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What Happens If Invoice is Issued Late Under Section 13 of CGST Act?
Issuing invoices on time is not a formality in case of GST. It directly determines when the tax is to be paid. Section 13 of CGST Act deals with the…
gst billing software
Who is Liable to Pay Tax Under Forward Charge Mechanism in GST?
The knowledge of the tax-payer under GST is not only a legal requirement but also is a day-to-day survival reality for Indian businesses. One of the most popular and the…
Cascading Effect of Tax: Pre-GST vs Post-GST
Indian business worked for decades with a number of indirect taxes which added to cost silently at every stage of supply. The result of the Cascading Effect of Tax, tax…
Common Mistakes That Attract Penalties under GST
GST Compliance failures hardly occur by lack of intent. They occur because of missed checks, rushed filings or poor internal controls. The penalties under GST are made to be a…
How Can Inventory Ageing Improve Purchase Planning?
Purchase planning is unsuccessful where the businesses simply look at the amount of stock they possess, and not at the length of time of possession. The inventory ageing introduces a…
How Do Debit Notes Affect Purchases and Expenses?
Substandard accounts make regular purchases corrections of Indian business accounts. Price misgegenies, quantity contests, quality, and after sales amendments occur in trading, production and services. Due to the necessary control…
What is the Time Limit for Issuing Credit Notes Under GST?
Errors occur in actual business. Rates change and goods are returned. Invoices get revised. That is where Credit Notes form a important part under GST. They help in the businesses…
Major Aspects to Note While Calculating Aggregate Turnover in GST
Every decision related to eminent in GST compliance starts with understanding the Aggregate Turnover in GST. It decides whether a business should be registered or not, it will qualify for…
What is the Procedure Prescribed Under Section 61 of CGST Act?
GST Compliance does not end with the submission of returns. Tax authorities take an active interest in doing a data audit to check correctness and tax-discipline. The section 61 of…
How to Make Advance Tax Payment Online Step by Step?
Paying taxes on time is one of the responsibilities every earning Indian must know clearly. When the advance tax payment not fully covered under TDS then according to Income Tax…