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Small retailers in India face unique GST challenges due to low-ticket, high-volume transactions. Managing hundreds or thousands of daily sales generates extensive invoices, complicates Input Tax Credit reconciliation, and increases the risk of filing errors. Recent updates in GST regulations, including simplified QRMP schemes and e-invoicing for small transactions under ₹5,000, aim to ease compliance, but manual management remains cumbersome. TaxBuddy provides a mobile-first

Professionals in India, including doctors, lawyers, accountants, and consultants, must register for GST once their annual aggregate turnover exceeds ₹20 lakhs, or ₹10 lakhs in special category states. Crossing this threshold triggers mandatory compliance under the CGST Act, including filing  GSTR-1  and GSTR-3B  returns. Accurate turnover calculation, timely registration, and adherence to GST migration procedures are critical to avoid penalties and interest. TaxBuddy  streaml

Annual GST reconciliation ensures that a taxpayer’s books of accounts align precisely with GST returns, a critical compliance requirement under Indian GST law. Filing GSTR-9 (annual return) and GSTR-9C (reconciliation statement) demands meticulous matching of turnover, tax payments, and Input Tax Credit (ITC). Taxpayers with turnover exceeding Rs. 2 crore must file GSTR-9, while those above Rs. 5 crore also require GSTR-9C. Recent notifications have introduced exemptions and

Understanding whether to file a   GST Nil Return or a Regular Return is crucial for every registered taxpayer. Nil Returns are required when no business activity or taxable transactions occur during a filing period, while Regular Returns report actual sales, purchases, and tax liabilities. Incorrect filing can lead to penalties, compliance issues, or even registration complications. Platforms like TaxBuddy  analyse GSTIN data, transaction history, and portal auto-population t

GST compliance for service providers in India has become more structured but significantly more data-driven in 2025. Agencies, chartered accountants, and consultants now face clearer tax rates and thresholds, alongside tighter scrutiny through analytics, cross-linking with income tax data, and stricter return matching. Errors in invoicing, ITC claims, or return reconciliation can quickly lead to notices and blocked credits. In this environment, managing GST is no longer a per

Delayed GST return filing  leads to automatic late fees and interest under the CGST Act, 2017, increasing the total tax outgo even for short delays. Late fees apply per day based on return type and turnover, while interest is calculated daily on unpaid tax at prescribed rates. With GST rates and penalties remaining unchanged in 2025, accurate estimation has become essential to avoid surprises during filing. A reliable GST late fee and interest calculator helps businesses unde

Input Tax Credit  gets blocked not because of fraud, but because of small compliance gaps that quietly compound over time. Mismatches between GSTR-1, GSTR-3B , and GSTR-2B, missed invoices, late filings, and incorrect classifications now trigger automatic disallowance under stricter GST controls. With invoice-level scrutiny, IMS acceptance rules, and system-driven notices rising in 2025, ITC is no longer forgiving. Early detection has become essential to protect working capit

GSTR-3B  is the most critical GST return because it determines the actual tax paid to the government. Errors in ITC claims, liability reporting, or set-off orders can lead to interest, penalties, and blocked credits. With frequent rule updates, auto-populated data from GSTR-1 and GSTR-2B, and strict filing timelines, manual calculations often create compliance gaps. Automated platforms like TaxBuddy  bridge this gap by pulling real-time GST data, applying statutory set-off ru

Section 131 inquiry notices are issued when tax authorities require deeper verification of income, bank transactions, or financial disclosures using powers similar to a civil court. These notices allow officers to summon individuals, demand documents, examine records, and conduct hearings to uncover potential discrepancies or unexplained funds. Clear understanding of the notice, timely documentation, and structured responses play a crucial role in preventing penalties, prose

F&O trading losses often trigger income tax notices when they are not reported correctly or fail to match broker data reflected in AIS. Futures and options losses are treated as non-speculative business losses and must be disclosed under the correct ITR form to retain set-off and carry-forward benefits. Missing this step can lead to automated scrutiny, demand notices, or loss of future tax relief. Accurate reporting, supported by broker statements and reconciled figures, is c