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Pratik Anand

Latest Posts by Pratik Anand

How to Respond to DRC-01C Notice for ITC Mismatch: GSTR-2B vs. GSTR-3B

April 15, 2024 30174 Views 0 comment Print

Have you got an intimation in DRC-01C under Rule 88D for ITC mismatch between GSTR-2B and GSTR-3B? Understanding the reasons and how to respond                                                                                 Have you availed ITC higher than the amount auto-populated in GSTR-2B? If you have then the chances are you can receive an intimation in form DRC-01C under Rule 88D asking for […]

New Tables 14 and 15 in GSTR-1 and practical cases

February 20, 2024 21816 Views 1 comment Print

Explore the significance of newly introduced Tables 14 and 15 in GSTR-1, applicable to E-commerce operators and suppliers. Learn about their purpose, reporting requirements, and practical cases.

Taxation of Bonus, splitting and Right issue of Shares

August 9, 2023 40824 Views 3 comments Print

Unveil the intricacies of patent and compulsory licensing in Saudi Arabia. Understand its importance, legal framework, and recent developments.

Have you filed Equalization Levy annual return yet?

June 4, 2023 14712 Views 0 comment Print

Find out everything you need to know about Equalization Levy, including the specified services and e-commerce supplies subject to the levy. Learn about the due dates for payment and the repercussions for non-compliance. Discover the process for filing the annual return in Form 1, penalties for late filing, and the possibility of revising the statement.

Reversal of ITC under Rule 42 of CGST Rules

March 11, 2023 285171 Views 9 comments Print

Understand the intricacies of ITC reversal under Rule 42 of CGST Rules. Learn about the formula and practical application with examples.

All about tax on distribution of assets on dissolution or reconstitution of firm

February 21, 2023 28335 Views 1 comment Print

Learn all about Section 9B and 45(4) of the Income Tax Act, 1961. Budget 2021 has changed tax rules for firms during dissolution and reconstitution. Get all info here

PAN Card and Income of Minor in India

February 8, 2023 8112 Views 0 comment Print

As per section 160 r/w section 139A of the Income Tax Act’ 1961, even a minor can apply for PAN card in India through a representative assessee.

Removal of director of a Company – Things to be kept in mind & Procedure

January 26, 2023 42999 Views 0 comment Print

Discover the intricacies of removing a director from a company as per Section 169 of the Companies Act, 2013. Understand the step-by-step procedure, reasons for removal, and key considerations in this comprehensive guide.

New GST Registrants – Furnish bank details on GST Portal (Rule 10A)

January 11, 2023 47652 Views 3 comments Print

All GST registrants must furnish their bank details on the GST Portal within 45 days, in accordance with Rule 10A of the CGST Rules’ 2017. Get the details of this rule and update yours today!

Foreign Tax credit- How to claim and remember to file Form 67

October 18, 2021 37632 Views 8 comments Print

With globalization, people and corporates venturing abroad for work and to explore foreign markets is common. This brings a need to pay taxes on income earned in foreign countries. The question is, if an Indian resident earns income and pays taxes abroad, can he claim credit of the taxes paid in foreign countries and if […]

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