Form CMP-08 in GST is an important quarterly form for those taxpayers who opted for the composition scheme. This scheme came into effect in the financial year 2019-2020 to simplify the tax filing process for micro and small businesses. Under this scheme, they have to declare turnover against which the tax liability is paid. If… Continue reading CMP-08 in GST: Due Date, Late Fees & How to File
GSTR-9A: A Detailed Guide for Composition Scheme Taxpayers
The 53rd GST council meeting announced taxpayers below annual turnover of Rs 2Cr to be exempted from GSTR-9A for FY 2023-24. Let’s take a quick walk through GSTR-9A meaning, its applicability, due date, turnover limit and more. What is GSTR-9A Annual Return? GSTR-9A has been discontinued for composition taxpayers for periods after FY 2018-19. Its… Continue reading GSTR-9A: A Detailed Guide for Composition Scheme Taxpayers
GSTR-7 Simplified: Filing Steps, Due Date & Late Fee
Compared to other GST returns, GSTR-7 is completely different. You have to deduct the TDS from the payment, keep a record of those deductions, and pay the return. Fortunately, it is not applicable to all taxpayers/businesses. This blog will make you understand everything you need to know about GSTR-7. GSTR-7 Meaning: What Exactly GSTR-7 Is? … Continue reading GSTR-7 Simplified: Filing Steps, Due Date & Late Fee
How to File GSTR-3B: A step-by-step Guide
GSTR-3B is a summary of sales, ITC claims, taxes paid, and refunds claimed. You can file GSTR-3B in two ways: through the GST portal or via a compliance service provider. Let’s take a quick look at how to file GSTR-3B using the GST Portal. How to File GSTR-3B through GST Portal? The GST portal serves… Continue reading How to File GSTR-3B: A step-by-step Guide
Composition Scheme in GST: Eligibility, Forms & Tax Rates
Composition is an alternative to regular tax collection methods, enabling micro and small businesses to start and thrive without worrying about compliance issues. In this blog, we have addressed all the basic questions related to the composition scheme in GST. What is Composition Scheme in GST The GST Composition Scheme is an alternative to the… Continue reading Composition Scheme in GST: Eligibility, Forms & Tax Rates
GSTR-1 Return: Meaning, Due Date & How to File With Munim
If you have just started your accountancy practices or if you are a business owner who does not know the first step toward staying GST-compliant, read this blog to understand GSTR-1 return filing, its meaning, late fees, the latest updates, and how to file GSTR-1 with Munim GST Return Filing Software. What is GSTR-1 & its… Continue reading GSTR-1 Return: Meaning, Due Date & How to File With Munim
Indian Government Embarks on a Unified System for PAN Services with PAN 2.0!
The cornerstone of Indian financial and administrative processes, the Permanent Account Number (PAN) promotes transparency and compliance in the Indian economic activities. Recently, PAN 2.0 news has buzzed into the market. This digital enabler initiative, PAN 2.0 is all set to mark a digital leap into taxpayer services. The Indian government has recently approved the… Continue reading Indian Government Embarks on a Unified System for PAN Services with PAN 2.0!
Easily Track GST Return Status for Multiple Companies with Munim
If you are a taxpayer and don’t know how to track GST return status, this is your complete guide. There are two ways you can check GST filing status. Here are the detailed methods to check your GST return filing status Why is it Important to Check GST Filing Status? What are the Types of… Continue reading Easily Track GST Return Status for Multiple Companies with Munim
GSTR-1 Amendment: Time Limit, Process & Limitations
Have you filed GSTR-1 with inaccurate invoice data? Are you looking forward to revising the GSTR-1 but don’t know how? Don’t worry—we are here to help. This blog will discuss the GSTR-1 amendment process, the time limit, how to select a return filing period and much more. How to Select Return Filing Period in GSTR-1… Continue reading GSTR-1 Amendment: Time Limit, Process & Limitations
Revised Invoice in GST: Best Practices for Compliance
Every business vertical under goods and service tax issues invoices. Revised invoice in GST has turned out to be a need of the era due to errors and mistakes that occur while issuing invoices. If mistakes occur, they need to be rectified, and invoices should be revised. Let’s scroll down to know in detail: What… Continue reading Revised Invoice in GST: Best Practices for Compliance