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GSTR-2A and GSTR-2B  play a critical role in how businesses track and claim Input Tax Credit under GST. While both are auto-generated statements, they serve very different purposes in ITC planning and compliance. GSTR-2A reflects live supplier data and keeps changing, whereas GSTR-2B provides a fixed monthly snapshot of eligible and ineligible ITC. Understanding how these two statements work together helps businesses reduce mismatches, stay within Rule 36(4) limits, and avoid

The  QRMP scheme under GST  allows eligible taxpayers to file returns quarterly while paying taxes monthly using Form GST PMT-06, making GST filing  more flexible for small and medium businesses. This system reduces compliance pressure and improves cash flow by avoiding large quarter-end payments. PMT-06 acts as a single challan for depositing GST liability during the first two months of a quarter, with final adjustment in GSTR-3B. When handled correctly, it offers predictabi

GST compliance for logistics companies and transporters in India hinges on one critical choice: who pays the tax. Under the Goods Transport Agency framework, GST can apply through forward charge or reverse charge, depending on the transporter’s option and the recipient’s profile. With major changes effective from July 2025, including wider adoption of forward charge and revised GTA rates, transport businesses face tighter compliance expectations around GST filing. Understandi

The GST Reverse Charge Mechanism shifts the responsibility of paying GST from the supplier to the recipient for specific goods, services, and transactions notified under the law. This mechanism is designed to ensure tax compliance in sectors where supplier-side enforcement is difficult, including unregistered vendors, legal services, transport services, and certain e-commerce transactions. Incorrect identification or delayed payment of RCM liabilities during GST filing can le

Missing e-verification after filing an income tax return or ignoring an income tax notice can quietly turn a valid return into a rejected one. In many cases, refunds get blocked, demands appear years later, or adjustment notices under Section 245 reduce current refunds without warning. These issues often arise not due to tax evasion, but because of delayed actions, system mismatches, or lack of clarity on portal responses. Understanding what happens after a missed e-verificat

When an income tax notice arrives, the next step determines how quickly the issue gets resolved. A wrong response can delay refunds, increase tax demands, or trigger unnecessary litigation. Rectification, revised return, and appeal may look similar, but each serves a very specific purpose under the Income Tax Act. The correct choice depends on the nature of the error, the stage of assessment, and the section under which the notice is issued. Platforms like TaxBuddy analyse th

Business income and GST turnover are often confused, but tax authorities treat them very differently. Business income reflects net profit after expenses, while GST returns report gross turnover from supplies. When GST-reported turnover is higher than income declared in the ITR, automated systems flag the mismatch. This frequently leads to income tax notices alleging underreported turnover. With increased data sharing between GST and Income Tax departments, such discrepancies

GST return filing does not pause when business activity slows down. Seasonal businesses in India, including festival traders and agriculture-linked sellers, are required to file GST returns even during months with zero sales. These filings are treated as nil returns and are mandatory under the GST law to keep registrations active and penalty-free. Missing filings can trigger late fees, block input tax credit, and even suspend GSTINs. Managing compliance during off-season mont

When a business’s GST turnover falls below the prescribed threshold, many assume that GST compliance can be stopped immediately. This assumption often leads to filing gaps, GSTIN suspension, and complications during future growth phases. GST law does not automatically cancel registration when turnover drops, and non-filing of returns can trigger notices, penalties, and loss of compliance continuity. Understanding why GST return filing still matters below the threshold helps b

The e-Proceedings tab on the income tax portal enables taxpayers to respond to notices online without visiting the tax office. It centralises all assessments, scrutiny notices, questionnaires, and communication from the Assessing Officer, allowing timely and organised submissions directly through the portal. The system helps reduce delays, ensures documentation accuracy, and offers a transparent view of pending actions. TaxBuddy enhances this process by guiding users through