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The eligibility criteria for availing the loan is set by the lender and therefore, varies from bank to bank. Not just that, there are different eligibility criteria for the different schemes.
Reversal of ITC means reversal of ITC utilized earlier. By doing this, there will be an increase in the output tax liability and interest may also be required to be paid depending on when the ITC is reversed.
Several amendments have been proposed in the 47th GST Council Meeting.The government issued nine Central Tax (Rate) notifications starting from number 03/2022 to 11/2022 on 13th July 2022. These notifications provide details about the changes in GST rates and shall come into effect from 18th July 2022
To import masters into XYZ Company, you need to ensure that both the options Maintain stock categories and Maintain batch-wise details are enabled in XYZ Company before importing.
You can export masters created in a company, in different formats. You can also choose the type of masters to export.
Earlier, every registered person whose aggregate turnover during a financial exceeds Rs. 2 crore was required to get his accounts audited as specified under section 35 (5) of the CGST Act and was required to furnish a copy of audited annual accounts and a reconciliation statement, duly certified from GSTR-9C.
GST is not merely a tax reform but a milestone in realising Sardar Vallabhbhai Patel's dream of building 'Ek Bharat - Sreshtha Bharat'.
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST.
GSTR-3B is a self-declared summary GST return filed every month (quarterly for the QRMP scheme). Taxpayers need to report the summary figures of sales, ITC claimed, and net tax payable in GSTR-3B.
GSTR-1 is a monthly or quarterly return that should be filed by every registered GST taxpayer, except a few as given in further sections. It contains details of all outward supplies i.e sales.
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