SAG Infotech: Need Tax Software (Call 0141-4072000)

As we approach the end of the 2024-25 financial year, businesses must execute several critical tasks to ensure adherence to Goods and Services Tax (GST) regulations and facilitate a seamless transition into the upcoming fiscal period.   This post will address crucial aspects of GST reconciliations among return filings, obligations related to GST on outward supplies, the reverse charge mechanism, and other compliance obligations.  GST Reconciliations B/W Return Forms  A comparison between the data of outward supplies in books and the GST returns (books, GSTR-1, and GSTR-3B) can help recognise possible changes to the GST returns. Turnover and taxes should also be included in this differentiation.  The differences can be identified by making a settlement between the documented rates in books and the reported rates in GSTR-1, counting tax ledgers, and 3B for the reverse charge mechanism (RCM).  Recommended: Do Not Buy GST Software If These Features Are Not Ava...

An influential move has been taken by the Goods and Services Tax Network (GSTN) to ease the GST registration processes, introducing a new verification procedure for applicants from Uttar Pradesh (U.P.). GST registration applicants under the advisory on 16 March 2025, may now be identified on the GST portal using data analysis and risk parameters, mandating them to complete biometric-based Aadhaar authentication. They shall be required to furnish a photograph and present the original copies of documents uploaded with the application. Date of Implementation and Processing GSTN has made the new functionality and has started in Uttar Pradesh from 15th March 2025. The same feature introduces document verification and an appointment booking system for the petitioner determined for biometric authentication. Steps in the Revised Authentication Process  An applicant on submitting Form GST REG-01 will get an email that has either- A link for the OTP-based Aadhaar Authentication, permit...