Tag: GST compliance for small business

How to File NIL GST Return in 5 Minutes – A Step-by-Step Guide for Small Business Owners

Oct 30, 2025

—

by

Himanshu

in Finance and Accounting

Filing GST returns is mandatory for all registered taxpayers under the Goods and Services Tax (GST) regime in India, even if there are no transactions during a specific tax period. Many small business owners, freelancers, and inactive GST holders often need to file a NIL GST Return to stay compliant and avoid penalties. This article…
Step-by-Step Guide to GST Input Tax Credit (ITC) Reversal in Excel with Examples and Auto Calculation Sheet

Oct 28, 2025

—

by

Himanshu

in Excel Training, Finance and Accounting

In the GST regime, Input Tax Credit (ITC) plays a crucial role in reducing the cascading effect of taxes. Businesses can claim credit for the GST paid on purchases (inputs) and use it to offset their GST liability on sales (outputs). However, there are situations where a business needs to reverse the Input Tax Credit…