Tag: GST Returns

Simplify GST return filing with our detailed guide. Learn about the different GSTR forms, their purposes, and how to avoid penalties.

gstr 9c late fee waiver till march 2025

Big Relief for Taxpayers: CBIC Waives Late Fees for GSTR-9C

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The CBIC issued Circular No. 246/03/2025-GST on January 30, 2025, clarifying the late fees for delays in submitting the reconciliation statement in FORM GSTR-9C. The circular addresses stakeholder concerns about late fees under section 47 of the CGST Act, 2017. Download Updated GSTR-9C Format in Excel & PDF Key Points of the Circular: Conclusion: This […]

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traders vs. Manufacturers seprate registration

Traders vs. Manufacturers: Do You Need Separate GST Registrations?

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In India, Goods and Services Tax (GST) has simplified the tax structure for businesses, unifying various indirect taxes. However, there are specific provisions in GST that cater to different types of businesses, such as traders and manufacturers. These provisions ensure that businesses with distinct operations follow the most suitable tax regulations for their needs. One […]

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composition scheme for restaurant

How Small Businesses Can Benefit from the GST Composition Scheme

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The Goods and Services Tax (GST) has been a game-changer for businesses in India, simplifying the indirect tax structure and promoting compliance. Among its features, the Composition Scheme stands out as a beneficial option for small businesses, including restaurants and small traders, to ease their tax compliance burden. But how exactly does the Composition Scheme […]

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GST Invoice Wise Reporting Limit Reduced from 2.5 Lakh to 1 Lakh

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According to Notification No. 12/2024 – Central Tax, dated July 10, 2024, the Government has revised the threshold Limit for reporting invoice-wise details of inter-state taxable outward supplies made to unregistered dealers, lowering it from ₹2.5 lakh to ₹1 lakh. This information should be reported in Table 5 of Form GSTR-1 and Table 6 of […]

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