Articles by Neethi V. Kannanth

Reversal of ITC under GST

Posted by Neethi V. Kannanth 25 July 2022 13484 Views

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.

Amended GST Rates applicable from 18th July 2022

Posted by Neethi V. Kannanth 21 July 2022 73196 Views

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

How to Import Masters and Vouchers to Tally?

Posted by Neethi V. Kannanth 14 July 2022 14741 Views

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.

How to Export Masters and Vouchers from Tally?

Posted by Neethi V. Kannanth 12 July 2022 13088 Views

You can export masters created in a company, in different formats. You can also choose the type of masters to export.

All about Form GSTR-9C

Posted by Neethi V. Kannanth 07 July 2022 6211 Views

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.

Timeline of GST

Posted by Neethi V. Kannanth 01 July 2022 9066 Views

GST is not merely a tax reform but a milestone in realising Sardar Vallabhbhai Patel's dream of building 'Ek Bharat - Sreshtha Bharat'.

Procedure for Filing Form GSTR 9

Posted by Neethi V. Kannanth 29 June 2022 9233 Views

GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST.

All about GSTR 3B

Posted by Neethi V. Kannanth 28 June 2022 11100 Views

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.

Procedure for obtaining Refund under GST

Posted by Neethi V. Kannanth 24 June 2022 8434 Views

The refunds under GST can arise in the following circumstances- The cash balance in the electronic cash ledger deposited in excess or Tax paid by mistake or The...