"14 January 2023" Archive

How to deal with difference in ITC availed in Form GSTR-3B Vs. Form GSTR-2A

CBIC Clarification to deal with difference in Input Tax Credit (ITC) availed in FORM GSTR-3B as compared to that detailed in FORM GSTR-2A for FY 2017-18 and 2018-19 vide Circular-No -183/15/2022-GST.  Hello readers — Today I will discuss how to deal with ITC not reflected in GSTR-2A –for F.Y 2017-18 & 2018-19 in simplified ma...

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Incentive scheme for promotion of RuPay Debit Cards & low-value BHIM-UPI transactions (P2M)

Notification No. 24(1)/2020-DPD-Part(2) 14/01/2023

The Government is taking various initiatives to promote digital payments. Over past few years, digital payment transactions have witnessed tremendous growth across the country with the number of transactions growing from 2,071 crore in FY2017-18 to 8,840 crore in FY2021-22....

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How to Setup a Startup in India: Step by Step Guide

Startups in India have been around since the early 2000s and they have only grown in numbers since then. India is seen by many as one of the fast-emerging countries when it comes to startup culture. There are numerous success stories on the startup front and this is just the beginning. The Government of India, […]...

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GSTR-3B PDF to EXCEL Extraction Tool

Instructions to use GSTR-3B PDF to EXCEL Extraction Tool 1. You can use this tool by using Microsoft Excel version 2016,2019 ,2020 or Office 365. 2. Save only GSTR-3B pdf without changing Name i.e.,(GSTR3B_GSTIN_MMYYYY.pdf) 3. paste file location in the Yellow cell and then click on the ‘GSTR-3B’ Button    ...

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IFSCA (Manner of Payment and Receipt of Premium) Regulations, 2022

Notification No. IFSCA/2022-23/GN/REG032 12/01/2023

These regulations may be called the International Financial Services Centres Authority (Manner of Payment and Receipt of Premium) Regulations, 2022....

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IFSCA (Maintenance of Insurance Records and Submission of Requisite Information for Investigation and Inspection) Regulations, 2022

Notification No. IFSCA/2022-23/GN/REG031. 12/01/2023

These regulations may be called the International Financial Services Centres Authority (Maintenance of Insurance Records and Submission of Requisite Information for Investigation and Inspection) Regulations, 2022....

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IFSCA (Appointed Actuary) Regulations, 2022

Notification No. IFSCA/2022-23/GN/REG028. 12/01/2023

These regulations may be called the International Financial Services Centres Authority (Appointed Actuary) Regulations, 2022. They shall come into force from the date of their publication in the Official Gazette....

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Instructions issued by Revenue Department needs to be aligned with decisions taken by courts

Hero Motocorp Ltd. Vs Union of India & Ors. (Delhi High Court)

Hero Motocorp Ltd. Vs Union of India & Ors. (Delhi High Court) Instructions issued by Revenue Department needs to be aligned with the decisions taken by the courts and the position of law as declared by the judgments The Hon’ble Delhi High Court in M/s. Hero Motocorp Ltd. v. Union of India & Ors [Review […]...

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Decoding Deduction under 80-IAC of Income Tax Act 1961: A Complete Guide

Section 80-IAC of Income Tax Act, 1961 provides a tax incentive to domestic companies for promoting investments in startups and other eligible businesses....

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Whether Hitches In E-Payments of Taxes Will Be Resolved In Near Future

While e-pay Tax is selected the assessees are given two options; ONE for tax payment through (i) Net Banking (ii) Debit Card (iii) Over the Counter (iv) NEFT/RTGS (v) Payment Gateway for 18 Banks, which are listed, or otherwise the assessees are directed to go to Protean (previously NSDL) tax payment page for other Banks. […]...

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