ACCOUNTING & TXATION When GST Refund not available for Exporters Under section 16 of IGST Act 2017, exports are considered as zero rated supplies. Zero rated supplies mean where the GST burden on both inputs and outputs is zero. This is mainly to make Indian Goods and Services competitive in the international market. GST Act … Read More →
IMPORTANT POINTS ON 39TH GST COUNCIL MEETING HELD ON 14TH MARCH 2020 Important points on 39th GST Council Meeting explains decisions related to Interest on delayed payments, Deferment of the new GST return system and e-invoicing, Changes in the GST rates, Deadline of GSTR-9 and 9C, Know your supplier, Waiver and Extension of due … Read More →
GST INPUT RECONCILIATION ON MONTHLY BASIS Method to reconcile the GSTR 2A and Tally without any modification; We will discuss here, how we can reconcile 2A with Tally data and identified the difference on specific party. kindly adopt below process flow: Download 2A Remove blank line and make in Format Reconcile the amount with shown … Read More →
No wonder that even the industry biggies are mulling over the tragic effect that GST (Goods and Services Tax) will cause to the economy post its implementation. The question of the hour is we are ready to absorb this paradigm shift in the system or the economy will succumb to this transition. While we are … Read More →
Before the Goods and Services Tax (GST) reform is rolled out, India should take cautious lessons from other nations which have also introduced similar legislation, industry leaders have warned. A report released on Monday by the Confederation of Indian Industry and tax consultancy major Deloitte, which incorporates the views of Chief Financial Officers (CFO) of … Read More →