One stop for everything related to taxes,
Our Blogs

Online GST return filing in India requires accurate reporting of sales, purchases, and tax liabilities through returns such as GSTR-1, GSTR-3B, and GSTR-9. The process demands precision because the GST portal directly cross-verifies taxpayer data with income tax systems, bank statements, and vendor filings. Errors like mismatched turnover, incorrect HSN/SAC codes, or inconsistency between GST and ITR data often lead to notices or delayed processing. TaxBuddy supports busines

The GST system makes no exception for months with no business activity. Registered taxpayers must file nil returns for GSTR-1 and GSTR-3B even when outward supplies, inward supplies, and ITC remain at zero. This requirement keeps the GSTIN active, prevents penalty accumulation, and ensures smooth compliance when operations resume. With increasing automation on the GST portal and stricter enforcement of deadlines, timely nil filing has become essential for every business, rega

Choosing between monthly and quarterly GST filing affects compliance workload, cash flow, and Input Tax Credit timelines. Monthly filing suits businesses with higher turnover or frequent transactions that demand real-time reporting, while quarterly filing under the QRMP scheme benefits smaller taxpayers seeking reduced administrative effort. The right choice depends on turnover, transaction volume, and reporting needs. GST rules outline separate due dates, ITC patterns, and e

A GST return is a mandatory electronic statement used to report sales, purchases, output tax, and input tax credit under India’s Goods and Services Tax system. Small businesses must file these returns accurately and on time to avoid penalties and maintain smooth compliance. Each return type serves a specific purpose, from outward supplies to monthly summaries, making GST filing a detailed process for business owners. With frequent updates in GST rules and reconciliation chall

Introduction The tobacco industry in India is still one of the largest in the world, boasting over 275 million users, even with the serious health risks involved. To help reduce consumption, the government has slapped hefty taxes on tobacco products. The recent 56th GST Council meeting held in New Delhi on September 3, 2025, reinforced this policy. In this article, we’ll dive into the GST on cigarettes, the tax rates for tobacco products, and the additional duties and cess t

Introduction For any taxpayer, GST payments and refunds are essential as they involve money. The GST law outlines the procedures for filing forms and returns to request GST refunds and using challans to make GST payments. Depending on the net GST liability, GST payment is required when filing a GSTR-3B . At the same time, taxpayers can claim refunds later if they are eligible for them. Therefore, it is critical to be aware of both concepts to stay ahead of compliance and clai

Introduction In India, GST on health insurance has long been a cost factor for policyholders. An 18% GST on health insurance premiums increased the cost of policies, whether they were for individuals, families, or older citizens. However, major improvements to lower the cost of health insurance were introduced at the 56th GST Council meeting in September 2025. This article examines how GST affects health insurance rates as well as the major adjustments made in the most recen

Introduction The geographic area associated with a company's GST registration is indicated by the first two digits of a GSTIN number. Identifying your state code is essential in all situations, regardless of whether you are processing returns, creating many invoices in a given month, or wishing to register for GST. The GST State Code aids taxpayers in navigating India's complicated GST jurisdiction. The State or UT where you have got GST registration and are operating can be

Introduction The goods and services tax (GST), which was implemented in 2017, streamlined and harmonised India's whole indirect taxation system. All products and services, including bikes, are subject to GST, with a few exceptions. The 56th GST Council Meeting took place on September 3, 2025. This meeting, which took place in New Delhi, had a significant agenda. To support the government's goal of long-term growth, India's GST rates must be revised. The different GST rates

Introduction These days, washing machines are a household necessity rather than a luxury. However, are you aware of how buying or selling washing machines is impacted by the Goods and Services Tax (GST)? Knowing the item's GST rates and HSN codes is essential, whether you're going to purchase new equipment or operate a business employing it. The taxing process has been made simpler by the implementation of GST, although the specifics can still be a little confusing. Buyers m