KnowyourGST-Blog on Indian Tax and Accountign Laws

GST return status changed from filed to submitted and had to pay late filing fee

Is GST technical team or Business Analyst team capable of understanding issues and fixing them on time? Yesterday was a shocking day, last month I filed return for a client for October month (GSTR-3B), however when he was filing his November mont…

by Pulkit Sharma 21/12/2017 under GST

Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana or SSY is a scheme targeted towards saving money for welfare of girl child. I will advice every parent to open an account for their girl child. We live in a society where people spend more on girls marriage than her s…

by Pulkit Sharma 19/12/2017 under Investment

Tuition fee and child education allowance exemption under section 10 and 80C

It is better to plan your income tax liability in advance. If you are in employment you can plan your income for maximum tax benefits. One of the main expenditure that you can claim as a deduction is tuition fee you pay for your children. You …

by Gst Payer 05/11/2017 under Income-Tax

Partnership firm registration and guide on partnership firms in India

Registration of a partnership firm is not compulsory. A partnership between 2 or more people is an arrangement where they agree on an object and are bound by agreed terms while performing their duties to achieve a common goal. Partnership can be …

by Pulkit Sharma 05/11/2017 under Legal

GST Services - Payment Create Challan - Mobile Number is invalid error

GST Services - Payment Create Challan - Mobile Number is invalid error Several dealers are complain that while generating the Chalan, there is an error shows up 'MOBILE NUMBER IS INVALID" To overcome this issue , the dealer have to…

by Shijoy James 26/10/2017 under GST

GSTR 3B - Save GSTR 3B error for July 2017 return

GSTR 3B - Save GSTR 3B error for July 2017 return Some dealers are complaining that they are experiencing an error message while clicking the button SAVE GSTR 3B. This issue can be solved by following methods First go the INTEREST AND LATE …

by Shijoy James 26/10/2017 under GST

Invoice uploaded but GSTR 1 not submitted by the Supplier

Some common software glitches are yet to find a solution by GSTIN 1. GSTR 2 - Invoice uploaded by the Supplier. But the supplier failed to submit GSTR 1 In such cases the receipient should add those invoices , which have been displayed in GSTR…

by Shijoy James 26/10/2017 under GST

Income Tax calculator and slab rates for FY 2017-18 (AY 2018-19)

INCOME TAX CALCULATOR FOR FY 2017-18 (AY 2018-19) INCOME FOR THE YEAR Deductions (LIC, PPF, etc...) NET - TAXABLE INCOME TAX ON…

by Pulkit Sharma 22/10/2017 under Income-Tax

Late fee on delay in GST return filing

If you missed to file your GST returns on time, you will have to pay late filing fee. Government started charging late filing fee from August 2017 itself. In this post I will share with you a calculator to estimate the late filing fee you have to p…

by Pulkit Sharma 22/10/2017 under GST

Billing software for Indian startups

Your startup need a billing solution. Billing is not an overhead but main activity of any business. Having a good billing software helps you efficiently manage your business. Whether to buy a paid or use free billing software? As a startup, yo…

by Pulkit Sharma 17/10/2017 under KYG-Invoicing

Opinion on not taxing petroleum products under GST

GST – One Nation One Tax – is an initiative by the Government to eliminate various indirect taxes and incorporate all of them into one, thereby reducing the tax complexity. But five products viz petroleum crude, high-speed diesel, motor …

by Swati Kharkia 10/10/2017 under GST

Professionals classified listing to search legal and tax experts in India

KnowYourGST.com has become a big website within a short span of time. The site receive around half a million visitors every month and website is highly targeted towards practical solutions on various tax laws. The site was launched to help tax pa…

by Pulkit Sharma 08/10/2017 under General

A complete guide on VAT in United Arab Emirates (Dubai)

VAT is proposed to be implemented in UAE from January 2018. We in India have vast experience of handling indirect taxes. We had all possible indirect taxes, may it be taxes on services (service tax), taxes on manufacturing (Excise) or taxes on tr…

by Pulkit Sharma 08/10/2017 under General

Notification No. 37 /2017 – Central Tax export with LUT without payment of GST

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)] Government of India Ministry of Finance (Department of Revenue ) [Central Board of Excise and Customs] Notification No. 37 /2017 – Central…

by Gst Payer 06/10/2017 under GST

How to use offline utility for filing GSTR-1 return on GST portal

GSTN has released the offline utility to file form GSTR-1. GSTR-1 is the form to upload details of your outward supplies. It is a return which needs to filed every month and due date is 10th of next month. For example, for the month of Septemb…

by Pulkit Sharma 07/08/2017 under GST