efiletax

🚨 Prioritizing maximum refunds might give short-term relief, but could cause long-term headaches. Accurate filing may feel like short-term pain, but it guarantees long-term peace of mind. 🧾 Choose wisely, taxpayers! 🌟

Vodafone Idea, a leading player in India’s telecom sector, is facing new challenges. Nine different GST offices have issued demand notices totaling Rs 73 crore, including penalties and interest. Read more : https://lnkd.in/gQ7w3aCa #GST #GSTfiling #efiletax #India #Finance #services #ITR #Connect

🚀 New GST Feature Alert! Starting Oct 1st, manage invoice corrections with the Invoice Management System (IMS). Accept, reject, or keep invoices pending—only accepted ones count towards GSTR-2B. Ensure accurate ITC claims and smoother compliance.

🚀 Introducing the New Invoice Management System (IMS) for GST Compliance! 🚀 Starting October 1st, the GST portal is getting a major upgrade. Say hello to the IMS, a game-changer that lets you manage invoice corrections directly with your suppliers. 🌐 🔍 What’s New? IMS is here to revolutionize how you handle invoices. With this new feature, you can accept, reject, or keep invoices pending. Only the accepted invoices will count toward your GSTR-2B, ensuring your Input Tax Credit (ITC) is spot on! ✅ 💡 Why Choose IMS? Keep your records accurate and hassle-free! IMS allows you to: Accept invoices to include in GSTR-2B Reject invoices if they're incorrect Keep Pending for review later No more guesswork in your ITC calculations. 🎯 🖥️ How Does It Work? When your supplier saves an invoice in GSTR-1, IFF, or 1A, it automatically shows up on your IMS dashboard. You decide what to do next: Accept it? Great, it goes to GSTR-2B. 👍 Reject it? No problem, it won't count. 👎 Leave it Pending? Review it later. If you take no action, it’s deemed accepted and moves straight to GSTR-2B. 📂 🔄 What About Invoice Amendments? If a supplier amends an invoice before filing GSTR-1, the amended invoice will replace the original in IMS. Even if you've already taken action on the original, the latest version takes priority. No outdated info to worry about! 🔄 📅 Key Dates to Remember Action Window: You can manage invoices up until you file GSTR-3B. Cut-off Date: Any action taken after the 14th of the month (when draft GSTR-2B is generated) requires a recomputation of GSTR-2B. Stay proactive to avoid last-minute rushes! 🕒 📈 Benefits of Using IMS Accurate ITC Claims: Ensure only genuine invoices contribute to your ITC. Reduced Errors: Minimize discrepancies and improve compliance. Streamlined Process: Simplifies your GST filing experience. With IMS, compliance just got easier and more reliable for everyone! 🌟

Receiving a Section 74 GST notice can be intimidating. However, you can challenge it. Here's a quick guide to help you contest the notice and safeguard your interests effectively. Read more : https://lnkd.in/gzJbpZtu #GST #GSTfiling #efiletax #tax #India #Finance #services #Connect #icai

In August 2024, India’s GST collections demonstrated significant economic activity, with a robust 10% year-on-year increase. The collections reached approximately ₹1.75 lakh crore (US$ 20.98 billion) https://lnkd.in/gBqSTxg3

The Central Board of Direct Taxes (CBDT) has launched the e-Dispute Resolution Scheme (e-DRS) 2022. This initiative aims to streamline tax dispute resolution and reduce litigation. Read more : https://lnkd.in/gT3hADqd #tax #India #Finance #services #incometax #icai #filing #ITR #Connect