Tag: GST compliance India
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Difference Between GSTR-1 and GSTR-3B: Complete Comparison for GST Compliance in India
Understanding the difference between GSTR-1 and GSTR-3B is one of the most critical requirements for GST-registered taxpayers in India. These two GST returns serve completely different purposes, yet both are mandatory and interlinked. Incorrect understanding or mismatched reporting between GSTR-1 and GSTR-3B often leads to notices, interest, penalties, and blockage of Input Tax Credit (ITC).…
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What Is GSTR-3B and How to File It: Complete Guide with Practical Examples for Accurate GST Compliance
GSTR-3B is one of the most important GST return forms filed monthly or quarterly by businesses in India. It summarizes outward supplies, inward supplies, input tax credit (ITC), and tax liability for a given period. Every GST-registered business must file GSTR-3B to stay compliant, avoid penalties, and maintain accurate tax records. This comprehensive blog explains…
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GST Return Filing Basics for Beginners – Step-by-Step Guide, Types of Returns, and Common Mistakes to Avoid
The Goods and Services Tax (GST) system has revolutionized India’s indirect tax structure since its launch in July 2017, merging multiple taxes like VAT, Excise, and Service Tax into one unified framework. Every business registered under GST must file GST returns to report their sales, purchases, and tax liabilities to the government. According to the…
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ITC Reversal Under GST: Complete Guide to 22 September 2025 Changes
Introduction – What’s Changing from 22 September 2025 The Goods and Services Tax (GST) framework in India is undergoing a major compliance change. From 22 September 2025, businesses supplying goods that become exempt must reverse the Input Tax Credit (ITC) they previously claimed on unsold stock.This rule, known as the ITC reversal under GST, is…
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Government Mandates Monthly Monitoring of Price Changes in 54 Essential Items After GST Rate Reduction
The Indian Finance Ministry has issued a directive to Central GST (CGST) field officers to closely monitor price changes for 54 commonly used essential items following the implementation of new GST rates. Effective from 22 September 2025, this initiative is aimed at ensuring that the benefits of GST rate cuts are passed on to consumers,…