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Deep dives and practical guides written by the WFYI team.
Comprehensive explanations, FAQs, and updates about GST regulations, returns, and compliance.
This guide provides a comprehensive overview of how to use the offline utility for filing Form GST ITC-01. It details the steps for downloading and installing the Excel-based tool, preparing the declaration, generating the JSON file, and successfully uploading it to the GST portal. Additionally, the article explains the process for downloading and rectifying errors identified during the online submission, ensuring a smooth filing experience for newly registered taxpayers claiming Input Tax Credit.
This article explains the bulk generation facility for e-invoices on Invoice Registration Portals (IRPs), designed to simplify the process for businesses with high invoice volumes. It covers recent regulatory updates impacting e-invoicing mandates and reporting deadlines. The guide details the prerequisites, various JSON generation formats (A, B, C, D), and a step-by-step procedure for uploading e-invoice JSON files to generate Invoice Reference Numbers (IRNs).
The 43rd GST Council meeting, held on May 28, 2021, addressed critical tax policy matters, including relief measures for the COVID-19 pandemic and compliance extensions. Key decisions involved maintaining the 5% GST on vaccines, granting exemptions for imported COVID relief items, and introducing an amnesty scheme for small taxpayers. The Council also discussed potential GST rate rationalization for certain items and the ongoing challenges of the inverted tax structure, while deferring further discussions on compensation cess funding.
This guide details how to use the GST e-invoice preparing and printing (GePP) tool, an Excel-based utility for taxpayers without an ERP system. It outlines the step-by-step process for generating and printing Invoice Reference Numbers (IRNs) from the Invoice Registration Portal (IRP). Key prerequisites and procedures for initial setup, including updating supplier, recipient, and product details, are covered. The article also describes the e-invoice generation process, encompassing category selection, e-way bill details, JSON file creation, and IRN import for printing.
On March 24, 2020, the Indian government announced a comprehensive package of relief measures across income tax, GST, customs, financial services, corporate affairs, IBC, commerce, and fisheries sectors. These initiatives, prompted by the COVID-19 pandemic and nationwide lockdown, aimed to ease compliance burdens and provide financial flexibility for businesses and individuals. Key extensions included revised deadlines for tax filings, reduced interest rates on delayed payments, and moratoriums on late fees for various corporate submissions. The government also adapted regulations to support MSMEs and ensure essential services continued during the crisis.
This guide provides a comprehensive overview of the process for appealing GST registration orders in India. It details the steps for filing an appeal on the GST portal, including how to respond to notices from appellate authorities. Additionally, the article explains the procedure for requesting a rectification of an appeal order due to errors or omissions, ensuring taxpayers can effectively navigate the appeal system.
The 41st GST Council meeting, held virtually on August 27, 2020, addressed the critical issue of compensating states for revenue shortfalls during FY 2020-21. Chaired by Union Finance Minister Nirmala Sitharaman, the council presented two borrowing options to states to cover the significant deficit, partly attributed to COVID-19. Discussions also touched upon the readiness for e-invoicing and ongoing debates regarding compensation cess extensions.
This article provides a comprehensive guide on how to update registered mobile numbers and email IDs on the official GST portal in India. It details two distinct procedures: one for situations where the authorized signatory is also a partner or promoter, and another for cases involving different or multiple authorized signatories. The steps outline the navigation, data entry, OTP verification, and final submission processes required for a successful update, including details on using DSC, E-signature, or EVC.
The implementation of Goods and Services Tax (GST) in India necessitated significant changes to the nation's Constitution. This involved inserting, amending, and deleting various articles to define taxing powers, revenue sharing, and the establishment of the GST Council. These amendments also addressed specific exclusions for certain products and outlined compensation mechanisms for states transitioning to the new tax regime.
This article outlines the importance and applicability of a GST non-enrollment declaration, a document provided by suppliers who are not registered under GST for various reasons like low turnover or exempt supplies. It details why recipients seek this declaration, primarily for input tax credit and TDS/TCS applicability, and provides an illustrative format for such a declaration. Recent updates regarding GST registration processes are also included, highlighting key changes and deadline extensions.
This article details the comprehensive process for changing the authorized signatory on the GST portal. It explains the distinction between core and non-core amendments, outlining which registration fields require official approval and which can be updated automatically. Additionally, it specifies fields that cannot be altered via an amendment application and lists the categories of persons eligible to file such applications. The guide provides a clear, step-by-step procedure for adding a new signatory, updating primary signatory status, and verifying details through the GST portal.
Taxpayers commonly face JSON errors when filing their GSTR-9C annual reconciliation statements. This article provides a comprehensive guide to identifying and resolving various JSON errors that can occur during both the generation and upload of GSTR-9C files on the GST portal. It also offers solutions for specific issues like 'sign is invalid' errors and outlines essential prerequisites and best practices to prevent such problems, ensuring a smoother filing process.