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Tax Stories

This Page has been created for the purpose of sharing the knowledge base of AMBICON about tax and company related matters with business man and common general people .

Remain updated about tax related issues and matters with AMBICON

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False Vs. Missing Input - GST

Input Credit remains to be one of the most discussed parameter of GST right from it’s inception. The issue is quite sensitive as well since it is directly linked to cost and profitability of the business of any taxpayers. In other word, the only attractive aspect of GST to the taxpayer is the coverage of its input tax credit part which was not available in any other taxation system previously.

Steps and Process to file Annual GST Return – GSTR 9

GSTR 9 is a new GST Return Process which is getting filed now for the first time for the FY 2017-18. This is totally different from other monthly and quarterly GST Return systems and therefore requires proper knowledge and updates for filling  

In our article we have described the process of filling GSTR 9 on a step by step basis which makes it easy for any taxpayer to file the same. This will also be helpful for tax consultants who are filling tax return for their clients particularly SME clients

Let us now see the process of filling GSTR 9

Sahaj GST Return System

GST Authorities have introduced a new category of GST Return called SAHAJ. This will be applicable from 01.01.2020

Let us now understand how far “SAHAJ” (easy) is this return for filling in this article in a simple manner

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New GST Return System

Many of you may know that the GST System will be undergoing a change from 01.01.2019. It has already been announced in 35th. GST Council Meeting

The basic details of these changes has been discussed in our article which will give a clarity on this new return system

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Annual GST Return

This year for the first time the Tax payers will have to file Annual GST Return for their respective categories. This is another mandatory GST Return which all Tax payers need to file and the process and details of the same is also different.

Let us now understand Filling process of Annual GST Return in a easy way

Invoicing in New GST Return System

The core component or basis of GST return filling is invoicing from the day one. The calculation of GST on either side (Liability or Input) is based on raised invoices only.  In the proposed new return filling system, to be introduced from 01.01.2019, the importance of maintaining proper  Invoices has been envisaged and at the same time several dimensional changes in the system of invoicing has been introduced which tax payers must know for ensuring smooth filling of GST Return

Let us now understand, the changes introduced in Invoicing system of GST in simple words 

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