January 30, 2024

Freight HSN Code/ SAC: Inward, Outward and Forwarding Charges 2024

The HSN code for freight charges is 9965 and GST rate is 18%. However, this is general categorization, and the SAC could is further subclassified based on the type of […]
December 11, 2023

SAC/HSN Code for Repair and Maintenance

HSN code for Repair and maintenance services is 9987 and GST rate for these services is 18%. However, this is general categorization, and it is further subclassified based on the […]
November 28, 2023

HSN Code for Construction Work with Material and Detailed Classification

In short, the HSN Code for construction work falls under the category of services and is designated as 9954. This code specifically covers services related to the construction, erection, commissioning, […]
August 7, 2023

What is GST Reconciliation? A Detailed Guide for 2024

Accurately filing GST returns is not only crucial for small businesses to avoid legal trouble, penalties, and fines but also plays an important role in maintaining their financial reputation and […]
June 26, 2023

Reverse Charge Mechanism (RCM) on GST with Journal Entry [2024]

As per Latest RCM Update: These resolutions will take effect upon notification released on 11 July 2023 by the Central Board of Indirect Taxes and Customs (CBIC). 50th Meeting of […]
June 23, 2023
GSTR 3B Late Fees

GSTR 3B Late Fees: Penalty, Due Date, and Interest

What is Late Fees for GSTR 3B? GSTR 3B late fees is a charge paid for a tax period after due date depend upon normal GSTR 3B returns and nil […]
April 27, 2023
gst billing software need

Why Does Your Business Need Proper GST Billing Software?

Since the Goods and Services Act was passed in 2017, businesses throughout the nation have been making sure that they remain compliant with the requirements of the GST Act. The […]
April 7, 2023
GSTR 3B & GSTR1

Reconciliation & Comparison between GSTR 3B and GSTR 1

For any business, the filing of GST forms is the key requirement that needs to be fulfilled to maintain its business. These forms are important for any business to continue […]
January 13, 2023

GST Impact on Businesses

The Goods and Services Tax (GST) is a comprehensive value-added tax system implemented in India in 2017, replacing the previous system of multiple taxes levied by the central and state […]
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