KnowyourGST-Blog on Indian Tax and Accountign Laws

Best free billing software in India

If you are looking for a free billing software your search ends here. Today I will explain you why KnowyourGST claims it's invoicing application to be best in market. KnowyourGST invoicing application is not only best among free billing …

by Pulkit Sharma 23/02/2018 under GST

Compliance checklist for startups

If you are founder of a startup company and worried about different laws you have to comply with, this article is worth bookmarking. Running a startup is energy consuming work and it makes sense to not waste money on government penalties. Ev…

by Pulkit Sharma 29/01/2018 under Startups

How to apply for transporter ID by a transporter under GST?

If you are a transporter and already registered under GST then you do not have to apply separately for a transporter id. However if you are not registered under GST, then you have to apply for transporter id. In this article you will learn, ho…

by Pulkit Sharma 29/01/2018 under GST

WHAT IS AN E-WAY BILL UNDER GST AND HOW TO GENERATE AN E WAY BILL - Video tutorial

WHAT IS AN E-WAY BILL UNDER GST An E-WAY bill is a mandatory transport document for the transportation of Goods under GST regime. It will be a compulsory document for both Interstate and Intrastate transport for consignments with VALUE EXCE…

by Shijoy James 23/01/2018 under GST

GST Registration Online

GST (Goods and Services Tax) registration can be done online in very simple steps. You can hire a consultant who can do this job for you, or you can do it yourself. Almost every service that can be completed online, is made easier and similar …

by Pulkit Sharma 22/01/2018 under GST

Cryptocurrencies and Tax - A guide on taxation on Bitcoins in India

Cryptocurrencies are future or are they just a bubble waiting to burst? It does not matter, many have made huge gains by investing in cryptos. Bitcoin is most talked about digital currency and there is reason for it. Over the years Bitcoin…

by Pulkit Sharma 19/01/2018 under Income-Tax

Filling offline GSTR1 is a nightmare

Filing GSTR1 thru offline utility is a nightmare. This is a curse on filers like CAs. When you download the utility and run the exe file, many a times the installation hangs. It is just 36mb files but for only reasons known to God…it ta…

by Navin Gadidala 11/01/2018 under GST

Become a super hero - Help people understand complex tax laws

Do you know people hardly ask anyone on phone or personally their doubts, instead they search on internet. If you are not on internet then you will be missing lot of opportunities. Whether you are applying for a job or starting your own profes…

by Pulkit Sharma 09/01/2018 under General

Cash limits and penalties under Income Tax Act

Many people have question about maximum cash they can give or accept without facing any problem under Income Tax Act. People have lot of doubts on one can accept cash and give cash whether in form of loan, advance, deposit or against a business t…

by Pulkit Sharma 07/01/2018 under Income-Tax

Late filing fee and penalty on delay in filing Income Tax return

Late filing fee is going to be a reality now under Income tax. Until now even if you filed your return late, there was no mandatory late filing fee levied on your delay filing of returns. However this has changed from assessment year 2018-1…

by Pulkit Sharma 06/01/2018 under Income-Tax

How to calculate income tax on house rent?

If you own a house and given it on rent, you will have to calculate income tax on it and pay your taxes. You cannot claim any expenses against rent received for any repair or maintenance done by you. However government do give a standard deductio…

by Pulkit Sharma 05/01/2018 under Income-Tax

How to file income tax return for salaried employee using ITR-1

Filing income tax return for a salaried person is very simple. If you are earning only from employment and do not have any other source of income except interest on saving bank accounts, you need not to hire any consultant for filing your income …

by Pulkit Sharma 04/01/2018 under Income-Tax

Input Tax Credit in GST - Checklist

Having an expense invoice is not enough to claim input tax credit under GST. Expense tax invoice is only one requirement. To get the benefits of claiming ITC on purchases you need to have proper documents and also make sure your supplier is compl…

by Pulkit Sharma 02/01/2018 under GST

Learn and understand E-way Bill rules and applicability under GST

Every person who makes an outward supply for goods having value more than 50,000 or makes an inward supply for goods having value more than Rs. 50,000 from an unregistered person has to issue an E-way bill. Chapter XVI of CGST rules lay down the …

by Pulkit Sharma 29/12/2017 under GST

ITC-04 for manufacturers to file details of inputs and capital goods sent and received for Job Work

Every manufacturer who sends goods to his job worker, needs to send goods with a challan. Details of all such challans issued during a quarter needs to be filed using form ITC-04 before 25th day of month succeeding last quarter. For example, ITC-…

by Pulkit Sharma 26/12/2017 under GST