CA Umesh Sharma

Beware! Interest in GST is not in Public Interest!

Goods and Services Tax - Arjun (Fictional Character): Krishna, What debate is undergoing on GST interest? Krishna (Fictional Character): Arjuna, Under Sec 50, interest is levied in GST. Hyderabad GST Commissionerate has issued standing order on 4th   February, 2019. It lead to argument between taxpayer and government. Arjun: Krishna, When is interest levied und...

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Important GST Changes W.e.f 1-2-2019

Goods and Services Tax - Recently the Finance Minister declared the Interim Budget for 2019-20. No such changes were proposed under GST. Earlier the recommendations were made to amend certain provisions. Some of the provisions are now made applicable from 1st Feb, 2019. Most of the taxpayers being unware of the same, let’s discuss them....

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Last opportunity to rectify mistakes in GSTR 1!

Goods and Services Tax - Recently the government is focusing on ease and simplicity of returns, because of which the government has initiated certain steps to provide for rectification of tax invoices entered in GSTR 1 of the previous financial year....

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“Chowkidaar” per GST RCM hai”

Goods and Services Tax - From 1st January, 2019, Government has made certain changes in Tax Rates. As per the changes made, Security Service Provider has been exempted from GST liability for non corporate suppliers . The changes made the Security Service taxable under RCM which means Security Service Receiver who will be a registered taxpayer have to bear the GST...

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Dheel (Ease) for Small kites (Small taxpayers) under GST!

Goods and Services Tax - f we compare GST and kite flying, then the person who is flying kite is the Taxpayer , kite is GST, Chakri means books of accounts, jumbling in threads means Returns, Air means Tax collection, Cutting of Kites means Matching mis-matching, and String means Law. ...

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Recent Posts in "CA Umesh Sharma"

Beware! Interest in GST is not in Public Interest!

Arjun (Fictional Character): Krishna, What debate is undergoing on GST interest? Krishna (Fictional Character): Arjuna, Under Sec 50, interest is levied in GST. Hyderabad GST Commissionerate has issued standing order on 4th   February, 2019. It lead to argument between taxpayer and government. Arjun: Krishna, When is interest levied und...

Read More

Important GST Changes W.e.f 1-2-2019

Recently the Finance Minister declared the Interim Budget for 2019-20. No such changes were proposed under GST. Earlier the recommendations were made to amend certain provisions. Some of the provisions are now made applicable from 1st Feb, 2019. Most of the taxpayers being unware of the same, let’s discuss them....

Read More

Last opportunity to rectify mistakes in GSTR 1!

Recently the government is focusing on ease and simplicity of returns, because of which the government has initiated certain steps to provide for rectification of tax invoices entered in GSTR 1 of the previous financial year....

Read More

“Chowkidaar” per GST RCM hai”

From 1st January, 2019, Government has made certain changes in Tax Rates. As per the changes made, Security Service Provider has been exempted from GST liability for non corporate suppliers . The changes made the Security Service taxable under RCM which means Security Service Receiver who will be a registered taxpayer have to bear the GST...

Read More

Dheel (Ease) for Small kites (Small taxpayers) under GST!

f we compare GST and kite flying, then the person who is flying kite is the Taxpayer , kite is GST, Chakri means books of accounts, jumbling in threads means Returns, Air means Tax collection, Cutting of Kites means Matching mis-matching, and String means Law. ...

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New Year resolutions of GST?

New Year celebration and resolutions for year 2019 are thought over by all. Many new notifications, circulars, orders, etc. in GST are issued on 31-12-2018. What are new changes in GST?...

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GST year 2018, Mixture of happiness & fear

Year 2018 saw many changes such as improvement in GST law, changes in old provisions, implementation of new provisions, changes in GST rates, changes in schemes etc. Let us now discuss all the changes in brief....

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What are GST related Gifts from the bag of Santa Clause?

31st GST Council Meeting held on Saturday, took decisions on ITC, Tax Slab Rates, Composition Scheme, Return Filing process etc. Leading to a wonderful gift to all taxpayers before Christmas from Santa Clause (through Government)....

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Co-relation between MVAT audit report and GST !

Arjuna, In the financial year 2017-18, 3 months were of Vat while the remaining 9 months were of GST. Therefore, taxpayers would be required to get their books audited as per their Turnover under both the laws. Hence while finalizing financials taxpayers might face problems. So let us discuss on the same....

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Solution for Problems faced by taxpayer for filing Profession Tax Return!

Employer whose tax liability exceeds Rs. 50000/- in the previous year are required to file monthly returns. Remaining tax payers have to file yearly return. Newly registered tax payers in any year are also required to file monthly returns in that year. For subsequent year, their periodicity depends on the tax payment of the previous year....

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