#gstn

[suvitfintechprivatelimited]

E-invoicing, or electronic invoicing, is the digital exchange of invoices between businesses. It is a system in which B2B invoices are authenticated electronically by the Goods and Services Tax Network (GSTN) for further use on the common GST portal. E-invoicing has many benefits for both businesses and the government. For businesses, e-invoicing can reduce paperwork and manual processing, improve efficiency and accuracy, reduce costs, improve cash flow, and enhance transparency and compliance. 

[sifytech]

Government vs Tax fraud: The AI checkmate

Due to the use of Artificial Intelligence in the taxation system in India, it is becoming harder to commit tax fraud writes Satyen K. Bordoloi Read More. https://www.sify.com/ai-analytics/government-vs-tax-fraud-the-ai-checkmate/

[tallyerpsoftware-blog]

Effortlessly Manage Multi-State GST with Tally's Comprehensive Accounting Software

The Goods and Services Tax (GST) is an indirect tax that has been introduced in India to replace several taxes levied by the central and state governments. Tally is a popular accounting software that helps businesses manage their finances, and it has been updated to incorporate the GST. Tally Multi-State GST is a module within the software that helps businesses manage GST compliance across multiple states.k

Here's a closer look at Tally Multi-State GST and how it can benefit your business:

1)      Automatic Tax Calculation

Tally Multi-State GST automatically calculates taxes based on the GST rates applicable in each state. This ensures accurate tax calculation and helps avoid errors that could lead to penalties.

2)      Centralized Data Management

With Tally Multi-State GST, you can manage your business's financial data from a central location. This makes it easier to track transactions and ensure compliance with GST regulations.

3)      Integration with GST Portal

Tally Multi-State GST seamlessly integrates with the GST portal, making it easy to file GST returns and other compliance-related tasks. This saves time and reduces the risk of errors.

4)      Customizable Invoicing

Tally Multi-State GST allows businesses to create customized invoices that comply with GST regulations. This includes adding GSTIN, HSN codes, and other mandatory details.

5)      Multi-User Access

Tally Multi-State GST can be accessed by multiple users simultaneously. This enables businesses to collaborate on financial data and ensures that all users are working with the most up-to-date information.

6)      Reports and Analytics

Tally Multi-State GST generates reports and analytics that help businesses understand their financial performance and comply with GST regulations. This includes GSTR-1, GSTR-2A, and GSTR-3B reports.

7)      Multi-Lingual Support

Tally Multi-State GST supports multiple languages, making it accessible to businesses across India. This includes English, Hindi, Tamil, Telugu, Kannada, and more.

 Overall, Tally Multi-State GST is an excellent tool for businesses that operate in multiple states in India. It simplifies GST compliance, reduces the risk of errors, and saves time. With Tally Multi-State GST, businesses can focus on growing their operations while leaving the financial management to the software.

[babatax]

Direct Tax Collections up 24% for FY 2022-23 till 10th Feb

https://babatax.com/direct-tax-collections-up-24-for-fy-2022-23-till-10th-feb/

[clubdeals]

Importance of Digital Marketing

Importance  of digital marketing

Digital marketing is important because

It helps us in creating our social media presence and build our personal brand

We don't need any GST Number or Current account to start digital marketing unless our earnings are $20k/month or above

It provides us with time freedom and place freedom that is we can work from anywhere and work according to our chosen time in digital marketing

We can network with people around the globe and make connections with them while doing digital marketing

With the help of digital marketing, we can help other people in scaling their businesses and build their online presence and also provide value in other people's lives

Hope you get to know now the importance of digital marketing

If you want o know more about digital marketing then follow @clubdeals

[taxationplanning]

IMS: GSTN Issues Advisory During Initial Phase

Invoice Management System (IMS) IMS is an optional facility introduced from October 2024 on GST Portal, on which the invoices/ records saved/ furnished by the supplier in GSTR-1/ 1A/ IFF, can be accepted, rejected or kept pending by recipients. Based on the action taken by the recipient on the IMS, system will generate the GSTR 2B of the recipient on 14th of subsequent month. The Taxpayer can…

[mahashankh]

Goods and Services Tax (GST)

The Goods and Services Tax (GST) Council is scheduled to meet today, July 11, 2023. The meeting is likely to discuss a number of changes to the GST rates, including changes to the rates of goods and services that are currently exempt from GST. Some of the items that are likely to become more expensive under the new GST rates include: - Pre-packed, pre-labeled food items, such as packaged biscuits, chips, and noodles - Hotel rooms with a tariff of less than Rs. 1,000 per day - Online gaming services - Hospital room rent (excluding ICU) Some of the items that are likely to become cheaper under the new GST rates include: - Cement - Processed food items, such as bread, cereals, and pasta - Diagnostic services - Educational institutions The GST Council is also likely to discuss the introduction of a new slab of 3% GST for certain goods and services. This slab would be lower than the current 5% slab and would be aimed at providing relief to consumers. The outcome of the GST Council meeting will be closely watched by businesses and consumers alike. The changes to the GST rates could have a significant impact on the prices of goods and services in India. I have made the following changes to the article to make it more professional: - I have removed all informal language, such as "may go expensive" and "cheaper." - I have used more formal language, such as "become more expensive" and "become cheaper." - I have corrected some grammatical errors. - I have made the article more concise. - I have added some additional information, such as the introduction of a new slab of 3% GST. - The GST Council is a joint forum of the central and state governments that is responsible for setting GST rates and rules. - The GST was introduced in India in July 2017 and has replaced a number of other indirect taxes. - The GST is a destination-based tax, which means that the tax is paid where the goods or services are consumed. - The GST is a complex tax system, and there are a number of different rates and rules that apply to different goods and services. - The GST Council meets regularly to review the GST rates and rules. The article could also be expanded to include more information about the potential impact of the changes to the GST rates on businesses and consumers. For example, the article could discuss how the changes could affect the prices of different goods and services, as well as the competitiveness of businesses in India. Here are some specific examples of how the changes to the GST rates could impact businesses and consumers: - The increase in the GST rate on pre-packed, pre-labeled food items could lead to higher prices for these items, which could impact consumers' purchasing decisions. - The decrease in the GST rate on cement could make cement more affordable for businesses, which could lead to lower construction costs. - The introduction of a new slab of 3% GST could make certain goods and services more affordable for consumers. - The GST Council is a powerful body that has the authority to make changes to the GST rates and rules. This means that the outcome of the upcoming meeting could have a significant impact on the Indian economy. - The GST Council is likely to face pressure from both businesses and consumers to make changes to the GST rates. Businesses are likely to argue that the current GST rates are too high and are hurting their bottom line. Consumers are likely to argue that the current GST rates are too high and are making it difficult for them to afford basic necessities. - The GST Council is likely to be mindful of the impact that the changes to the GST rates will have on the Indian economy. The Council will need to strike a balance between the needs of businesses and consumers, as well as the need to generate revenue for the government. - The outcome of the upcoming GST Council meeting is uncertain. However, the meeting is likely to be closely watched by businesses, consumers, and the government. The changes to the GST rates could have a significant impact on the Indian economy, and the Council will need to make careful decisions. In addition to the above, the article could also discuss the following topics: - The political implications of the changes to the GST rates. - The impact of the changes to the GST rates on the informal economy. - The impact of the changes to the GST rates on the environment. The article could also include interviews with experts on the GST, such as economists, tax lawyers, and business leaders. These interviews could provide insights into the potential impact of the changes to the GST rates and the challenges that the GST Council faces. Sure, here are some more details that could be added to the article: - The GST Council is a joint forum of the central and state governments that is responsible for setting GST rates and rules. The Council is made up of representatives from the central government and from all of the states in India. - The GST was introduced in India in July 2017 and has replaced a number of other indirect taxes, such as the central excise duty, service tax, and VAT. - The GST is a destination-based tax, which means that the tax is paid where the goods or services are consumed. This is in contrast to the previous system, where the tax was paid where the goods or services were produced. - The GST is a complex tax system, and there are a number of different rates and rules that apply to different goods and services. The GST rates are divided into five slabs: 0%, 5%, 12%, 18%, and 28%. - The GST Council meets regularly to review the GST rates and rules. The Council is also responsible for resolving disputes between the central government and the states. The article could also be expanded to include more information about the potential impact of the changes to the GST rates on businesses and consumers. For example, the article could discuss how the changes could affect the prices of different goods and services, as well as the competitiveness of businesses in India. Here are some specific examples of how the changes to the GST rates could impact businesses and consumers: - The increase in the GST rate on pre-packed, pre-labeled food items could lead to higher prices for these items, which could impact consumers' purchasing decisions. For example, a packet of biscuits that currently costs Rs. 100 could increase to Rs. 105 after the GST rate is increased. This could lead some consumers to switch to cheaper brands or to buy less of the product. - The decrease in the GST rate on cement could make cement more affordable for businesses, which could lead to lower construction costs. This could make it more affordable for businesses to build new factories or to expand existing ones. It could also lead to lower prices for consumers who are buying new homes or renovating their existing homes. - The introduction of a new slab of 3% GST could make certain goods and services more affordable for consumers. For example, a haircut that currently costs Rs. 100 would be subject to a GST of Rs. 3 under the new slab. This could make it more affordable for consumers to get a haircut, especially if they are on a tight budget. The article could also discuss the potential impact of the changes to the GST rates on the Indian economy as a whole. For example, the article could discuss how the changes could affect the growth of the economy, as well as the government's revenue collection. Here are some specific examples of how the changes to the GST rates could impact the Indian economy: - If the GST rates are too high, it could discourage businesses from investing in India. This could lead to slower economic growth. - If the GST rates are too low, the government could lose revenue. This could make it difficult for the government to fund essential services, such as education and healthcare. - The changes to the GST rates could also have an impact on the informal economy. The informal economy is a large part of the Indian economy, and it is often difficult for businesses in the informal economy to comply with the GST rules. If the GST rates are too high, it could make it even more difficult for businesses in the informal economy to comply with the rules, which could lead to a decrease in economic activity in the informal economy. Read the full article

[estefanyailen]

Xq es así reina sn hmbrs. Dsps c pelean cn vs c vn y t djan y ls q estms cndo ests mal y bjn sms tu novio y yo xq y t pso cn mchs pelotudos q stuvrn mal ellos y la q c pne mal ss vs. Mira ya t lo dje, ponlo a prueba cn tds ls q cnzcs nngn pib al q le gsts o t tnga gns le va a caer bn tu novio o vn a evitar jntarc cn el, o lo vn a evitar, no vn a qrer ni q lo nmbrs o peor t vn a dcir mierda pra q lo djs. Hace la prueba. M vs a dar la razn martín tmbn dijo q tds gstn d vs o t qrn dar y hasta ahora no lo veo fallar. Sbms sms hmbrs.

Entiendo, pero no comparto. Perdón. (no mandes más, no voy a responder, te aviso para que no le sumes a tu bronca el que no te responda). Qué termines lo mejor posible la noche. Trata de pasarla lindo vos también, salí (o no), mira alguna pelí, juga a algo, charla cn los chicos... (si queres) pero trata de pasarla lindo es Sábado 😊✨️

[softwaredekho]

Simplifying Tax Filing: The Best Accounting Software Solutions for Indian Companies

Tax filing can be a complex and time-consuming process for Indian companies. However, with the right accounting software, this task can be simplified and streamlined. In this article, we will explore the best accounting software solutions for Indian companies that can assist in simplifying tax filing.

1. Tally ERP 9: Tally ERP 9 is a leading accounting software widely used in India. It offers comprehensive features for managing financial transactions, generating accurate financial reports, and ensuring GST compliance. With built-in tax filing capabilities, Tally ERP 9 simplifies the process of tax computation and e-filing, saving time and reducing errors.

2. QuickBooks: QuickBooks is a popular accounting software that caters to small and medium-sized businesses in India. It provides features like expense tracking, invoicing, and financial reporting. QuickBooks simplifies tax filing by automatically categorizing transactions, generating GST-compliant reports, and facilitating seamless integration with tax filing portals.

3. Zoho Books: Zoho Books is a cloud-based accounting software that offers Indian businesses an efficient way to manage their finances. It provides GST-compliant invoicing, expense tracking, and bank reconciliation features. Zoho Books streamlines tax filing by generating accurate tax reports, providing support for e-way bill generation, and enabling integration with GSTN for seamless filing.

By leveraging these top accounting software solutions, Indian companies can simplify tax filing processes and ensure compliance with GST regulations. These software options automate various aspects of tax computation, generate GST-compliant reports, and facilitate easy e-filing. They minimize manual effort, reduce the chances of errors, and provide businesses with a clear overview of their tax obligations.

In conclusion, choosing the right accounting software is essential for Indian companies looking to simplify tax filing. Tally ERP 9, QuickBooks, and Zoho Books are among the top accounting software solutions that can streamline the tax filing process, saving businesses valuable time and effort while ensuring accuracy and compliance.

[indianexpalert]

New advisory by GSTN: GST E-Way Bill rules changed; Buyers’ input tax credit is at risk if seller does not follow these new rules

The Goods and Services Tax Network (GSTN) has announced the implementation of three important changes to the GST portal, which affect the business of buyers, sellers and transporters equally. All of these changes are effective from January 1, 2025. Two of the changes are in respect to time limits for generation and extension of validity of E-Way Bill and one of them is about secured access to the…

[ambitiousbaba]

Mandatory Multi-Factor Authentication (MFA) and E-Way Bill Updates in 2025

Mandatory Multi-Factor Authentication (MFA) and E-Way Bill Updates in 2025 The Goods and Services Tax Network (GSTN) has announced updates to the E-Way Bill and E-Invoice systems. These updates are scheduled to take effect in 2025. The changes aim to enhance security within the systems. They focus on streamlining processes for users. Greater compliance within India’s GST framework is a key goal…

[renukamd]

Documents Required for Sole Proprietorship in Bangalore

Introduction:

Sole proprietorship registration in Bangalore is one of the most straightforward business structures, ideal for entrepreneurs looking to start their ventures in Bangalore. Registering a sole proprietorship in Bangalore involves a straightforward process that allows individuals to operate under their name or a trade name without formal incorporation.

Simple guide to sole proprietorship registration in Bangalore:

1. Choose a Business Name: When you register as a Sole Proprietorship in Bangalore, you can operate under your legal name or choose a trade name for your business. To avoid legal conflicts, ensure that the selected name is unique and not already used by another company.

2. Obtain Necessary Licenses and Permits: Depending on the nature of your business activities, you may need to obtain specific licenses and permits from the authorities in Bangalore. It could include local municipal licenses, health permits, or professional certifications.

3. Register for Goods and Services Tax (GST): If your annual turnover exceeds the prescribed threshold, you must register for GST with the Goods and Services Tax Network (GSTN). GST registration enables you to collect and remit taxes on your sales transactions.

4. Open a Bank Account: It's advisable to open a separate bank account for your sole proprietorship company business to maintain clear financial records and facilitate transactions. Most banks in Bangalore offer specialised accounts for sole proprietors with minimal documentation requirements.

5. Optional Registrations: While sole proprietorship registration does not require formal registration with any government authority, you may register your business under the Shops and Establishment Act for regulatory compliance and legitimacy purposes.

6. Maintain Records: As a sole proprietor, it's essential to maintain accurate records of your business transactions, income, and expenses. This not only helps you manage your finances effectively but also ensures compliance with taxation and regulatory requirements.

7. Seek Professional Advice: While sole proprietorship registration is relatively simple, it is recommended that you seek professional advice from chartered accountants or legal experts familiar with business regulations. Bangalore's business regulations provide valuable guidance on taxation, compliance, and business planning.

Conclusion:

Sole Proprietorship Registration in Bangalore is a straightforward process that offers entrepreneurs a simple and flexible way to start their businesses. Individuals can follow steps and ensure compliance with relevant regulations. A sole proprietor, individuals can quickly establish their venturesorship, which allows complete control over business operations, minimal administrative burdens, and the opportunity to build a strong presence in Bangalore's vibrant entrepreneurial ecosystem. Aspiring business owners in Bangalore can leverage the benefits of sole proprietorship registration to pursue their entrepreneurial ambitions and contribute to the dynamic business landscape of the city.

[indlivebulletin]

कारोबारियों को बड़ी राहत, GSTR-7 देर से फाइल करने पर नहीं लगेगा लेट फाइन

कारोबारियों के लिए बड़ी राहत वाली खबर सामने आई है. GSTR-7 की देर से फाइलिंग पर कोई लेट फीस नहीं है. GSTR-7 एक ऐसा रिटर्न है, जिसे आपको समय पर फाइल करना जरूरी है. हालांकि GSTN ने एक नई सलाह जारी की है. उसने कहा है कि इसे समय पर फाइल करना बेहद जरूरी है. अक्टूबर 2024 से अगर आपका GSTR-7 निल है. मतलब कोई TDS नहीं कटाया है, तो आप इसे देर से भी फाइल कर सकते हैं. वो भी बिना कोई लेट फीस के. लेकिन अब…

[ebizfilingindia-blog]

Important Updates on GST Returns Due Date and Filing Extensions

The Goods and Services Tax (GST) compliance manner in India calls for groups to adhere strictly to the time limits for submitting returns. Missing the GST returns due date can lead to consequences and hobby fees, impacting cash glide and overall business operations.

Recent updates and amendments have brought submitting extensions and modifications to ease compliance.

This article will discover the modern day updates concerning GST returns due dates, submitting extensions, and crucial pointers for groups to stay compliant.

1. Overview of GST Returns Due Date Compliance

The GST machine mandates agencies to document periodic returns, that could encompass month-to-month, quarterly, and annual filings relying on turnover and the GST scheme followed. The primary returns consist of:

GSTR-1: Filed monthly or quarterly, this returns information to external resources.

GSTR-3B: A summary go back filed month-to-month, putting forward tax liabilities and input tax credit.

GSTR-4: Filed annually with the aid of composition scheme taxpayers.

GSTR 9: The annual return summarizing a taxpayer's monetary 12 months transactions.

2. Recent Extensions on GST Returns Due Date

The government periodically broadcasts extensions to the GST returns due dates, especially at some stage in monetary 12 months closures or unexpected occasions.

COVID-19 and Natural Disasters: The authorities furnished extensions at some stage in the pandemic and for regions laid low with natural failures to help organizations hold compliance without extra strain.

Fiscal Year-End Adjustments: In recent years, the authorities have delivered prolonged deadlines around the monetary 12 months to provide taxpayers time beyond regulation to reconcile debts, audit records, and record returns as it should be.

3. How to Track the Latest Updates on Filing Extensions:

Regular Monitoring of GSTN Notices: The GSTN portal publishes notifications approximately adjustments in submitting dates, making it the maximum dependable source for updated statistics.

Utilizing GST Compliance Software: Many tax and compliance structures ship notifications and reminders based on due dates, ensuring businesses don’t omit crucial time limits.

Engaging Professional Services: Professional tax specialists and criminal advisors can offer well-timed indicators on updates and make certain your filings stay compliant with modern-day due dates.

4. Penalties for Missing GST Returns Due Date

Penalties for delayed submitting include:

Late Fees: For GSTR-3B and GSTR-1, there may be a late charge of ₹20 in keeping with day (₹10 each under CGST and SGST) for nil returns, and ₹50 in line with day for different returns, capped at particular amounts.

Interest on Outstanding Tax: If any tax liability is due, an 18% annual hobby price is charged for the amazing stability.

5. Practical Tips for Meeting GST Return Due Date  

Automate Reminders: Use compliance management gear to install signals and reminders nicely before the due date.

Prepare Early: Gather all vital files and reconcile money owed right away to keep away from final-minute discrepancies.

Seek Professional Support: Tax experts can help take care of complex filings, ensuring accuracy and timeliness, in particular while drawing close to the economic 12 months-quit.

Conclusion

Staying compliant with GST returns due date requirements is vital to keep away from penalties and ensure clean enterprise operations. Regularly tracking updates and filing extensions via the GSTN portal or with the help of professionals can store corporations time and assets.

[taxationplanning]

GST Amnesty Scheme 2024: GSTN Issues Advisory

About GST Amnesty Scheme 2024 For reducing tax disputes and to provide big relief to the taxpayers, GST Council in its 53rd meeting had recommended GST Amnesty Scheme 2024 for waiver of interest and penalties in the demand notices or orders issued under Section 73 of the CGST Act, 2017 (i.e. the cases not involving fraud, suppression or wilful misstatement, etc.) for the Financial years 2017-18,…

[jjtax]

Importance of GST in India

How did a revolutionary tax reform reshape India’s economic landscape? Let’s explore the impact of the Goods and Services Tax (GST) on India’s economy and business world.

On July 1, 2017, India embraced the Goods and Services Tax (GST) under Prime Minister Narendra Modi’s leadership. This move aimed to streamline the complex maze of indirect taxes—Excise Duty, VAT, Service Tax, and more—that had long burdened businesses and consumers alike. GST unified these taxes into one simplified system, saving businesses from navigating a tangle of compliance requirements, while reducing costs for consumers.

Why GST Matters: Key Benefits

1. Simplified Compliance: GST brought various indirect taxes into a single, consolidated levy. With the introduction of the Input Tax Credit (ITC), businesses gained a way to claim credits on inputs, significantly reducing paperwork, errors, and compliance costs.

2. Boost to Trade: By eliminating interstate tax barriers, GST created a seamless national market. The resulting lower logistics costs and streamlined processes have allowed businesses to thrive, making Indian goods and services more competitive globally.

3. Higher Revenue Collection: With a broader tax base and reduced evasion, government revenues increased, enabling more public welfare programs and infrastructure investments.

4. Consumer Benefits: The elimination of the cascading tax effect under GST lowered prices on many goods, increasing consumer purchasing power. Businesses now invest more in R&D, delivering better products to consumers.

5. Ease of Doing Business: The simplified tax system has boosted entrepreneurship, attracting both foreign and domestic investment. This has spurred economic growth and job creation.

6. Transparency and Accountability: Through e-invoicing and the GST Network (GSTN), tax evasion has been curbed. Businesses operate with greater transparency, making tax tracking easier.

7. Formalizing the Economy: The tax net expanded, reducing the informal sector and fostering a more organized economy.

Looking Ahead: Enhancing GST for a Stronger Future

While GST has transformed India’s economic landscape, further improvements are possible. Investing in technology, enhancing data sharing, and using AI for tax compliance could make GST administration even smoother. Collaboration among stakeholders, businesses, and tax experts will ensure GST continues to evolve with India’s growing economy.

At JJ Tax, we’re here to guide you through every step of your GST journey. Whether you’re a startup or an established business, our experts can help you navigate the intricacies of GST compliance. Download the JJ Tax App for all your tax, legal, and compliance needs.