Credit and Finance for MSMEs: The fraudulent Input Tax Credit (ITC) claims have been on the rise, especially with the uncovering of many fake firms which were set up to issue fake invoices. This may ...

GSTN will soon enforce system-level blocking if ITC reclaimed or RCM ITC exceeds ledger balances. Key takeaway: taxpayers must reconcile ledgers to avoid filing ...

Starting July 2025, the GSTN will make the GSTR-3B form non-editable to enhance consistency and reduce revenue leakages. Taxpayers must use GSTR-1A to amend outward supplies before filing GSTR-3B.

In its first meeting under new Finance Minister Nirmala Sitharaman, the GST Council has extended the deadline for filing annual returns by two months. The all-powerful council decided to extend the ...

A regular business usually needs to file three returns – GSTR-1 and GSTR-3B monthly and GSTR-9 annually. GSTR-1 is a monthly statement of outward supplies to be furnished by taxpayers for supplying ...

GSTR-3B Due Date Extension News: A group of chartered accountants has urged the Centre to implement a GSTR-3B returns deadline extension for September 2025, citing a clash of the due date with Diwali.

In a significant compliance shift under the Goods and Services Tax regime, the GST Network (GSTN) on Saturday announced that the monthly GST payment form GSTR-3B will become non-editable from the July ...