Category: GST
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New Changes in GSTR-1 Filing & HSN Code Selection
In April and May 2025, the GST Network (GSTN) rolled out several critical updates to the GSTR-1 filing system. These changes focus on stricter HSN code validation, dropdown-based code selection,…
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GST Late Fee in September 2025: Update
Table of Contents 1. Introduction Timely filing of GST returns is one of the most important compliance requirements for businesses in India. Many small businesses delay filing due to cash…
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Professional Tax Mandatory for all GST Registered Businesses – New Amendment
Introduction In a significant compliance shift, Professional Tax (PT) registration is now mandatory for all GST-registered businesses, regardless of turnover or employee count. This rule, already implemented in states like…
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Rental Advances & Rental Deposits in India
A Chartered Accountant’s Practical Guide (FY 2025-26 edition) Why this matters: Almost every lease—whether for a modest home or a marquee office floor—starts with an “advance” or “deposit”. The tax,…
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Missed Filing GSTR‑1 or GSTR‑3B? New ₹10,000 Fine Rule from July 2025 Explained
1. What’s Changing in July 2025? Starting from the July 2025 return period (i.e., returns due in August 2025), the Government has notified a uniform late fee cap of ₹10,000…
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Wrongly Rejected Invoices on IMS? Here’s How to Reclaim Input Tax Credit
1. What is the Invoice Management System (IMS)? The Invoice Management System (IMS) was introduced by GSTN from 1 October 2024 to improve ITC matching between suppliers and recipients. It…
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Financial Credit Notes for Post-Supply Discounts under GST – Optimizing Commercial Arrangements without Triggering ITC Reversal
1. Why this topic matters Post-supply discounts are a staple of modern commerce—year-end volume rebates, price-protection credits, secondary or promotional discounts negotiated after the original sale, etc. Under the Goods…
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The 1 % Cash‑Payment Rule under GST (Rule 86B) – A 360° Guide for 2025
1 Backdrop – Why was Rule 86B born? Within three years of GST’s launch, the tax administration was battling an epidemic of fake‑invoice networks that generated paper credits with no underlying supply.…
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E-Way Bill 2.0 Launched: Dual Portal, Real-Time Sync & API Integration Explained
Table of Contents 1. Introduction to E-Way Bill 2.0 From 1 July 2025, the GST Network (GSTN) has officially launched the E-Way Bill 2.0 portal—a revamped system designed for enhanced…
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Compulsory GST RCM on Rent
Introduction In a significant move, the Goods and Services Tax (GST) regime has introduced compulsory Reverse Charge Mechanism (RCM) on renting of commercial property under certain conditions. As per Notification…
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