"I'm a practising Chartered Accountant with two years of professional experience across GST, Income Tax, Audit, and Accounting. I run my own firm, Mudit Choraria & Associates, based in Ahmedabad, where I work with Indian SMEs and a range of clients on compliance and advisory matters — from GST and income tax filings to ROC/MCA work, statutory and internal audits, and licensing. I focus on combining sound technical practice with practical, technology-driven solutions to make compliance simpler and more efficient for my clients."
The article explains how mandatory IMS and the Zero-Mismatch Policy require taxpayers to verify invoices before claiming ITC, making monthly reconciliation essential to protect tax credit.
GST liability depends on the category of prize money received. The key takeaway is that betting, horse racing, lotteries, casinos, and online money gaming are now taxable as specified actionable claims.
