Indeed, technology serves as a valuable tool within the GST framework, facilitating the automation of processes, data collection, and enhancing overall efficiency. Nevertheless, it is the human element that breathes life into the system. Below are essential aspects highlighting the imperatives for human knowledge involvement in the GST framework: Interpreting Complex Transactions In the landscape of GST, intricate business transactions often require the discerning judgment and expertise of human professionals to accurately classify and appropriate within the GST framework. While
Tag: GST
Choosing the Right GST Service Provider:
Key Factors to Consider for Smooth Compliance and Financial Efficiency As a business owner, navigating the complexities of Goods and Services Tax (GST) compliances juxtaposed with supply chain and business can be a daunting task. With ever-changing regulations and a constant need for accurate reporting, it’s crucial to have a reliable GST service provider with a deep understanding of GST laws and regulations. The right GST service provider can streamline your compliance processes, ensure financial efficiency, and save you from
Indirect Tax Alert – June 2023
GST Calendar –Compliances for the month of June’2023 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) July 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) July 10, 2023 GSTR-1 July 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) July 13, 2023 GSTR-6 Input Service Distributor July 13, 2023 GSTR-2B (Auto Generated Statement) July 14, 2023 GSTR-3B July 20, 2023 GSTR-5 (Non-Resident Taxable Person) July 20, 2023 GSTR-5A (OIDAR Service Provider) July 20, 2023 PMT-06 (who have opted
Mastering Goods and Services Tax (GST): Essential Tips and Strategies for Businesses to Navigate the Complexities
Introduction The introduction of Goods and Services Tax (GST) has revolutionized the tax landscape for businesses globally. This all-encompassing and unified tax system, embraced by numerous countries, aims to simplify and streamline indirect taxation foster sustainable economic growth, and bolster tax compliance. However, navigating the intricate complexities of GST can be an overwhelming challenge for businesses, especially those unfamiliar with its intricacies. In this blog post, we will explore essential tips and strategies to empower businesses in mastering the GST
Indirect Tax Alert – May 2023
GST Calendar – Compliances for the month of May’2023 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) June 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) June 10, 2023 GSTR-1 June 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) June 13, 2023 GSTR-6 Input Service Distributor June 13, 2023 GSTR-2B (Auto Generated Statement) June 14, 2023 GSTR-3B June 20, 2023 GSTR-5 (Non-Resident Taxable Person) June 20, 2023 GSTR-5A (OIDAR Service Provider) June 20, 2023 PMT-06 (who have
Indirect Tax Alert – April 2023
GST Calendar –Compliances for the month of April 2023. Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) May 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) May 10, 2023 GSTR-1 May 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) May 13, 2023 GSTR-6 Input Service Distributor May 13, 2023 GSTR-2B (Auto Generated Statement) May 14, 2023 GSTR-3B May 20, 2023 GSTR-5 (Non-Resident Taxable Person) May 20, 2023 GSTR-5A (OIDAR Service Provider) May 20, 2023 PMT-06 (who have
Indirect Tax Alert – March 2023
GST Calendar –Compliances for the month of March’2023 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) April 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) April 10, 2023 GSTR-1 April 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) April 13, 2023 GSTR-6 Input Service Distributor April 13, 2023 GSTR-2B (Auto Generated Statement) April 14, 2023 GSTR-3B April 20, 2023 GSTR-5 (Non-Resident Taxable Person) April 20, 2023 GSTR-5A (OIDAR Service Provider) April 20, 2023 PMT-06 (who have opted
Indirect Tax – December 2022
GST Calendar –Compliances for the month of December’2022. Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) January 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) January 10, 2022 GSTR-1 January 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) January 13, 2022 GSTR-6 Input Service Distributor January 13, 2022 GSTR-2B (Auto Generated Statement) January 14, 2022 GSTR-3B January 20, 2022 GSTR-5 (Non-Resident Taxable Person) January 20, 2022 GSTR-5A (OIDAR Service Provider) January 20, 2022 PMT-06 (who have opted
Indirect Tax Alert – October 2022
GST Calendar –Compliances for the month of October 2022. Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) November 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) November 10, 2022 GSTR-1 November 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) November 13, 2022 GSTR-6 Input Service Distributor November 13, 2022 GSTR-2B (Auto Generated Statement) November 14, 2022 GSTR-3B November 20, 2022 GSTR-5 (Non-Resident Taxable Person) November 20, 2022 GSTR-5A (OIDAR Service Provider) November 20, 2022 PMT-06 (who have
INDIRECT TAX ALERT-JUNE 2022
GST Calendar –Compliances for the month of June’2022 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) July 10,2022 GSTR-8 (Tax Collected at Source ‘TCS’) July 10,2022 GSTR-1 July 11,2022 IFF- Invoice furnishing facility (Availing QRMP) July 13,2022 GSTR-6 Input Service Distributor July 13,2022 GSTR-2B (Auto Generated Statement) July 14,2022 GSTR-3B July 20,2022 GSTR-5 (Non-Resident Taxable Person) July 20,2022 GSTR-5A (OIDAR Service Provider) July 20,2022 PMT-06 (who have opted for QRMP scheme) July 25,2022 47th GST Council Meet