Easily download your SMC Global P&L statement for accurate tax filing. Follow this guide to access reports for capital gains calculations.
Updated ITR forms for AY 2025-26 bring expanded eligibility, stricter HRA disclosures, and a new Rs 1 crore asset reporting threshold.
Refundable security deposits are typically GST-free. Tax applies only when deposits are non-refundable, forfeited, or adjusted against payments.
GST is not payable on credit notes issued without GST for sales targets, bonuses, or incentives to distributors, as they are financial/commercial adjustments, not taxable supplies under Section 15(3) or Section 34 of CGST Act. No ITC reversal is required by recipient, and no tax invoice needed from distributor, provided supplier does not reduce original output GST. Supported by MP AAR 01/2022 (Rajesh Kumar Gupta), KAR ADRG 76/2019 (Kwality Mobikes), and CBIC Circular 251/08/2025-GST.
Learn how GST Forms PMT-03 and PMT-03A facilitate re-crediting ITC or cash for rejected or erroneously sanctioned refund claims.
The 42nd GST Council Meeting addressed state compensation shortfalls, approved quarterly filings for small taxpayers, and updated HSN code mandates.
India’s GST Composition Scheme simplifies tax for small businesses with fixed rates. Explore eligibility, benefits, and key restrictions like no ITC.
Explore einvoice1.gst.gov.in, India’s primary IRP for generating IRNs. Essential for GST compliance for businesses with over Rs.5 Cr turnover.
CBIC circulars outline GST relief measures during COVID-19, including deadline extensions, interest waivers, and compliance clarifications.
The 56th GST Council introduced a simplified 5% and 18% rate structure and exempted life and health insurance. Reforms also include GSTAT and easier registration.
Learn to reconcile GSTR-2B with GSTR-3B for accurate ITC claims. This guide covers steps, discrepancies, and how to avoid GST penalties.
A guide to the 15-digit GSTIN code for Indian businesses. Learn its structure, verification process, and key benefits like Input Tax Credit.
Comprehensive explanations, FAQs, and updates about Tax, Finance, and Compliance.
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