Highlights of Interim Budget 2024-25 regarding GST

The Hon’ble Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting the Interim Budget 2024-25 in Parliament today asserted that by unifying the highly fragmented i

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UNRAVELING TABLES 14 AND 15: AN INNOVATIVE PHASE IN GSTR-1 REPORTING

The Goods and Services Tax Network (GSTN) ushers in a transformative update to the GSTR-1 return, unveiling two pivotal tables – Table 14 and Table 15.

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5 New Capabilities of TallyPrime that Simplifies GST Compliance for Your Business

The latest release of TallyPrime is loaded with key features such as GST reconciliation ( GSTR-2A, GSTR-2B, and GSTR-1), multi-GSTIN support in a single company, powerful report filters, and..........

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Key Recommendations of the 52nd GST Council Meeting: All You Need To Know

Key Recommendations of the 52nd GST Council Meeting: All You Need To Know 📌 A. Recommendations relating to GST rates on goods and services: 📢 I. Changes in GST rates of goods: ➡️ GST rates for "F

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E-invoice Rejections & Resolutions

NIC has published the following error codes, error message, the reasons for the errors and the corresponding resolutions to help you resolve errors faced during e-Invoice upload to the NIC portal.

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Guidelines for e-Invoice with TallyPrime 3.0

Register TallyPrime for Tally GSP Service only in case your business need E-invoice or not registered E-way bill Online Service in TallyPrime.

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Critical Challenges for Chartered Accountants related to the new e-Invoicing System

In the recent update, from 1st August 2023, e-Invoicing will be essential for all the registered persons whose aggregate turnover in any prior fiscal year from 2017-18 onwards exceeds 5 crores.

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What are GSTR-2B and GSTR-2A statements?

GSTR-2A is a statement of inward supplies for the taxpayer. GSTR-2B is also an auto-populated ITC statement, similar to GSTR 2A...

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GSTR-2A and GSTR-2B reconciliation in TallyPrime

GST reconciliation in TallyPrime is so simple that by just uploading the GSTR2B/2A statements, the books’ data will be automatically reconciled with the statement

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Sale of small plots of land with development work is not taxable under GST.

The AAAR, Karnataka, in the matter of M/s. Ms. Rabia Khanum [KAR/AAAR /02/2023 dated February 14, 2023] has upheld the advance ruling passed by AAR, Karnataka and held that the amounts received by the

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Rule 89(4)(c) is ‘ultra-vires’ to the provisions of GST law and held ‘unconstitutional’

The Hon’ble Karnataka High Court in M/s. Tonbo Imaging India Pvt Ltd v. Union of India [W.P.C No. 13185 of 2020] (T-RES) dated February 16, 2023] has held that, Rule 89 (4)(c) of the Central Goods and

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Minor discrepancy in the e-way bill would not attract penalty proceedings

The Hon’ble Allahabad High Court in M/s. Varun Beverages Limited. v. State of U.P. and Ors. [Writ Tax No. - 958 of 2019 dated February 2, 2023] has set aside the order imposing the penalty upon the...

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