How to calculate aggregate turnover for GST registration
Calculating aggregate turnover for Goods and Services Tax (GST) registration is a crucial step for businesses in India. Aggregate turnover determines whether a business is required to register under GST and what type of registration is applicable. In this blog, we will explain how to calculate aggregate turnover for GST registration and the key considerations involved. Understanding Aggregate Turnover: Aggregate […]
Continue reading »Businesses with AATO of ₹10 Cr and above Must Report e-Invoices Within 30 Days
Starting from 1st April 2025, taxpayers with an AATO of 10 crores and above cannot report e-Invoices (Invoices/Credit Notes/Debit Notes) older than 30 days on IRP portals. An invoice dated 1st April 2025 must be reported no later than 30th April 2025. Let’s dive into the topic deeply. In a major step to enhance compliance and streamline the e-invoicing system […]
Continue reading »Key Income Tax Deadlines to Meet Before March 31, 2025: Avoid Penalties and Maximize Tax Savings
As the financial year 2024-25 comes to an end, taxpayers must complete several critical income tax-related tasks before March 31, 2025. Failing to meet these deadlines can result in penalties, interest charges, or disallowance of deductions, leading to unnecessary financial burdens. To help individuals and businesses stay compliant, here’s a comprehensive guide on the key tax obligations to fulfill before […]
Continue reading »Key GST Deadlines before March 31, 2025
As the financial year comes to an end, businesses and taxpayers must fulfill essential GST-related obligations before March 31, 2025. Missing these deadlines could result in penalties, interest charges, or the forfeiture of beneficial schemes. To help taxpayers stay compliant, here’s a detailed checklist of crucial actions that need to be completed on the GST portal before the deadline. 1. […]
Continue reading »Firms with Rs 250 crore turnover rush to register on TReDS as March 31 deadline nears
Companies with an annual turnover of ₹250 crore are actively registering on the Trade Receivables Discounting System (TReDS) platform to meet the MSME Ministry’s deadline of March 31, 2025. As per the government’s directive, all enterprises with a turnover exceeding ₹250 crore, along with Central Public Sector Enterprises (CPSEs) that procure goods and services from Micro, Small, and Medium Enterprises […]
Continue reading »Accounting services in Coimbatore
In today’s fast-paced business environment, accurate and timely accounting is essential for any company’s success. Whether you are a small start-up, a medium-sized enterprise, or a large corporation, accounting services are a critical aspect of your business operations. In Coimbatore, businesses are increasingly turning to professional accounting services in Coimbatore to streamline their financial processes, ensure compliance, and make informed […]
Continue reading »GSTR 9 annual return
The GSTR-9 annual return is a crucial compliance requirement under the Goods and Services Tax (GST) system in India. It is a consolidated document summarizing a taxpayer’s annual GST transactions. Filing GSTR-9 ensures transparency and helps reconcile the details filed in various GST returns throughout the financial year. Whether you’ve completed GST registration in Coimbatore, GST registration in Chennai, or […]
Continue reading »Time, Place and Value of Supply in GST
The Goods and Services Tax (GST) framework in India is built on three fundamental aspects: time, place, and value of supply. These concepts play a vital role in determining the applicability of GST, the state in which tax is to be paid, and the amount of tax to be levied. Businesses must grasp these principles to ensure compliance and avoid […]
Continue reading »Refunds in GST
The process for claiming a GST refund involves specific steps, including submitting required documents and declarations to the GST authorities. Taxpayers can claim refunds for various reasons, such as an excess cash balance in the electronic cash ledger, tax paid in error, or accumulated Input Tax Credit (ITC) that they couldn’t utilize due to zero-rated sales or an inverted tax […]
Continue reading »GST (GOODS AND SERVICES TAX) – Zero Rating of supplies
Under GST, zero-rated supply refers to goods or services that are exported out of India or supplied to a Special Economic Zone (SEZ) developer or an SEZ unit, where the goods or services are taxed at a rate of 0%. This concept is critical for promoting exports and operations in SEZs without the burden of tax. Key Features: Tax Rate: […]
Continue reading »What is SGST, CGST, IGST and UTGST?
Under GST, determining whether a supply is inter-state or intra-state is essential, as it dictates the applicable tax—Central GST (CGST), State GST (SGST), or Integrated GST (IGST). Proper classification ensures compliance, accurate tax calculation, and timely payment.Inter-State Supply: An inter-state supply of goods or services arises when the supplier’s location and the place of supply are in: Different states Additionally, […]
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