Startagist

There has been a notable increase in the number of GST registered taxpayers. The government has made a collection of whooping 10.12 Lakh Crores in the FY 2020-21 amidst the pandemic situation in India. However, there has also been many fraudulent cases reported for incorrect claiming of Input Tax Credit under...

GSTR-3B is an essential monthly return that every registered taxpayer has to file monthly or quarterly. GSTR-3B should be submitted by all those businesses liable to file the monthly returns of GSTR-1 or GSTR-3. Taxpayers can easily file their GSTR-3B online through the GSTN portal. This short article...

Now is the high time for small & medium businesses to be ready for the e-Invoicing system. With the aggregate turnover coming down to 50 Cr. the number of taxpayers under the e-Invoicing system has increased drastically. The government intends to bring this aggregate turnover bar much lower so that it could engage more...

Indirect tax revenue leakage has always been a headache for the government since the inception of GST. Fake invoice generation and then claiming ineligible ITC has been a serious issue and thus causing loss of revenue to the Government. Thus, claiming Input Tax Credit in a proper way is necessary to...

The Government has mandated the e-Invoice generation under GST system for a large group of businesses. The introduction of e-Invoicing has been a successful implementation in the GST structure as it has helped in benefiting the taxpayers in multiple ways. e-Invoicing shall apply to all the B2B transactions & documents like...