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”

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.

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FAQ – GSTN Advisory for New Compliance by Taxpayers in Form DRC-01B Pertaining to Differences in GSTR-1 vs. GSTR-3B (gstr-1-3b-drc-01b)

FAQs > Return Compliance in Form DRC-01B (Intimation of difference in liability reported in statement of outward supplies and that reported in return)

1. When can Form DRC-01B be filed?

The system checks the spike between the liability declared in form GSTR-1/IFF and the liability paid in GSTR-3B/3BQ for each return period. If the liability declared in GSTR-1 exceeds the liability paid in Form GSTR-3B by a pre-defined limit for a return period or the percentage difference between the liabilities declared in GSTR-1 exceeds the configurable percentage threshold from the liability paid in Form GSTR-3B for a return period, an intimation is sent to you.

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GST Software: Benefits, Features, and Price of the Best GST Software in India

Introduction: What is GST Software?

GST (Goods and Services Tax) is an indirect tax system introduced in India in July 2017. It replaced the existing complex tax structure with a simple and transparent system. GST Software is a tool designed to help businesses comply with GST regulations. It automates the process of GST compliance, which includes calculating and filing GST returns, generating e-way bills, managing invoices, and reconciling data.

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