Goods and Services Tax (GST) is a crucial part of modern tax compliance for businesses. Whether you run a small enterprise or a large corporation, keeping up with tax regulations can be complex. This is where GST software comes into play, helping businesses automate tax calculations, file returns, and stay compliant with government regulations. Continue reading “Top GST Software: Features, Benefits & Top Solutions”
Invoice Management System (IMS)
What is the Invoice Management System (IMS) Under GST?
The Invoice Management System (IMS) is a new feature introduced within the GST portal, designed to help recipient taxpayers manage their invoices effectively. With this tool, recipients can accept, reject, or mark as pending the invoices filed by their suppliers. Continue reading “Invoice Management System (IMS)”
FAQ’s on Invoice Management System by GSTN on GST Portal
Invoice Management System (IMS) is a facility in GST system, where the invoices/records saved/filed by the supplier in GSTR-1/1A/IFF, can be accepted, rejected or kept pending by recipients in order to correctly avail ITC. Continue reading “FAQ’s on Invoice Management System by GSTN on GST Portal”
Gujarat GST authority upholds Rs 173.9 cr tax demand against Maruti Suzuki’s arm
New Delhi, Maruti Suzuki India on Wednesday said the Gujarat GST authority has upheld the tax demand of Rs 173.9 crore along with a penalty of Rs 17.4 crore against its arm Suzuki Motor Gujarat Pvt Ltd and the subsidiary company will move the first appellate authority to challenge the order. Continue reading “Gujarat GST authority upholds Rs 173.9 cr tax demand against Maruti Suzuki’s arm”
GST Software department goes on tax demand overdrive
NEW DELHI: From Hindustan Unilever to ICICI Bank HDFC Bank and Eicher Motors, almost all the big names of India Inc and thousands, if not lakhs, of smaller GST taxpayers have received tax demand on the eve of new year as authorities sought to meet the five-year deadline to raise claims, literally burning the midnight oil. Continue reading “GST Software department goes on tax demand overdrive”
Filing of Announcement in XBRL format by BSE & NSE
Circular By Bombay Stock Exchange(BSE) & Nation Stock Exchange(NSE) – Filing of Announcements pertaining to Loss of Share Certificate/Issue of Duplicate Share Certificate/Closure of Trading Window and Corporate Insolvency Resolution Process (‘CIRP’) in XBRL format on BSE listing centre
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GSTN Issued Important Advisory For Taxpayers – Two Factor Authentication For GSTN Taxpayers
Dear Taxpayers,
1. GSTN is introducing two-factor authentication (2FA) for taxpayers to strengthen the login security in GST portal. Continue reading “GSTN Issued Important Advisory For Taxpayers – Two Factor Authentication For GSTN Taxpayers”
Best XBRL Software for Preparation & Validation of Annual Report in XBRL Format
Introduction
In the fast-evolving landscape of financial reporting, the extensible Business Reporting Language (XBRL) has emerged as a game-changer, revolutionizing the way companies prepare and validate their financial data. With the increasing demand for accurate and transparent reporting, XBRL software has become a crucial tool for businesses of all sizes. In this article, we present a comprehensive list of the best XBRL return software that excel in both preparation and validation, ensuring a seamless reporting experience.
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GSTIN Update Advisory on Geocoding the Address of Principal Place of Business
FAQs – Geocoding the Address of Principal Place of Business for Existing Regular Taxpayers (Only Applicable for Delhi and Haryana)
Q.1 For which class of taxpayers is the functionality of Geocoding Principal Place of Business available?
Ans. The Geocoding of Principal Place of Business process is applicable for Normal Taxpayer/ Composition/ Casual Taxable Person/ Input Service Distributor (ISD)/ SEZ Developer/ SEZ Unit.
Continue reading “GSTIN Update Advisory on Geocoding the Address of Principal Place of Business”
50th Meeting of the GST Council News on New Rates and Updates
The 50th meeting of the Goods and Services Tax (GST) Council was held here today, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
Continue reading “50th Meeting of the GST Council News on New Rates and Updates”