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Finalising Accounts in GST Era -III
Now since the Annual Return of GST is out and the date of Tax audit under Income tax is approaching we will present our final post regarding finalisation of accounts in GST Era.We had already explained in detail the intricacies of finalisation of books in Post GST era that would be the first 9
Annual Return under GST Form GSTR 9
Finally the format for GSTR 9 and 9A has been released vide notification no 39/2018 dtd 04/09/2018 by the GST department In this post we will try to explain each and every column required to be filed in the form. The form 9 has been divided into 6 parts starting from Part I to Part
GST Reconciliation Issues
Recently GST department has issued lots of notices wherein the main reason behind was the mismatch of ITC claimed from that available.These notices left the assessees perplexed and will certainly land most of them in trouble in near future .In this post we will try to analyse the reason behind such notices,how to avoid them
Audit under GST
Under GST there are three types of Audit wherein an audit of books of accounts involve thorough checking of books of accounts and their related documents which involves but is not limited to invoices, bank statements ,third party verifications as well a) Mandatory Audit: this involves the Audit by CA or ICWA depending upon the
Offences and Penalties under GST
Any Law has three components compliance requirement , effect of non compliance, ways and means to get the compliance done First part is the law itself which says such and such needs to be done Second Part says if such thing is not done then this will be the effect .this effect is in form
KYC of Directors
As a part of compliance and information drive to stop the misuse of a persons documents and identity by paper companies as has been done in past MCA has asked for all Directors whose DIN was in “Approved” status as on 31/03/2018 to get their KYC done as a one time exercise before 31/08/2018 by
Welcome Amendments in GST
Last week saw many amendments in the GST laws with a hint that more will follow as GST council was to meet on 22/07/2018 to propose many further amendments or tweaks major being rates relaxation in many items.We will update you about the tweaks as and when done.Right now let us look at the amendments
Modification in Aadhar and PAN
Aadhar Details Modification Modification in Aadhar can be done by two methods Online and Offline Online Correction: Visit Aadhar self service update portal Click Here Enter the Aadhar to be updated Enter CAPTCHA There are two options OTP or TOTP For TOTP click here If you select OTP a code is send to the registered
E Way Bill Insight
E-way bill is an instrument which ensure that delivery of goods is being trailed via the system.It ensures non intrusive checks which were delaying the delivery of goods as for example each carrier which passes through any check post was checked and kept on hold for petty reasons in past but in new system since
Finalising accounts in GST Era -II
We had already discussed the modalities of finalisation of accounts in pre-GST period from 01/04/2017 to 30/06/2017 .Now since the remaining part of the Financial Year 2017-18 will deal with the remaining 9 months hence now we will discuss the details for that period. a)Opening Balances: Since we had already prepared the balance sheet as