Study Hub: Indian tax & compliance, searchable in milliseconds.
Plain-language guides on GST, ITC, returns, RCM, e-invoice, e-way bill, TDS/TCS under the Income-tax Act 2025, due dates, Tally and petrol-bunk quirks. Every guide links to official sources. Built for CA students, articled assistants and firm teams.
GST basics: CGST, SGST/UTGST and IGST explained
How the dual GST works: which tax applies on intra-state vs inter-state supplies and why place of supply decides it.
GST registration: turnover thresholds and compulsory registration
When a business must register under GST: turnover thresholds (Section 22), cases needing registration regardless of turnover (Section 24), and how aggregate turnover is counted.
GST rate structure after the September 2025 rationalisation
The 56th GST Council moved most goods and services to a two-rate structure (5% and 18%) with a 40% de-merit rate, effective 22 September 2025, with tobacco-related exceptions.
Input Tax Credit: the conditions in Section 16
The conditions a registered person must meet to claim ITC: tax invoice, receipt, credit reflected in GSTR-2B, tax actually paid by supplier, and return filed.
ITC time limit: Section 16(4) and the 30 November rule
ITC for an invoice of a financial year cannot be taken after 30 November of the following year or the date of filing the annual return, whichever is earlier.
Blocked credits under Section 17(5): what you cannot claim
A plain-language list of common ITC blocks: motor vehicles (with exceptions), food and beverages, club memberships, works contracts for immovable property, personal use and more.
ITC reversal: Rule 37 (180-day payment) and Rule 37A (supplier did not pay)
When ITC must be reversed because the supplier was not paid within 180 days (Rule 37), or because the supplier did not file GSTR-3B by 30 September/30 November (Rule 37A), and how it is re-claimed.
GSTR-1 and IFF: what to report and when
GSTR-1 reports outward supplies: due on the 11th monthly, or the 13th after the quarter for QRMP filers who may use IFF for B2B invoices in the first two months.
GSTR-3B: due dates and the July 2025 hard-lock on auto-populated liability
GSTR-3B is the summary return for paying tax. From the July 2025 period, liability auto-populated from GSTR-1/1A/IFF cannot be edited in 3B, so corrections go through GSTR-1A.
GSTR-2B and the Invoice Management System (IMS)
GSTR-2B is the static ITC statement generated on the 14th. With IMS, recipients accept, reject or keep invoices pending before 2B is generated. No action means deemed accepted.
How to reconcile GSTR-2B with the purchase register (step by step)
A practical method to match 2B with books: prepare both sides, match on GSTIN + invoice number, bucket the differences, and act on each bucket.
Reverse Charge Mechanism (RCM): common cases for businesses
Under RCM the recipient pays the GST. Common entries include GTA (in specified cases), legal services by advocates, director services, sponsorship and certain rentals. Self-invoicing rules also apply.
E-invoicing: who must generate IRNs and the 30-day reporting rule
E-invoicing applies to B2B supplies and exports by businesses whose aggregate turnover in any year since 2017-18 exceeded ₹5 crore. From 1 April 2025, those with AATO of ₹10 crore+ must report within 30 days.
E-way bill basics: threshold, validity and Part A/Part B
An e-way bill is generally required to move goods where consignment value exceeds ₹50,000. Validity is typically one day per 200 km for normal cargo.
Composition scheme: eligibility, rates and returns
Composition lets small taxpayers pay tax at a flat rate on turnover with simpler returns (CMP-08 quarterly, GSTR-4 annually), but with no ITC and no tax collected from customers.
QRMP scheme: quarterly returns with monthly payment
Taxpayers with aggregate turnover up to ₹5 crore can file GSTR-1 and GSTR-3B quarterly while paying tax monthly through PMT-06.
GSTR-9 and GSTR-9C: annual return and reconciliation statement
GSTR-9 is the annual return due by 31 December. GSTR-9C is a self-certified reconciliation statement for larger taxpayers. Small taxpayers have been given optional filing by notification.
Three-year time bar: GST returns cannot be filed after 3 years
Returns under Sections 37, 39, 44 and 52 cannot be filed after three years from their due date. The portal enforces this from the July 2025 tax period.
HSN code reporting in invoices and GSTR-1 Table 12
Businesses with aggregate turnover up to ₹5 crore report 4-digit HSN (mandatory on B2B), and those above ₹5 crore report 6-digit HSN. The GSTR-1 HSN summary follows the same rule.
Credit notes and debit notes under Section 34
When credit and debit notes can be issued, the time limit for declaring credit notes, and how they affect GSTR-1/3B.
GST interest and late fees: basics
Interest on delayed tax payment is charged at 18% p.a. on the portion paid in cash. Late fees are per day of delay, with lower amounts for nil returns and turnover-based caps.
TDS and TCS under GST: Sections 51 and 52
Government bodies deduct GST TDS (2%) on contracts above ₹2.5 lakh and file GSTR-7. E-commerce operators collect TCS (0.5% from 10 July 2024) and file GSTR-8.
Income-tax Act, 2025: new TDS sections 392/393 and payment codes
From 1 April 2026 the Income-tax Act, 2025 replaced the 1961 Act. Salary TDS moved to Section 392, most other TDS to a consolidated Section 393 with payment codes, and TCS to Section 394.
Common TDS rates and thresholds for business payments (FY 2026-27)
A quick reference of the most-used business TDS categories (contractor, professional/technical fees, rent, commission, purchase of goods) with old and new section references.
TDS deposit, returns and certificates: due dates and new form numbers
Deposit TDS by the 7th of the next month (30 April for March). Quarterly statements are due 31 July, 31 October, 31 January and 31 May. From tax year 2026-27, 24Q/26Q/27Q/27EQ became Forms 138/140/144/143.
TCS on sale of goods (206C(1H)) removed from 1 April 2025
Budget 2025 omitted TCS on sale of goods under Section 206C(1H) from 1 April 2025, leaving TDS on purchase of goods (194Q) as the single mechanism.
Monthly GST & TDS compliance calendar (quick view)
The recurring monthly dates every accounts team should know: TDS deposit (7th), GSTR-7/8 (10th), GSTR-1 (11th), IFF (13th), GSTR-2B (14th), CMP-08 (18th, quarterly), GSTR-3B (20th), PMT-06 (25th).
Month-end readiness checklist for CA firms and accounts teams
A practical checklist to get client data in on time and close each month cleanly, so reviewers spend time on judgement rather than chasing documents.
Tally tip: importing vouchers and masters via XML in TallyPrime
How XML import works in TallyPrime, and the checks to do before importing vouchers prepared outside Tally (ledger names, GST details, dates).
Tally tip: setting up GST in party ledgers and stock items
Clean masters make clean returns: how to capture GSTIN, State, registration type and HSN/rate once in masters instead of fixing vouchers later.
Bank reconciliation: a reliable monthly method
A step-by-step BRS routine: match by amount/date/reference, clear timing differences, and investigate true differences, with tips for UPI and card settlements.
Petrol bunks & GST (1): fuel is outside GST, but the business is not
Petrol, diesel, ATF, natural gas and crude remain outside GST (Section 9(2)), so fuel sales bear VAT/excise. Lubricants, other goods and services at the outlet are taxable under GST.
Petrol bunks & GST (2): ITC apportionment under Rules 42 and 43
Because fuel sales are non-GST (treated as exempt for ITC), outlets must apportion ITC on common inputs, input services and capital goods between taxable and non-taxable turnover.
Petrol bunks: daily shift reconciliation that stops leakage
A practical daily routine: meter-based sales per nozzle, tank dip vs book stock, credit slips, UPI/card settlements and cash, reconciled every shift.