The revised GSTR-9/9C formats for FY 2024-25 have introduced structural and computational changes to ensure accurate demarcation of Input Tax Credit (ITC) pertaining to different financial years and eliminate artificial mismatches in reconciliation tables …
Bank Account Frozen in GST for Over 1 Year? Under the Goods and Services Tax law, the authorities have powers under Section 83 of the CGST Act, 2017 to provisionally attach the bank accounts of taxpayers to protect government revenue during ongoing proceedings. However, such provisional attachment is valid only for 1 year from the …
ITC Best Practices under Goods and Services Tax – Conditions, Documentation Eligibility, and Restrictions etc Input Tax Credit is one of the most significant features of India’s Goods and Services Tax framework. It allows registered taxpayers to reduce their tax liability by claiming credit for the GST paid on purchases or business-related expenses. But, …
Zero Rated Supply under GST Under the Goods and Services Tax (GST) law, a Zero Rated Supply refers to supplies on which GST is charged at 0%, but the supplier can still claim input tax credit for taxes paid on inputs and input services. This ensures that exports remain tax-free but without blocking the credit …