IRIS Zircon, our API gateway, enables connect with GST system via secure GST system APIs and NIC system via secure EWB APIs. If you an Application Service Provider (ASP) providing GST filing and e-way bill generation solutions to end taxpayers or a taxpayer ready to consume the APIs exposed by GSTN and NIC. IRIS Zircon is the solution for you, to give you an integrated and seamless connection...

GSTR-9 Annual Return Form is an annual return form that needs to be filed once a year by registered taxpayers under GST disclosing a detailed summary of outward supply and taxes paid thereon, input tax credits claimed, taxes paid and refund claimed in the financial year in respect of which such annual return is filed.

GSTR-9 Annual Return Form is an annual return form that needs to be filed once a year by registered taxpayers under GST disclosing a detailed summary of outward supply and taxes paid thereon, input tax credits claimed, taxes paid and refund claimed in the financial year in respect of which such annual return is filed.

Know if e-invoicing for small businesses will prove to be highly beneficial With e-invoicing tax leakage and frauds using fake invoices are expected to reduce considerably due to the authorization of every invoice from the government portal. More than this, the e-invoicing mandate will prove to be highly beneficial to small businesses.

What is Inverted Tax Structure? As the name suggests, Inverted Tax Structure is a condition where the rate of tax on inputs purchased i.e. the ‘GST Rate paid on inputs received’ is more than the rate of tax i.e. ‘GST Rate Payable on outward supplies’ on outward supplies (finished goods). In simple terms, the GST rate paid on purchases is more than the GST rate paid on...

GST Rule changes from April 2021 GST is a dynamic law. It has gone through several changes, alterations, and additions ever since its inception. It is a transformational change in the area of indirect taxation which has an overarching impact on the economy and all the businesses, irrespective of their size, turnover and operations. We as taxpayers, business owners, and tax consultants must be...

GST Rule changes from April 2021 GST is a dynamic law. It has gone through several changes, alterations, and additions ever since its inception. It is a transformational change in the area of indirect taxation which has an overarching impact on the economy and all the businesses, irrespective of their size, turnover and operations. We as taxpayers, business owners, and tax consultants must be...

Building Credit Models using GST Data GST Data fits the bill quite well. Hence, no wonder it is becoming popular amongst financial institutions for customer on-boarding, credit evaluation, and underwriting. The non-consent data or the publicly available data of the taxpayers (i.e. a GST registered entity) provides reasonable indicators about the profile and health of the taxpayer. If you...

Form PMT-06 is a GST challan or a form for deposit of goods and services tax. This Challan has gained significance after the introduction of the QRMP Scheme. It can be generated for any payment made via net banking or OTC (over the counter).

To communicate with the E-invoice system for registering your invoices, it is important to have API access. Companies having turnover more than 500 cr. have two options – one is “Direct API Access” and second is “API access through GSP”. But companies having turnover between 100 cr. to 500 cr. have only one option i.e., “API access through GSP”. So,...

In this issue, we’ll be covering Latest GST Updates and Latest EWB Updates that you need to be aware of! And, we share a detailed article about Auto-population of GSTR 3B. Here, we also cover all the updates of our GST products witnessed throughout 2020. Lastly, we share the link to our compliance calendar for January 2021 to help you stay compliant along with two other interesting...

In this issue, we’ll be covering Latest GST Updates and Latest EWB Updates that you need to be aware of! And, we share a detailed article about Auto-population of GSTR 3B. Here, we also cover all the updates of our GST products witnessed throughout 2020. Lastly, we share the link to our compliance calendar for January 2021 to help you stay compliant along with two other interesting...

GST Updates for the month A lot of new notifications and updates on the GST front have been released this month. Since this is the last quarter of the year 2020 and e-invoicing will be made mandatory for taxpayers with an aggregate turnover of over Rs. 100 Cr. from Jan 2021, a lot more changes are expected soon. Here, we have compiled all the big GST News updates from November for your...

GST Updates for the month A lot of new notifications and updates on the GST front have been released this month. Since this is the last quarter of the year 2020 and e-invoicing will be made mandatory for taxpayers with an aggregate turnover of over Rs. 100 Cr. from Jan 2021, a lot more changes are expected soon. Here, we have compiled all the big GST News updates from November for your...

E-book on ITC maximization The Complete Blueprint to ITC and ITC maximization to help you ace the GST Reconciliation game! Experts at IRIS GST have created this comprehensive e-book and made it available here for free so as to offer you an exact roadmap to ITC maximization and help you ace the GST Reconciliation game! Learn how you can maximize your ITC and reduce the indirect tax burden...

If a taxpayer’s GST registration is cancelled or surrendered, then he/she needs to file a return in Form GSTR 10. It is known as the Final Return. This return has to be filed within three months of the date of cancellation or the date of order of cancellation (whichever is later). Form GSTR 10 also shows details of the ITC involved in closing stock (inputs and capital goods) to be...

If a taxpayer’s GST registration is cancelled or surrendered, then he/she needs to file a return in Form GSTR 10. It is known as the Final Return. This return has to be filed within three months of the date of cancellation or the date of order of cancellation (whichever is later). Form GSTR 10 also shows details of the ITC involved in closing stock (inputs and capital goods) to be...

Version 1.1 of E-Invoicing Schema released: There are not substantial changes in the new E-Invoicing schema. It has major changes to improve the syntax, parameter definitions and specifications.  In most of the cases, descriptions (label) and explanatory remarks are reworked. Following are the changes in the new E-Invoicing schema:

With the final nod from GST Council, electronic invoicing or e-invoicing system shall soon be a reality. A transformational move by the CBIC, e-invoicing in India can help curb tax evasion drastically and also bring efficiency and ease in GST compliance. Not only this but with e-invoicing, India can join the bandwagon of countries worldwide who have adopted universally accepted standards...

An e-invoice will be considered valid once an IRN is generated for the same. Further, it is necessary to get the IRN and QR code printed on the final invoice. Thus, when you are on the receiving side of the invoice cycle, having IRN for an invoice will be necessary to claim ITC. Now, the e-invoice mandate, as we know, is applicable to suppliers having turnover above ₹ 500 cr. Invoices...