Is your GST compliance process still a cost burden and time-consuming, or a strategic advantage? This question comes to light because when GST first came into force in 2017, businesses thought it was considered a compliance task that required monthly and annual return filing. However, as time passed, businesses realized that it is not just… Continue reading How to Choose the Right GST Compliance Software

GST Compliance India: Introduction  Imagine a large enterprise that is always compliant and regular in GST filings, ensuring that it takes ITC only where all relevant conditions including reflection in GSTR 2B is complied with, proactively ensures that ITC of items blocked under GST law is not taken. Even after ensuring that proper compliance, it… Continue reading Mastering GST Compliance in 2025: Best Practices for Indian Enterprises 

Introduction  Goods and Services Tax Singapore (GST), introduced on 1st April 1994, is a broad-based consumption tax levied on the supply of goods and services and import of goods in Singapore. GST Singapore is a value-added tax, which means tax is levied on each stage of the supply chain, where the businesses can claim credits… Continue reading Complete Guide to Goods and Services Tax (GST) in Singapore

The filing of GSTR-9 for FY 2023-24 is approaching on 31 December 2024, and the major concern for any business organization is clarity on rules and amendments. Any misinterpretation of the law, misrepresentation, or non-accurate disclosure of information in the annual return may lead to unnecessary penalties, fines, and notices. To avoid such circumstances, the… Continue reading Guidance on the difference in the value of Table 8A and 8C of GSTR-9 for FY 23-24

In the intricate web of taxation, the GST stands as a cornerstone, streamlining the levies on the supply of goods and services. Amidst the complex framework of GST regulations, taxpayers may find themselves at the receiving end of a GST notice – a communication that carries weighty implications for their compliance with tax obligations. As… Continue reading What is a GST Notice?: Unraveling Reasons and Types of GST Notices

Introduction In the complex taxation landscape, businesses often navigate the intricacies of notices issued by the GST Authority. These formal notices from GST authorities require proper attention and strategic handling to address concerns related to discrepancies, mismatches in various forms and returns filed, or any other non-compliance with the law. Recognizing the need for clear… Continue reading Handle Notices for ITC Mismatch in GSTR-2A and GSTR-3B for FY 2017-18 and 18-19

In today’s fast-paced digital world, information flows from one place to another at an unprecedented speed. Businesses and governments are running at a fast pace towards automation and digitization in their workflow process. The government uses advanced technologies, systems, or solutions to keep track of the compliance of rules and regulations, tax collection, and provide… Continue reading Strategies for Effective Notice Management in a Digital Era

In a bid to streamline compliance and improve transparency in the input tax credit (ITC) claims, the Goods and Services Tax Network (GSTN) has introduced Electronic Credit Reversal and Re-claimed Statement (ECRS). The ledger aims to provide a comprehensive view of ITC reversals, their reclaims, and the balance on a particular date. We’ll delve into… Continue reading Understanding Electronic Credit Reversal and Re-claimed Statement (ECRS)

In this era of automation, real-time scrutiny of GST returns has become the norm, leading to automated alerts when deviations surpass prescribed risk thresholds. The concept note highlights instances such as DRC-01C and DRC-01B notices, issued for discrepancies in liabilities and input tax credits. Taxpayers are required to rectify these discrepancies before filing returns for… Continue reading Navigating the regime where tax meets technology

What exactly is GST? Considered a digital successor of VAT (Value Added Tax), the introduction of the Goods and Services Tax was one of the biggest transformations seen in the Indian taxation system. Having officially been introduced in July 2017, under GST the tax is levied at the same rate across the country and the… Continue reading What exactly is GST?