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Recent Updates
  • GST News December 2020
    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...
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  • GST News December 2020
    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...
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  • GST News for the Month
    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...
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  • GST News for the Month
    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...
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  • ebook On ITC Maximisation
    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...
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  • Form GSTR-10
    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...
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  • Form GSTR-10
    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...
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  • E-invoicing Schema
    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:
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  • E-invoicing in India
    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...
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  • Effect of E-Invoicing on ITC Claim
    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...
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  • GST News June 2020
    In this issue in GST News June 2020, we’ll be covering the highlights of the 40thth GST Council, 5 Key Areas You Need to Plan for an Effective E-Invoicing Implementation + Few other interesting articles & updates Feature Highlight of the month, Peridot 3.2 and we also introduce ourUnified Solution.
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  • New GST return - Ebook
    The 27th and 28th GST council proposed and laid down rules for the implementation of new GST return forms. The New GST returns are expected to free the taxpayers from the hassles of self-computation of tax liabilities and complex GST returns. This guide is sure to offer its readers a much-needed clarity on the ‘New Returns’ and its procedures as it also talks about the transition...
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  • Maximize your Input tax credit
    also based on the purchase register of the taxpayer. There are some cases where ITC cannot be claimed at all for which you can refer to our blog: Cases where Input Tax Credit cannot be claimed. Similarly there are a few preconditions that need to be met while claiming ITC. Let us understand in detail these preconditions that you need to take care while claiming ITC: Taxpayer should be in...
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  • Scrap Sales in GST
    The term “Scrap” has not been defined in GST Laws. In GST regime, in order to be taxable, the waste and scrap does not have to pass the test of manufacture or mechanical process or marketability. It is admittedly as ‘supply’ in course of business. While taxability of waste and scrap is no longer contentious, finding proper HSN (Harmonized System of...
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  • Scrap Sales in GST
    The term “Scrap” has not been defined in GST Laws. In GST regime, in order to be taxable, the waste and scrap does not have to pass the test of manufacture or mechanical process or marketability. It is admittedly as ‘supply’ in course of business. While taxability of waste and scrap is no longer contentious, finding proper HSN (Harmonized System of...
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  • Scrap Sales in GST
    The term “Scrap” has not been defined in GST Laws. In GST regime, in order to be taxable, the waste and scrap does not have to pass the test of manufacture or mechanical process or marketability. It is admittedly as ‘supply’ in course of business. While taxability of waste and scrap is no longer contentious, finding proper HSN (Harmonized System of...
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  • GSTR 3B is a monthly self-declaration form that a taxpayer is required to file on a monthly basis. Form GSTR 3b consists of summarized details of supplies made during the month along with the details of paid taxes, ITC claimed, purchases under reverse charge mechanism, etc. Furthermore, the taxpayer is also required to make provision for the payment of taxes, if any, for the relevant month.

    https://irisgst.com/form-gstr-3b-filing-made-simple/
    GSTR 3B is a monthly self-declaration form that a taxpayer is required to file on a monthly basis. Form GSTR 3b consists of summarized details of supplies made during the month along with the details of paid taxes, ITC claimed, purchases under reverse charge mechanism, etc. Furthermore, the taxpayer is also required to make provision for the payment of taxes, if any, for the relevant month. https://irisgst.com/form-gstr-3b-filing-made-simple/
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  • In order to simplify the taxation process and the cash flow, the GST returns have been segregated as per taxpayers’ registration and business types. These return forms are as follows will help you to understand different type of gst returns and its due dates.
    https://www.irisgst.com/types-of-return-forms-under-gst/
    In order to simplify the taxation process and the cash flow, the GST returns have been segregated as per taxpayers’ registration and business types. These return forms are as follows will help you to understand different type of gst returns and its due dates. https://www.irisgst.com/types-of-return-forms-under-gst/
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  • "#ThrowbackThursday
    #BasicsByIRIS
    Starting the clean slate with New Financial Year? Here is our series on basics of GST. CGST, SGST and IGST , the three pillars of GST Structure.
    https://www.irisgst.com/cgst-sgst-and-igst-the-three-pillars-of-goods-and-service-tax/
    "#ThrowbackThursday #BasicsByIRIS Starting the clean slate with New Financial Year? Here is our series on basics of GST. CGST, SGST and IGST , the three pillars of GST Structure. https://www.irisgst.com/cgst-sgst-and-igst-the-three-pillars-of-goods-and-service-tax/
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