Goods and Service Tax

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QRMP Scheme under GST

Reading Time: 6 minutesQRMP Scheme under GST QRMP Scheme under GST, registered persons having Aggregate Annual Turnover up to 5Cr may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from 01.01.2021. This scheme of quarterly return filing along with monthly payment of taxes is referred to as “QRMP Scheme”. Eligibility
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Amazon gst

Reading Time: 2 minutesGST credit on Amazon, Amazon Business customers, and MSMEs, may claim GST credit for orders delivered across India with GST registration in only one state. Amazon Business facilitates its customers Through its ‘Bill to Ship to’ feature, customers who have GTIN registration for one or a few states but want to get their shipments delivered
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Margin Scheme in GST

Reading Time: 2 minutesMargin Scheme in GST Generally GST is charged on the transaction value of the goods. However, in respect of second hand goods, a person dealing in such goods may be allowed to pay tax on the margin i.e. the difference between the value at which the goods are supplied and the price at which the
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Difference between GSTR-2A & 2B

Reading Time: 2 minutesDifference between GSTR-2A & 2B, The GSTR-2A is a dynamic statement that gets updated whenever a taxpayer’s suppliers file their GST return of outward supplies. On the other side, the GSTR-2B is an static statement which contains the details of input tax credit only for a particular return period which never changes even when taxpayer’s
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Changes in Table 4

Reading Time: 2 minutesNotification No. 14/2022– Central Tax  dt 05.07.2022 enable taxpayers to accurately disclose information regarding ITC claimed, ITC reversed, and ineligible ITC in Table 4 of Form GSTR-3B, Above notified amendment in the GSTR 3B Table 4 have been added in GSTR-3B & are same changes are available on GST Portal with effect from Sept 01, 2022.
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Single Click NIL filing of GSTR-1

Reading Time: 2 minutesNIL filing of GSTR-1, In order to further simplify the return filing experience a single click NIL filing of GSTR-1 has been introduced on GST Portal. Taxpayers can now file NIL GSTR-1 return by simply ticking the check box File NIL GSTR-1 available at GSTR-1 dashboard. Eligibility to file NIL GSTR-1: Taxpayers may file NIL
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