If GST Returns are not filed within time, you will be liable to pay interest and a late fee. Interest is 18% per annum. It has to be calculated…
Dwike TeamSeptember 30, 2017
ITC claimed by the person has to match with the details specified by his supplier in his GST return. In case of any mismatch, the supplier and recipient would be…
Dwike TeamSeptember 30, 2017
ITC can be claimed only for business purposes. ITC will not be available on goods or services exclusively used for: • Personal use • Exempt supplies • Supplies for which…
Dwike TeamSeptember 30, 2017
Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs and pay the balance amount. Here’s how- When…
Dwike TeamSeptember 30, 2017
A bill of supply is similar to a GST invoice except that bill of supply does not contain any tax amount as the seller cannot charge GST to the buyer.…
Dwike TeamSeptember 30, 2017
A tax invoice is generally issued to charge the tax and pass on the input tax credit. A GST Invoice must have the following mandatory fields: 1. Invoice number and…
Dwike TeamSeptember 30, 2017
Whether you are running a small business or an enterprise, Purchase Orders are a crucial part of accounting. If you wonder why you need it for small business, here is…
Dwike TeamSeptember 30, 2017
Today, most online invoicing and accounting software products support only English even they are in cloud and we are in 21st Century. Some features may have terminologies that would be…
Dwike TeamSeptember 30, 2017
India’s move with GST began on midnight of June 30th stated with 1 tax 1 nation 1 market. GST will not just consolidate the nation under one tax, but also…
Dwike TeamSeptember 30, 2017
