GST

Understanding the process to avail the refund of GST paid on the exports

As per the IGST Act export is the process of selling goods and services in international Market. According to the act goods and services which are exported are considered “Zero rated supplies”. India has the developing economy and Government make the policies to expand its export base. The GST rate is 0% for the exports, […]

GST Exemption list for E-way Bill

From the 1st of April 2018, the e-way bill became live for all inter-state transactions, and also the phase-wise roll-out for States have also started. Businesses across the nation, have thus become equipped or are becoming ready to align their business with the requirements of e-way bill compliance. However, there is a GST exemption list for an […]

Filing of NIL FORM GSTR-3B return via SMS

To ease up the return filing process under GST, recently, the Government rolls out the facility of filing of NIL FORM GSTR-3B return through Short Message Service (i.e., SMS). The new facility would enable the taxpayer to file their GST return via SMS effortlessly. However, it is essential to note that the facility is available […]

What is GST Suvidha Kendra?

eFiling India provides the business opportunity for entrepreneurs in the form of GST Suvidha Kendra. It facilitates the opening of GST franchise by investing a small amount which creates a monthly stable income source for the investor. GST Suvidha Kendra is India’s largest GST franchise with 10,000+ franchises around the country and it has successfully […]

Comparison between GSTR-1 and GSTR-3B

Every dealer registered under GST has to file monthly and quarterly GST Returns. These returns are required to collect information from registered dealers and pass on the Input Tax Credit.  In this article, we shall be discussing the comparison between GSTR-1 and GSTR-3B returns in detail. What is GSTR-1 and GSTR-3B? GSTR-1 is a monthly or […]

Keep in mind before opting for Voluntary GST registration

Goods and services tax is a single, consumption-based tax applicable on sale, manufacturing, and trade of goods and services. A business exceeding the turnover of Rs 20 lakh in a financial year (Rs 10 lakh for North Eastern and hill states) is eligible to get GST registration. Many businesses opt for voluntary GST registration in India […]

What is GST credit and how to avail it?

GST Credit is commonly known as Input Tax Credit (ITC), is the credit of ‘input tax’ paid by a person for the use of goods or services or both in the course or furtherance of business. ‘Input tax’ here means: Central GST, State GST, Integrated GST, Union Territory GST charged on supply of goods and/or services but […]

Corona Virus – Due Dates Extension

Income Tax Due Date Extension F.Y 18-19 last date for filing income tax return has been extended to 30th June 2020. For delayed income tax payment made till 30th June 2020, delayed payment on income tax will be reduced to 9% from 12%.  No due date extension for TDS deposit, but delayed deposit of TDS […]

About 92% of large taxpayers filed annual returns for 2017-18: GSTN

This is the first time businesses registered under the GST have to file an annual return, GSTR-9, and a reconciliation statement, GSTR-9C, after the tax was launched 2017 The GST Network (GSTN) on Sunday said around 92% of large taxpayers with a turnover of over ₹2 crore have filed annual returns for the 2017-18 fiscal. […]

CBIC Notifies Exemption of Customs Duty against Scrips Issued under 2% Additional ad hoc Incentive for Mobile Phones

The Central Board of Indirect Taxes & Customs (“CBIC”) has notified regarding exemption of duties of Customs against scrips issued under the 2% Additional ad hoc incentive for mobile phones vide Notification No 14/2020 – Customs dated February 14th, 2020 (“said Notification”). Notification No. 24/2015 – Customs dated April 8th, 2015 (“original Notification”) has been amended vide the said […]

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