Blog tagged as GSTreturn

The GST Network (GSTN) has issued an important update regarding the reporting of: ✔ ITC reversal and re-claim ✔ RCM liability and corresponding ITC claim. To avoid clerical mistakes and excess ITC claims, GSTN has introduced two ledgers on the GST portal

Imagine waking up one morning and finding a big brown envelope from the Income Tax Department. You open it and your eyes freeze — it says you have undisclosed income of ₹2.28 crore, and you must pay tax and penalty running into tens of lakhs!

In many property deals, people sign an agreement to sell before they do the final registration of the sale deed.

Businesses often face small mistakes in GST invoices – a wrong GSTIN, spelling errors, or address mismatches. But can such technical errors lead to denial of Input Tax Credit (ITC)?

The Goods and Services Tax Network (GSTN) has introduced new features in the Invoice Management System (IMS) to make GST compliance simpler, more transparent, and less burdensome for taxpayers.