Input Tax Credit GST

GST ITC Reversal Rule 42 & 43 Explained with Practical Examples (Complete Guide)

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GST ITC Rule 42 & 43 explained with practical examples for ITC reversal under GST

GST ITC Rule 42 & 43 explain how Input Tax Credit must be reversed when inputs, services, or capital goods are used for exempt supplies, non-business purposes, or mixed usage under GST. While paying GST to the Government, businesses are allowed to adjust the tax paid on purchases—such as raw materials, services, or capital goods—against … Read more

Confused Between GSTR-1 and GSTR-3B? Differences Explained with Real Examples

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GSTR-1 vs GSTR-3B difference explained with real examples

GSTR-1 vs GSTR-3B difference is one of the most common areas of confusion among GST taxpayers in India. GSTR-1 vs GSTR-3B difference is one of the most common areas of confusion among GST taxpayers in India. A large number of GST-registered taxpayers, especially small businesses and first-time filers, struggle to understand why they have to … Read more