Step by Step Guide for Filing GST TRAN-2 Form Online

Prequisite: TRAN-2 can be filed only if TRAN-1 and GSTR-3B of the relevant tax period is filed.

Step- 1 Navigate to the TRAN-2 page of the desired tax period after logging in, Select < Financial Year> and < Month> Continue reading

Posted in GST |

Finding the Right Buyer For A Business

Selling a business is not just a usual transaction, it requires a very formal and concrete approach when it comes to selecting the most qualified buyer for the business. After all, the business is an outcome of years of collective efforts and endless hard work. A buyer cannot be anyone and has to be the best of the lot, in fact the perfect fit. The buyer who settles at the maximum value is not always the perfect fit. Yes, it’s true and this is not amusing at all. There are various sentiments attached with fixing the right value. However, the value of a business depends upon the negotiation abilities of both the buyer and seller in a transaction. Continue reading

Posted in Regulatory |

Advisory for Taxpayers Filing of Quarterly Returns FORM GSTR-1

Taxpayers opting for quarterly filing of return will have to select the last month of the quarter from the drop down menu. However, for the month of July 2017, GSTR-1 has to be filed separately by all taxpayers, as option to file quarterly returns is applicable for returns from August 2017 onwards. Continue reading

Posted in GST |

Five-star approach to a robust & easy to understand valuation model

As complexity of valuation models increase, it becomes difficult to understand not only by the user, but many times by its creator too. The aim of this article is to provide a five point approach that will help new entrants of business valuation shift the burden of organizing from their brains to the excel sheet. Continue reading

Posted in Regulatory |

Government asks exporters to file Table 6A of GSTR-1 correctly for quick refunds

Government issues clarification on delay in grant of refunds pertaining to IGST paid on exported goods and similarly ITC on exports. According to Govt., errors by exporters while filing their returns such as incorrect shipping bill number in GSTR-1, mismatch of invoice number and IGST amount paid, and wrong bank account are the main reasons for delay in grant of refunds, or rejection thereof. Continue reading

Posted in GST |