Maheswari's blog

When to issue Credit Note under GST
A person supplying goods or services should issue a credit note in the following scenarios:

We know that registration under GST is perpetual and does not require any renewal. However, there are scenarios when a person’s registration can be cancelled by an assessing officer. Let us understand the scenarios of GST registration cancellation.
 

Scenarios of GST registration cancellation by an officer

The business has been discontinued or transferred fully, or amalgamated with another entity, demerged or disposed of

There is a change in the constitution of the business

A registered person has failed to comply with the GST provisions

As part of migration from the previous tax regime to GST, all taxpayers registered in the previous tax regime were auto-migrated to GST. This was irrespective of whether the taxpayers are liable to register under GST or not. Taxpayers who were auto-migrated and given a provisional GST registration but who are not liable to register under GST can now cancel their provisional GST registration. In this blog, let us understand how to cancel provisional registration under GST.
 
There can be two categories of persons wanting to cancel their provisional GST registration:

Supply of goods or services is the taxable event under GST. In our blog on supply under GST, we have learnt about the activities which are considered as supply under GST. In this blog, let us understand the activities which are not supply under GST and hence, not taxable under GST.
 

Under GST, transport of goods should be accompanied by a ‘Tax Invoice’ or ‘Bill of Supply’. When a registered dealer supplies taxable goods, Tax Invoice should be issued and when the dealer supplies exempted goods, Bill of Supply is to be issued. A composition tax payer should issue a Bill of Supply for all supplies.
 
However, there can be scenarios when a person cannot issue a Tax Invoice or Bill of Supply for a supply. The scenarios of transport of goods without invoice are:

What is GST ITC-04?
GST ITC-04 has to be furnished by registered manufacturers, showing details of inputs or capital goods dispatched or received from a job worker in a quarter.
The details of the following 4 types of transactions need to be furnished in GST ITC-04:

An inconvenient situation awaits business owners and tax consultants after filing GSTR-2 returns. The number of invoices that get reconciled in the invoice matching process can vary from single digit to any number of digits depending on the nature and size of business. Some purchase invoices might have been added, some rejected, some modified or some kept pending for reconciling in the next round of filing.
How does the business owner ensure that his books reflect the same data as exactly as it appears in the updated GSTR-2 which is filed in the GSTN portal?

GSTR-1 filing related activities have recently completed and the filing process of GSTR-2 is ongoing. The last date for filing GSTR-2 has been revised to Nov. 30 2017 by the government.
GSTR-2 filing using Tally.ERP 9 Release 6.2 can be done easily, quickly and correctly.
 
If you are a business owner, then probably one of your biggest worry is whether you’ll be able to claim all your rightful Input Tax Credit? You want to ensure that your GSTR-2 return does not get rejected in the GSTN portal.