GSTN will soon enforce system-level blocking if ITC reclaimed or RCM ITC exceeds ledger balances. Key takeaway: taxpayers must reconcile ledgers to avoid filing ...
The court found a prima facie overlap between excess ITC due to non-reconciliation and ITC disallowed under Section 16(4), ...
https://www.thehindubusinessline.com/economy/businesses-have-3-weeks-to-avail-itc-correct-compliances-in-gst-returns-for-fy24/article68851931.ece Copy Businesses have ...
"Currently, suppliers file GSTR-1, which auto-populates their GSTR-3B and also feeds into the buyers' GSTR-2B. If suppliers make an error or want to adjust their tax ...
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GSTR-3B filing to tighten: GSTN to lock monthly tax form from July 2025, changes allowed only via GSTR-1A
In a significant compliance shift under the Goods and Services Tax regime, the GST Network (GSTN) on Saturday announced that the monthly GST payment form GSTR-3B will become non-editable from the July ...
When the financial year closes, many businesses make bulk purchases in March to optimise their GST outflow, but experts warn that this strategy can backfire. CA Nitin Kaushik explains that input tax ...
The Bombay Chartered Accountant Society (BCAS) has urged the Union Finance Ministry to extend the due date for filing GSTR-3B returns for September 2025, citing its clash with the Diwali festive ...
https://www.thehindubusinessline.com/economy/gst-itc-fraud-cases-surged-41-amount-detected-jumped-28-in-apr-jan-over-full-fy24/article69333517.ece Copy Total number ...
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