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gst on reverse charge

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How to Manage Advance Paid for Supplies Attracting Tax on Reverse Charge

We have discussed the scenarios in which reverse charge is applicable in our previous blog . In these scenarios, when recipients make advance payment for supplies on which they are liable to pay tax on reverse charge, they will also have to pay tax on such advance payments. Persons who were registered under Service Tax are familiar with the similar requirement in the Service Tax regime. In this blog, we will guide you on how to effectively treat advance paid for supplies on which tax is to be paid on reverse charge. Document to record when paying an advance under Reverse Charge On paying advance for an order on which you are liable to pay tax on reverse charge, a […]

By |2022-07-20T10:47:46+00:00August 4th, 2017|GST, gst advance paid, gst on advance paid, gst on reverse charge, gst reverse charge mechanism, gst supply on reverse charge, reverse charge gst, Tax|Comments Off on How to Manage Advance Paid for Supplies Attracting Tax on Reverse Charge

How to File Form GSTR-3B

The 17th GST Council meeting held on 18th June, 2017, provided a much needed relief to the businesses across the nation. Listening to the concerns raised by the various trade and industrial bodies, and to ensure the smooth roll out of GST, the council decided to extend the timeline for invoice-wise return filing in Form GSTR-1 and Form GSTR-2 for the first two months. For the first two months – July’17 and August’17, businesses need to file a simple return in Form GSTR-3B by declaring the summary of inward supplies and outward supplies. However, the invoice-wise details in Form GSTR-1 and Form GSTR-2 for July and August needs to be filed by 5th September and 20th August, 2017 respectively. Revised […]

By |2023-02-06T09:32:27+00:00July 26th, 2017|filling return, Form GSTR 3B, GST, gst input tax credit, gst on reverse charge, gst payment, GST Return Filing, GST Returns, gstr 3b, Tax, tax payment, tcs, tds|Comments Off on How to File Form GSTR-3B

When do you have to Pay Tax on Reverse Charge Basis?

Reverse charge is a concept we were familiar with, in the previous tax regime. To put it simply, under reverse charge, the liability to pay tax on a transaction to the Government is on the recipient. Under Service Tax, reverse charge was applicable in the case of specific notified services. Under VAT, in almost every state, on purchases from unregistered dealers, a registered person had to pay tax, on behalf of the unregistered seller. It was also applicable in the case of imports, where the importer had to pay import duties to the Government. Under GST also, reverse charge is applicable in these 3 scenarios: Supply of notified goods and services Imports Purchase from unregistered dealers Supply of notified goods […]

By |2022-10-18T07:50:20+00:00July 21st, 2017|GST, gst on reverse charge, gst reverse charge mechanism, gst supply on reverse charge, reverse charge, reverse charge gst|Comments Off on When do you have to Pay Tax on Reverse Charge Basis?

Have more questions? Check out our FAQs below.

PowerPacks FAQ

A PowerPack is a powerful widget built on top of the Tally platform. It adds value to your business by simplifying key, daily activities that may currently be done manually. A good example is Digital Signature – replace the need for physically signing (or even printing out!) By automatically inserting a digital signature on your entire Tally generated invoices. Saves you a ton of time, saves printing costs and also saves the environment since you print less!
Good Question! Our team is continually improving these PowerPacks. By adopting a subscription model, it allows our team to invest time to continually improve them. In addition, when the Tally platform is upgraded, your PowerPack will always work. Current offerings in the market sell you a ‘perpetual’ file and then charge you exorbitant upgrade fees when a new version comes out. We eliminate all of that and charge you a low fee. Think of it as sacrificing a couple of cups of coffees per year! Surely you can sacrifice 2 cups of coffee for improved productivity at work, right?
No problem! We understand that our customers’ needs evolve over time, and you may not need a certain PowerPack after a certain period of time. If you cancel within 7 days of purchasing the PowerPack, we will refund your money within 3 business days – no questions asked! If you’ve purchased an annual license, you can simply cancel your subscription and your license copy will lapse after your subscription period ends. No surprise charges. EVER!
Come on! You must be joking. Ok, you’re not. Well, the answer, surprisingly, is YES! If you purchase a PowerPack for the whole year, you can get it for only INR 999/year! That is a 15% discount or almost 2 months free 🙂 Happy now?

We’ve designed our PowerPacks to be self-serve and easy to install and use. We also provide you with a user manual and feature list with screenshots to get you started. But if you still have questions, drop us an email at [email protected] and we’ll help you out! If you need more hands-on support, just give us a call or drop an email.

Absolutely! We will continue to build the PowerPacks that serve our customers at an affordable price. We notify our customers when a new PowerPack is available. Meanwhile, if you need something very unique to your business, we have a top-notch development team that is eager to solve complex problems for businesses like yours. Fill out this form, we’ll get in touch with you!
Good question again! Other vendors may offer you a PowerPack (add-on/module) for a flat one-time fee. But what they don’t tell you is that anytime there is a release upgrade or newer version of Tally, the PowerPack will stop working. To get it to work again, you will need to pay the vendor more money. This cycle is never-ending! In addition, other vendors may not update their PowerPacks with additional features. If they do, they may charge you extra for the same. With Mark IT, your PowerPack will always work even if there is a release update. The subscription model also allows us to continually enhance our PowerPacks and pass on the benefits to our customers at no extra cost. Plus, you save a ton of money upfront which you can use for other business improvements!
You can choose between a number of payment types – NEFT, credit or debit card, UPI, EMI or any wallet (like PayTM, PhonePe etc.) Providing flexibility to our customers is important to us, so we ensure to continually add the latest payment methods.
We’re glad you want to! Simply add multiple PowerPacks to your cart and buy! In addition, if you wish to purchase additional PowerPacks for additional serial numbers, simply change the quantity to the appropriate number of serial numbers and you are set. Feel free to add any comments in the Notes section if there is something you need to tell us regarding your order. Trust us, we read every customer’s emails!
A PowerPack is compiled and attached to a single serial number. If you’d like to set up the PowerPack for multiple serial numbers, simply purchase additional PowerPacks for each of your serial numbers. Simple!

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