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Accurate GST filing depends on clean data, consistent records, and timely reconciliation. Even small discrepancies between GSTR-1, GSTR-3B , and GSTR-2B can lead to scrutiny, ITC reversals, or interest demands. Businesses often receive notices due to supplier-side errors, mismatched invoices, unreported outward supplies, or incorrect tax payments. Automated platforms reduce these risks by removing manual guesswork. TaxBuddy brings structured checks into the filing process, e

Late GST filing triggers daily late fees and interest that continue to accumulate until the return and tax payment are completed. The law sets fixed rates for GSTR-1, GSTR-3B, and GSTR-9, which can quickly become significant for businesses with regular outward supplies. Even NIL filers are not exempt from penalties, and delays also affect input tax credit flow for buyers. Automated GST platforms such as TaxBuddy minimise these risks by ensuring timely filing and accurate rep

GSTR-9 and GSTR-9C form the backbone of year-end GST compliance, bringing together the full record of outward supplies, inward supplies, ITC claims, and audited financial data for the financial year. These annual returns help businesses confirm whether their monthly and quarterly filings match the books, preventing mismatches that may trigger notices. As FY 2024–25 closes, accurate reconciliation becomes essential for avoiding penalties and ensuring transparent reporting. Ma

GSTR-1 and GSTR-3B sit at the heart of GST compliance, and both returns must mirror each other for accurate tax reporting. GSTR-1 captures outward supplies in detail, while GSTR-3B presents a monthly summary of tax liabilities and eligible input tax credit. When these two returns fall out of sync, automated notices, mismatches in ITC flow, and potential penalties begin to surface. Businesses rely on timely reconciliation to ensure that sales data, tax liability, and ITC clai

GST registration in India follows a structured online process where businesses submit identity details, business proofs, and verification documents to receive a GSTIN. Approval generally takes around seven working days when information is accurate and authentication is completed without discrepancies. Delays usually occur due to mismatched documents or incomplete submissions. Platforms like TaxBuddy simplify this journey by organising documents, preventing filing errors, an

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

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

High-value property purchases frequently trigger income tax notices because these transactions appear in the Annual Information Statement (AIS) and compliance portal. When the reported value crosses preset thresholds—often around ₹30 lakh or more—the system automatically checks whether the declared income supports such an investment. If the records don’t align, the department requests clarification on the source of funds. The purpose isn’t to penalise but to ensure the payme

Income tax notices often arise from mismatches in AIS, discrepancies in Form 26AS, missing income details, or verification issues linked to PAN. Quick and accurate responses are crucial because the department allocates strict timelines—usually between 7 and 30 days—to avoid penalties or further scrutiny. A structured approach helps ensure the reply is complete, legally sound, and backed with proper documentation. TaxBuddy’s Notice Management Service supports this process by d

A Section 156 Demand Notice informs a taxpayer that the Income Tax Department has detected unpaid tax, interest, penalty, or fee based on an order passed under the Income Tax Act. It specifies the exact amount owed and typically requires payment within 30 days. Quick verification is crucial, as errors in TDS credits, return data, or processing can create incorrect demands. TaxBuddy assists by matching the notice with Form 26AS , AIS, and filed returns, helping identify mismat