Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Finance : Learn how preparing a budget—whether personal, business, or government—ensures financial stability and discipline in daily lif...
Goods and Services Tax : The recent GST notifications introduce various changes aimed at streamlining compliance and addressing specific sectors. Let’s b...
Goods and Services Tax : Gujarat High Court rules that the assignment of leasehold rights is not subject to GST, providing relief to taxpayers by clarifyin...
Goods and Services Tax : The 55th GST Council Meeting introduced changes in GST rates, compliance mechanisms, and exemptions for businesses, including new ...
Corporate Law : Right now, MSME’s are in a bind, there are lot of suppliers who are not paying MSME’s their dues on time and it's causing MSME...
Partnership means more than one person come and work together. Business partnerships are carried out with the intention of earning Profits. But in Political partnerships there is no objective of earning profits, however nowadays it seems that they are made for profits only. In politics rules are not followed. If business Partnerships dissolves then every partner has to follow various laws.
The return of September month is the most significant one in GST.As it is the last chance for rectification of few mistakes in previous returns. Taxpayers need to check whether there are any differences in the outward supplies between the books and that as per GST Returns. If any differences exist, then taxpayers need to rectify the same, by making adjustments in September’s return.
The new dispute is whether notional interest on the security deposit paid by the tenant, should be taken into consideration for the purposes of arriving at the total value from rental, or not.
Arjuna, it seems that after September 2020, there will be complete changeover of GSTR-3B filing process on GSTN. On inward side, new GSTR 2B will so as to reconcile and match ITC as per GSTR-3B & GSTR-2A. On outward side, GSTR-1 figures may be reflected in GSTR-3B, so as to reconcile and match tax liability. Be Thus, GSTR-3B will become more robust, & the taxpayers need to be more attentive.
Arjun (Fictional Character): Krishna, half year of 2020-21 is about to end. Along with the same, there are many due dates to be complied with in the same month. Please tell which are those due dates? Krishna (Fictional Character): Arjuna, due to the COVID-19 pandemic & the following lockdown situation therein, the due dates for […]
Arjun (Fictional Character): Krishna, what is the amendment in applicability of TCS under section 206C of Income tax Act? Krishna (Fictional Character): Arjuna, an amendment has been made in section 206C (1H) of Income Tax, that if any seller of goods whose turnover exceeds Rs. 10 Cr. in the preceding FY, then he is liable […]
DISCLOSURES -The notes for GST Audit are for guidance only. -The GST auditor will have to make suitable observations, remarks, qualifications, etc. depending on the facts of the audit. -AS THE GST LAW IS VOLATILE Where to put reasons, comments, observations, qualifications, etc. in GSTR-9C ? 1) The Auditor is required to put reasons for […]
Part III of GST Audit Series: 6 Case Studies on Reverse Charge Mechanism (RCM) reporting in GSTR-9 & 9C of FY 2018-19. Issues discussed regarding- 1. How to report 17-18 transactions of RCM paid in 18-19? 2. RCM paid by DRC 03, how to report? 3. How to report RCM issues in GSTR 9 and […]
Part II of GST Audit Series: 12 Case Studies on Inward Supplies of FY 17-18 reporting in GSTR 9 & 9C of FY 18-19. How to report Input Tax Credit of 17-18 in GSTR 9 and 9C of 18-19? 1. 12 Case studies covering all issues of ITC reporting of 17-18 transactions in 18-19. 2. […]
GST Audit Series Part I: 12 Case Studies on Outward Supplies of FY 17-18 reporting in GSTR9 & 9C of FY 2018-19. Highlights: How to report Outward Supplies Tax of 17-18 in GSTR 9 and 9C of 18-19. 1. Total 12 Case studies covering all issues of reporting 17-18 transactions in 18-19. 2. Where to […]
