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Filing returns is not enough. This comprehensive guide covers the 4 essential GST reconciliation matrices (Books vs GSTR-1 vs GSTR-3B vs GSTR-2B vs E-Way bills), 3-bucket ITC tracking, timing variance fixes, and a 5-step monthly close SOP.
GST Reconciliation: Why Regular Review Matters for Books, Returns and ITC in India Read More »
Missing records can trigger deemed tax demands. This comprehensive guide details the 7 mandatory statutory registers under Section 35 and Rule 56, the 72-month retention rule (Section 36), electronic audit trail mandates, and warehouse inventory logs.
GST Records and Documents: Books of Accounts and Retention Rules in India Read More »
Confused by GST invoice acronyms? This comprehensive guide explains the difference between CGST, SGST, IGST, and UTGST, rules for intra vs inter-state supply, UTGST Union Territories, and the strict Input Tax Credit (ITC) utilization hierarchy.
CGST, SGST, IGST and UTGST: Understanding the Different GST Components in India Read More »
Everything you need to know about Goods and Services Tax (GST) in India: how it replaced 17 legacy taxes, the Dual GST model (CGST/SGST/IGST), the 4-tier rate slabs (5% to 28%), commodities outside GST, and how Input Tax Credit eliminates cascading taxes.
GST Explained: Understanding India’s Goods and Services Tax Read More »
An invalid invoice destroys your buyer’s Input Tax Credit. This comprehensive guide covers the 16 mandatory fields under Rule 46, HSN digit rules, E-invoicing thresholds (>₹5Cr), Bill of Supply vs Tax Invoice, Credit Notes, and an annotated sample invoice.
GST Invoice Explained: Mandatory Rules, Components and E-Invoicing Standards in India Read More »
Why does India have multiple GST rates? This comprehensive guide explains the 4-tier slab structure (0%, 5%, 12%, 18%, 28%), Compensation Cess on luxury goods, special 3% gold rates, nil-rated vs zero-rated exports, and a 20-item rate reference matrix.
GST Rates Explained: Why Different Goods and Services Have Different Rates in India Read More »
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