Where TECH Meets TAX
Embrace Automation & Stay Compliant
Stay Up-to-Date On GST and Tax Technology
GET READY FOR E-INVOICING WITH CYGNET E-INVOICE APPLICATION
Timely GST Compliance For All Businesses
End-To-End Solutions to Stay Compliant
An award winning solution for GST returns preparation, validation and returns filing. The solution offers intuitive dashboard with multiple reports/stats followed by auto validation of GSTN in invoices.
Solution for generating and managing e-way bills for organizations and transporters.Integrate your ERP with our E-way bill solution for a real time E-way bill number generation and synchronize it back with your ERP.
The solution automates & digitize GSTR-9 tax return preparation. It auto populates various fields based on previous returns filed. Make the necessary changes as per Auditor’s recommendations.
Powerful solution that reconciles vendor invoices for accurate ITC claims and smooth payment processing. The solution provides 2 way reconciliation based on expense register and govt. portal.
CHECK YOUR GST RETURNS COMPLIANCE SCORE
GRC Score is a rating calculated based on the returns filing trends of a company. A high score indicates timely compliance. A low score might indicate cashflow or working capital management issues. The score can be used by Banks for loan assessment, managing loan portfolio and by corporates for vendor assessment.
We Make Technology Work For Everyone
Multiple tax dates? Hundreds of forms? Get enterprise-grade tax solutions and prevent your accounts department from going crazy.
Sales tax is not easy, even at smaller scale. Transition to smarter accounts with Cygnet GSP solutions designed just for SMEs and reconcile with taxes.
Cygnet GSP solutions can be your virtual tax assistant to manage multiple clients, file returns and store data under single user account.
Join the thriving taxation consultancy business! Set up your own business with Cygnet GST Suvidha Kendra (GSK) with all GST-related services.
With Your Choice Of Implementation
3 More Reasons Why You Should Choose Cygnet GSP
Cygnet GSP integrates and automates all your tax calculations, filings and returns, as per latest GST norms within a matter of few minutes. Here are a few more reasons to choose us!
We could tell you more, but a video says it better
Check Out Our Success Stories
The Case Study is about a large retail brand who was running SAP and faced challenges at multiple levels while filing GST. By automating the process, we brought a smile on the faces of their tax team. Know More…
Stay Up-to-Date On Tax Technology
The Government issued the following Notifications on 15th October 2020 to give effect to the announcements and decisions of the
India had its first experience with Anti Profiteering provisions when GST came into play in 2017. The idea behind introducing
The 43rd one-agenda, GST Council meeting was held on 12th October 2020. The meeting was chaired by the Union Finance
The 42nd GST Council Meeting was held in New Delhi on 5th October 2020. The meeting was chaired by the
GST law seeks to ensure the accurate transfer of input tax credit (ITC) between the states and the parties in
Section 206C (1H) -: TCS on Sale of Goods According to Section 206C (1H), Seller of goods is required to
Job work is a vertical of the business wherein a principal manufacturer can send inputs or semi-finished goods to a
The Government had provided an extension of the time limit to furnish Annual Return in Form 9 & 9C for
Amidst a lot of speculation, the Government has decided to go ahead with the E-Invoicing implementation for certain specified persons.
While the ultimate burden of an indirect tax is to be borne by the consumer, under the Central Goods and
Electronic Commerce or E-commerce is a business transaction wherein the selling and purchasing happen over an electronic platform or the
The 41st GST Council Meeting chaired by Union Finance & Corporate Minister Smt. Nirmala Sitaraman was held on 27th August
Exports are incredibly important to modern economies because they offer businesses many more markets for their goods. One of the
GST known to be One Tax – One Nation is a combination of Integrated GST, Central GST, State GST, and
GST is levied on any taxable outward supplies by a person. The complete responsibility of calculation, chargeability, and payment of
Sigmund Freud, the father of psychoanalysis once said “History is just new people making old mistakes”. While it can be
Government has notified e-invoicing schema (FORM GST INV-1) and the applicable threshold for the mandatory generation of e-invoices. The details
Background A common sight these days is people carrying small handy bottles of sanitizers everywhere they go; the magic potion
Important changes which have been proposed in the GST returns in order to make it more user friendly and to
For any law to be effective, it is important that persons should comply with the legal requirements specified in the
The provisions of Income Tax Act, 1961 require every person making a payment to a Non-Resident or to a foreign
The concept of TDS and TCS is familiar under Direct Tax Laws. TDS is a mechanism for advanced collection of
COVID-19 continues to impact the Indian economy on a very large scale. Major businesses are yet to start their normal
Appeals under any law is an application to a higher court for a reversal of the decision of a lower
Inverted Duty Structure Deemed Export Penultimate Supply Provisional Refund Cases In Which Refund Claim Can Be Withheld Claim For Unutilized
Usually when the GST paid is more than the GST liability, a situation of claiming GST refund arises. Under GST,
To give effect to recommendations of the 40th GST Council meeting conducted in Delhi on 12th June, 2020, the government
The concept of Reverse Charge Mechanism was introduced in the erstwhile Service Tax laws. Generally, the tax mechanism follows a
Assessment in GST is mainly focused on self-assessment by the taxpayers themselves. Every taxpayer is required to self-assess the taxes
The 40th GST Council Meeting was conducted in Delhi on 12th June 2020 chaired by Union Finance & Corporate Minister
GST is one of the biggest reform in the tax regime, is considered as the most volatile tax law which
Vendor Portal Overview A vendor portal is a system that helps you manage and stay connected with your vendors in
Electronic Way Bill (E-Way Bill) is a compliance mechanism wherein by way of a digital interface the person causing the
Under the GST Regime, businesses are required to maintain various accounts and records for ready verification by an authorized GST
GST registration applies to all individuals and entities supplying goods or services in India. The Ministry of Finance has simplified
GST is a destination-based tax levied on supply. As per the charging section of GST (Section 9 of CGST Act),
A distinguishing factor of GST from the earlier Indirect Tax Regime is that GST is a Destination-based tax. This means
GST is required to be paid by the taxpayer on the basis of the time of supply of goods or
Job work is very lucrative and most commonly pursued business in the Indian Economy. This led to the requirement of
This article contains the special relief provided by the government to the taxpayers in view of the spread of Corona
The objective of the composition scheme is to bring simplicity and to reduce the compliance cost for the small taxpayers.
GST enables a seamless flow of Input Tax Credit (ITC) on all goods and services procured for providing outward supply
This article contains the understanding and implications of the notifications issued on 23rd March to give the effect of the council
The GST Council held its 39th Council Meeting on 14th March 2020 in New Delhi headed by the Union Finance
Presently the Indirect tax system in India is a multi-point tax system where tax is levied only on value addition.
The 39th GST Council Meeting was conducted in Delhi on 14th March 2020 chaired by our Finance Minister Nirmala Sitaraman.
In this article, we will discuss the returns required to be filled by various types of taxpayers under the GST
Making India Digital, a young yet dominant campaign of the Government is focusing on empowering the country digitally and improving
In this article, we will discuss the wave of developments in the GST regime proposed under new returns and as
Ever since E-invoicing was announced by the Govt. there have been a lot of discussions and confusion in the industry
Before entering in the Year 2020, automation was already the talk of tax town. In fact, approximately 112 countries across
According to a recent RBI Financial Stability Report, the gross non-performing asset ratio of banks may increase to 9.9 percent
GST’s 38th Council Meeting was held on 18th Dec 2019, Delhi was chaired by Honorable Finance Minister Nirmala Sitharaman. Other
*The information covered in our blog might change as per the new notifications from the government. You can drop an
The market is loaded with GST software providers. But how many have the capabilities of reducing your work and making
E-invoicing has been in discussions for a while. Several approaches were proposed by the GST council for feedback from the
GST (Goods & Service Tax) has been the biggest tax reform in India since the Independence of the country. There
The GST council recently announced the new return system for taxpayers in its 31st Council Meeting. In May 2019, they
An epic shift has already started in the Businesses Finance function. Taxation is transforming from paper-based to completely digital, right
For over five decades technological innovation has frisked an important role in driving transformation across multiple industries and everyone is
We are in the 21st century, where automation is something every industry or department demands to speed and ease the
The E-way bill system of generating an Electronic Waybill for every transport of goods of value more than Rs 50,000
Filing of the first GST Annual returns is long overdue and the industry is waiting to file its very first
What is it that a smart CFO would want when it comes to managing GST compliances? It would be everything
GST is already 2 years old and we have seen a major shift in the way taxes are filed in
Input Tax Credit – ITC, is a tax credit that can be claimed against the taxes paid on the inputs
GST has brought with it a system of invoicing that requires details of a sale or purchase transaction in a
GST has launched the new simplified return forms in the form of an offline utility for trial by taxpayers, which
GSTR 9C filing is a few weeks away with the due date to file Annual Returns postponed to 31st of
E-way bills under GST have replaced the traditional system of delivery challans as proof of transport of goods from one
The new GST simplified Return forms launched by the CBDT are of 3 types. Sahaj Return forms, Sugam Return forms
GST Audit is a mandatory thing for all those whose turnover crosses the threshold of 2 CR in a year.
GST celebrated its second birthday on 1 July, 2019 and we have more than one reason to cheer. The two
*The Govt. has come up with new E-invoicing mechanism, the below content was written earlier. Kindly refer to our new
What is GSTR 9C? GSTR 9C is a reconciliation statement between the GSTR-9, the Annual return of GST and the Audited
The market is full of GSPs that provide you with GST return filing solutions. However most of the solutions lack
GST regime has completed more than a year, and the journey has been eventful, with multiple changes made time and
GST is a system of taxation where taxpayers pay tax based on self-assessment and file the returns on their own
Annual Return filing has been the topic of discussion with the date of filing approaching fast. GSTR 9 – Annual
Goods and Services Tax, the biggest tax-related reform in the country was implemented to eliminate the cascading effects of taxes
The HSN Code (product coding system) and SAC (service coding system) pave way for a systematic GST scenario. The Harmonized
GST aims to bring about uniformity in the manner documents are prepared and circulated to make sure that they have
As per the GST requirements, transporters need to carry E-way bill with them while transporting goods in case of inter-state
GST is already 1.5. years old and there have been many challenges as well as changes in the law and
We now a days require a signature on every document with the world becoming a digital market place and especially
Inception GST, which replaced several indirect taxes including VAT, service tax, octroi, excise and more, is already a year and
When it is time to file ITC claims, businesses get busy making sure that the invoices they have filed on
We have already seen the possible reasons for mismatch in the purchase records and GSTR 2A forms. Here we will
GST reconciliation is a huge part of the GST returns and a major factor governing the ITC claims. Accuracy of
The key features and the new format of the GST returns were approved in the 28th GST council meeting on
GST is a destination based consumption tax which means that revenue will be accumulated from the state where goods/service is
For first time readers, a prologue to this story The GST Turmoil- To Ring IT or Not? FLASHBACK Mr. Kaul the
“Strength lies in the small business and they will feel more secure with GST. Consumer and small business will gain
GST has filled my schedules with meetings and more meetings! Day dragged along with discussions about updated tax slabs, analysis
GST – a planned system considered as One Hundred and First Amendment introduced by The Constitution aims at clubbing most
With GST roll-out just around the corner, tax-payer’s apprehensions are going off the roof. Complete digitization of GST and complex
Cygnet GSP, The Last Word on Tax Technology