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https://khatadekho.com/2023/11/15/advisory-for-online-compliance-pertaining-to-itc-mismatch-gst-drc-01c/

Advisory for Online Compliance Pertaining to ITC mismatch -GST DRC-01C - Khata Dekho This functionality compares the ITC declared in GSTR-3B/3BQ with the ITC available in GSTR-2B/2BQ for each return period

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Detailed Article : https://khatadekho.com/2023/11/06/gstammendment/

Important GST Last date for making any rectifications or modifications to these details is November 30th, following the end of the financial year to which the details pertain



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Don’t Miss the November 30th GST Deadline Detailed Article : https://khatadekho.com/2023/11/06/gstammendment/------------------------------------------------------------------------------------------...

Celebrate & Start your Business this Navratri with KhataDekho.com with FREE GST Rgistration.

The 52nd GST Council meeting was held today, October 7, 2023, in New Delhi, under the chairmanship of Union Finance Minister Nirmala Sitharaman. The following are the key outcomes of the meeting: New GST rates: The Council approved new GST rates for the following goods and services: Online food delivery: Increased from 5% to 7% Hotel accommodation up to Rs. 1,000 per night: Reduced from 18% to 12%...

52nd GST Council meeting update - Khata Dekho The 52nd GST Council meeting was held today, October 7, 2023, in New Delhi, under the chairmanship of Union Finance Minister Nirmala Sitharaman.

Case Details: Luminous Power Technologies (P.) Ltd. v. State Tax Officer, Adjudication-I - Judiciary and Counsel Details C. Saravanan, J. V. Prakash, Sr. Counsel & K. Krishnamoorthy for the Petitioner. V. Prashanth Kiran, Govt. Adv. for the Respondent. Facts of the Case The petitioner dispatched goods to consignee/buyer by four different invoices which were accompanied with e-way bills....

khatadekho.com Get ready we have something coming that is going to blow you away. Below is a sneak peek of what we offer. Check back often for our launch.

Circular No. SEBI/HO/AFD/AFD–PoD– 2/CIR/P/2023/148; Dated: 24.08.2023 SEBI has mandated the criteria for submission of additional disclosures by foreign portfolio investors under the FPIs norms. As per the criteria, details of all entities holding any ownership, economic interest, or exercising control in the FPIs need to be provided by certain FPIs. These are FPIs that hold more than 50% of their Indian equity AUM in a single Indian corporate group and FPIs that individually, or along with others hold more than Rs....

khatadekho.com Get ready we have something coming that is going to blow you away. Below is a sneak peek of what we offer. Check back often for our launch.

In the realm of Goods and Services Tax (GST), the accurate and punctual filing of returns stands as a cornerstone for every registered taxpayer. The significance of adhering to deadlines cannot be understated, as it not only affects the party at fault but also casts repercussions on the recipients of supplies. Among the myriad of GST returns, two hold particular prominence: Form GSTR-1 and Form GSTR-3B....

Navigating the Crucial Role of GSTR-1 and GSTR-3B in GST Compliance - Khata Dekho In the realm of Goods and Services Tax (GST), the accurate and punctual filing of returns stands as a cornerstone for every registered taxpayer. The significance of adhering to deadlines cannot be understated, as it not only affects the party at fault but also casts repercussions on the recipients o...

Understanding Income from House Property and Tax Benefits in India Income from house property is a significant aspect of an individual's financial landscape, particularly for those who own residential or commercial properties in India. This income includes both actual rental income received and deemed rental income from properties that are not let out. The computation of income from house property in India is governed by the Income Tax Act, which outlines specific rules and deductions....

- Khata Dekho Understanding Income from House Property and Tax Benefits in India Income from house property is a significant aspect of an individual’s financial landscape, particularly for those who own residential or commercial properties in India. This income includes both actual rental income received and de...

Investing in mutual funds and direct investment in the stock market each have their own advantages and disadvantages. The choice between the two depends on your financial goals, risk tolerance, investment knowledge, and time commitment. Here are some reasons why some investors might find mutual funds more appealing than direct investment in the stock market: Diversification: Mutual funds pool money from multiple investors to invest in a diversified portfolio of stocks and other assets....

Unlocking the Benefits: Why Mutual Funds Outshine Direct Share Market Investment - Khata Dekho Investing in mutual funds and direct investment in the stock market each have their own advantages and disadvantages. The choice between the two depends on your financial goals, risk tolerance, investment knowledge, and time commitment. Here are some reasons why some investors might find mutual fund...

https://khatadekho.com/tcs-on-lrs-and-on-purchasing-overseas-tour-program-packages/

File your Income Tax Return with instant support of Tax Experts @ Rs 999/- (All Inclusive).

GST assessees with turnover between ₹5-10 crore must prepare for e-invoice system transition.

Assessees having turnover more than 5 Crores are required to Generate E-Invoices from August 01. “All eligible taxpayers should familiarize themselves with the e-Invoicing requirements and take the necessary steps to ensure compliance with the new threshold,” GSTN advised.

“GSTN has enabled all eligible taxpayers with an Aggregate Annual Turnover (AATO) 5 crores and above as per GSTN (GST Network or IT backbone of the indirect tax system) records in any preceding financial year for e-Invoicing. These taxpayers are now enabled on all six IRP (Invoice Registration Portal) portals including NIC-IRP for e-Invoice reporting,” an advisory issued by GSTN said. Further, an assessee can check his enablement status on the e-Invoice portal at https://einvoice.gst.gov.in .

Auto-rickshaw services provided through e-commerce platforms would attract 5 per cent GST from January 1, 2022. The Revenue Department under the Finance Ministry through a notification dated November 18 withdrew the GST exemption available to auto rickshaws providing passenger transport services through e-commerce platforms. While the passenger transport services provided by auto rickshaw drivers through offline/ manual mode would continue to be exempt,

https://mpjca.wordpress.com/2021/11/26/auto-rickshaw-services-provided-through-e-commerce-platforms-to-attract-5-gst/

Auto-rickshaw services provided through e-commerce platforms to attract 5% GST Auto-rickshaw services provided through e-commerce platforms would attract 5 per cent GST from January 1, 2022. The Revenue Department under the Finance Ministry through a notification dated Novemb…

Compliance Calender for the Month of November 2021
https://mpjca.wordpress.com/2021/11/06/compliance-calender-for-the-month-of-november-2021/

Compliance Calender for the Month of November 2021 Important due dates for the GST Returns in the Month of November 2021 Due date Form to be filed Period Who should file? 10.11.2021 GSTR 7 Oct-21 GSTR 7 is a return to be filed by the persons who is…

Keeping in view of various requests, MCA has given relaxation on levy of additional fees for Annual Financial Statements filing for F.Y. ended on 31.03.2021, if filed upto 31.12.2021. Circular Dated 29.10.2021 is attached:

https://mpjca.wordpress.com/2021/10/29/%e2%80%8brelaxation-on-levy-of-additional-fees-upto-31-12-2021-in-filing-of-e-forms-aoc-4-aoc-4-cfs-aoc-4-xbrl-aoc-4-non-xbrl-and-mgt-7-mgt-7a-for-the-financial-year-ended-on-31-03-2021-under-the/

​Relaxation on levy of additional fees upto 31/12/2021 in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL AOC -4 Non-XBRL and MGT-7/MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013.​ Keeping in view of various requests, MCA has given relaxation on levy of additional fees for Annual Financial Statements filing for F.Y. ended on 31.03.2021, if filed upto 31.12.2021. Circular Date…

The ICAI issued Advisory dated October 28, 2021 to the auditors of class of companies specified in Rule 3(1), to file Form NFRA-2 Annual Return for the reporting period 2018-2019 and also for the year ending March 31, 2020, immediately without any delay, if not filed already. As per Rule 5 of NFRA Rules 2018, it has been prescribed that the auditors of class of companies specified in Rule 3(1) are required to file an annual return with NFRA in the prescribed form (NFRA-2) on or before 30th November every year....

https://mpjca.wordpress.com/2021/10/29/icai-advises-its-members-to-file-form-nfra-2-annual-return-for-reporting-period-2018-19-and-2019-20-without-a-ny-delay/

ICAI advises it’s members to file Form NFRA-2 Annual Return for reporting period 2018-19 and 2019-20 without a ny delay The ICAI issued Advisory dated October 28, 2021 to the auditors of class of companies specified in Rule 3(1), to file Form NFRA-2 Annual Return for the reporting period 2018-2019 and also for the y…

Common Offline Utilities for filing Statutory Income-tax forms (Enabled for Form 3CA-CD & 3CB-CD): The form is enabled for AY 2021-22 and AY 2020-21, prior years would be available shortly. This version can be used for Tax Audits in cases not involving large number of records. The next version will have CSV import/upload to accommodate large number of records in various schedule of the form.

https://mpjca.wordpress.com/2021/10/26/cbdt-launches-common-offline-utilities-for-filing-tax-audit-reports/

CBDT Launches Common Offline Utilities for Filing Tax Audit Reports Common Offline Utilities for filing Statutory Income-tax forms (Enabled for Form 3CA-CD & 3CB-CD): The form is enabled for AY 2021-22 and AY 2020-21, prior years would be available shortly. Thi…

Ministry of Corporate Affairs (MCA) vide General Circular No. 16/2021 dated 26.10.2021 has issued notification / circular and provided Relaxations in paying additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) by Limited Liability Partnerships upto 30th December, 2021. Notification text: This Ministry has received a representation seeking extension of timeline for filing the Statement of Account and Solvency without paying additional fees by LLPs on account of challenges faced by the LLPs due to COVID-19 pandemic....

https://mpjca.wordpress.com/2021/10/26/llp-form-8-due-date-extended/

LLP Form 8 Due Date Extended Ministry of Corporate Affairs (MCA) vide General Circular No. 16/2021 dated 26.10.2021 has issued notification / circular and provided Relaxations in paying additional fees in case of delay in fili…

The new definition of Small Company- Know whether your company falls into Small Companies The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions Details) Rules, 2014 that came into force on 1st April 2021. The MCA (Ministry of Corporate Affairs) has effected this amendment in accordance with the proposal of the Honourable Finance Minister to revise the definition of Small companies in India by increasing the…...

https://mpjca.wordpress.com/2021/10/22/new-definition-of-small-company-applicable-from-fy-2021-22-onwards/

New definition of Small Company- Applicable from FY 2021-22 onwards The new definition of Small Company- Know whether your company falls into Small Companies The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions …

The Central Board of Direct Taxes (CBDT)has said that more than two crore income tax returns (ITRs) for the financial year 2020-21 have been filed so far. The performance of the new Income Tax portal has “substantially stabilised”. “All Income Tax Returns have been made available for e-filing. More than 2 crore ITRs for AY 2021-22 have been filed on the portal, of which ITRs 1 & 4 constitute 86%....

https://mpjca.wordpress.com/2021/10/22/income-tax-return-filing-crosses-2-crore-mark-in-october-cbdt-urges-taxpayers-to-file-fy-2020-21-returns-soon/

Income Tax Return Filing Crosses 2 Crore Mark in October: CBDT urges Taxpayers to file FY 2020-21 Returns soon The Central Board of Direct Taxes (CBDT)has said that more than two crore income tax returns (ITRs) for the financial year 2020-21 have been filed so far. The performance of the new Income Tax port…

Important due dates for the GST Returns in the Month of October 2021 Due date Form to be filed Period Who should file? 10.10.2021 GSTR 7 September 2021 GSTR 7 is a return to be filed by the persons who is required to deduct TDS (Tax deducted at source)...

https://mpjca.wordpress.com/2021/10/18/compliance-calendar-for-the-month-of-october-2021/

Compliance Calendar for the Month of October 2021 Important due dates for the GST Returns in the Month of October 2021 Due date Form to be filed Period Who should file? 10.10.2021 GSTR 7 September 2021 GSTR 7 is a return to be filed by the persons…

The Government of NCT of Delhi vide Notification No. F. 111/573/DT&T/ESH:/ReDesiGNATION/GST 1/2021/9410 dated October 14, 2021 has conferred upon senior assistant and junior assistant, working in the Department of Trade and Taxes, the power to undertake physical verification of the place of business of a person before the grant of registration or due to any other reason after the grant or registration, as assigned by the Proper Officer. Delhi-GST-Commissioner-empowered-senior-and-junior-assistant-to-undertake-physical-verification-of-business-place.pdf

https://mpjca.wordpress.com/2021/10/16/delhi-gst-commissioner-empowered-senior-and-junior-assistant-to-undertake-physical-verification-of-business-place/

Delhi GST Commissioner empowered senior and junior assistant to undertake physical verification of business place The Government of NCT of Delhi vide Notification No. F. 111/573/DT&T/ESH:/ReDesiGNATION/GST 1/2021/9410 dated October 14, 2021 has conferred upon senior assistant and junior assistant, working …

A two-member bench of the Income-tax Appellate Tribunal (ITAT) in Mumbai has directed that a larger bench should decide whether the expenses on freebies to doctors incurred by pharma companies should be allowed as a business deduction. The fallout of any disallowance of expenditure is that the taxable income goes up, resulting in a higher tax outgo. The bench comprising judicial member Saktijit Dey and vice president Pramod Kumar, …...

https://mpjca.wordpress.com/2021/10/16/larger-itat-bench-to-rule-on-pharma-freebies/

Larger ITAT bench to rule on pharma freebies A two-member bench of the Income-tax Appellate Tribunal (ITAT) in Mumbai has directed that a larger bench should decide whether the expenses on freebies to doctors incurred by pharma companies shou…

We have developed a teacher training curriculum and were able to host training se BDT clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment Aims to make disinvestment deals more attractive for strategic investors In order to make disinvestment deals of ailing state-owned firms more attractive for strategic investors, the government allowed erstwhile public sector companies to carry forward losses to be set off against future profits....

https://mpjca.wordpress.com/2021/10/10/cbdt-clarification-regarding-carry-forward-of-losses/

Income-tax: CBDT CLARIFICATION REGARDING CARRY FORWARD OF LOSSES We have developed a teacher training curriculum and were able to host training se BDT clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestmen…

10 days for FY21 to end. Have you availed tax benefits?

Get Digital Signature Certificates (Class-3 Sign) @ Rs 849/- all over India.

HSN Codes made Mandatory in GST Returns w.e.f. 01.01.2021.
Auto-populated ITC (on the basis of suppliers's GST Returns) will be allowed instead of Manual Entry... So you have to keep on eye on your Suppliers's GST Return Filing Status Every month.

https://www.expertadvisors.in/post/recommendations-of-the-42nd-gst-council-meeting

Recommendations of the 42nd GST Council Meeting The 42nd GST Council Dated 05.10.2020

GST Registration after Physical Verification of Business Place if Aadhaar Not Authenticated

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https://www.expertadvisors.in/post/gst-registration-after-physical-verification-of-business-place-if-aadhaar-not-authenticated

GST Registration after Physical Verification of Business Place if Aadhaar Not Authenticated As notified by the GSTN, Aadhaar Authentication has now been made mandatory for GST Registration. Now anyone applying for new registration can opt to undergo e-KYC authentication of their Aadhaar number. It has also been notified that one who fails to do so would be subjected to site verification by...

https://www.expertadvisors.in/post/it-department-hopes-to-complete-all-faceless-e-assessments-by-mid-september-2020

IT Department hopes to complete all Faceless e-Assessments by mid-September,2020 Out of 58,319 cases selected for faceless assessment, already 8,700 cases have been disposed off.

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File your Income Tax Return with the help of Experts Chartered Accountants and Tax Consultants >> 100% Online >> 100% Satisfaction Guaranteed >> with refund Guarantee>> Rs 499/- onwards.
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https://www.expertadvisors.in/post/itr-fy2018-19-date-extended-to-30-09-2020