Corporate Law : Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, t...
Fema / RBI : The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with fle...
Company Law : The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% addition...
Goods and Services Tax : IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility ...
Income Tax : The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value,...
Finance : The Authority clarifies application process, operating models, service limits, and compliance obligations under the new GIC Regula...
Corporate Law : The India–European Union Free Trade Agreement (FTA) is a comprehensive pact covering trade in goods, services, rules of origin, ...
Corporate Law : The ruling clarifies that digital processes are encouraged but not mandatory, ensuring workers rights are protected even through p...
Company Law : The law removes sector-based exclusions and extends minimum wage protection to all employees. It confirms universal coverage acros...
Corporate Law : The FAQs explain the uniform wage definition and the 50% allowance cap across all Codes. Gratuity applies prospectively from 21 No...
Corporate Law : FSSAI introduced perpetual licenses and simplified registration norms to ease compliance. The reforms reduce costs while maintaini...
SEBI : FPIs can now apply for Digital Signature Certificates directly within the CAF portal. The move simplifies onboarding and reduces p...
Goods and Services Tax : GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-popula...
Goods and Services Tax : ITC availed for FY 2023-24 but reversed or claimed in FY 2024-25 must be reported in Table 6A1 of GSTR-9. Reversals from prior yea...
SEBI : The notice outlines detailed guidance on filing financial results under Regulation 33, covering timelines, disclosure norms, and r...
A. FAQs on New GST Returns Dashboard FAQs > New Returns Dashboard 1. What is the GST Return Type? If the return frequency is selected as quarterly, then the taxpayer can change the return type as either Quarterly (Normal), Sahaj or Sugam, based on the types of their transactions. Taxpayer whose aggregate turnover was more […]
FORM GST ANX-2 contains details of inward supplies as uploaded by supplier in his Form GST ANX-1 (and GSTR-5 and GSTR-6), and recipient needs to take action by either accepting or rejecting these documents, or marking them as pending.
The data in GST ANX-2 is majorly auto-populated from the data uploaded by the supplier in his/her Form GST ANX-1, GSTR-5 and GSTR-6. The recipient is required to take action of Accept/ Reject/ keep Pending on the documents in his /her GST ANX-2.
Form GST ANX-1 contains details of outward supplies, inward supplies liable to reverse charge and import of goods and services. It is an annexure to the return to be filed by a regular taxpayer.
Article explains how to To upload the generated JSON file from the New Return Offline Tool on the GST Portal, Why one need to upload the JSON file into the GST Portal, How to upload the generated JSON file from the New Return Offline Tool, Why do I need to download the JSON file from […]
Article explains What is Micro small and medium Enterprise, Who regulate Micro small and medium Enterprise, What are Micro, Small & Medium Enterprises, How to get registered under MSME registration and What are the benefits of getting registered under MSME?
In response to my earlier article on GST Registration Cancellation & Revocation – Process, I have received many Queries related to GST Cancellation and steps to be followed after GST Cancellation. To summaries these queries, now I am writing this article in Question answer format to cover maximum possible question. Q1- I am small trader […]
In the corporate world nowadays, increase in the rate of frauds has generated the need for the companies to analyze the requirements wrt to fraud reportings, in order to be proactive in tightening their internal systems for preventing the same. Keeping in mind the need of the hour, we have prepared a guide to fraud reporting under Companies Act and RBI Regulations in case of NBFCs.
E-Way Bill system will have a new feature of blocking/unblocking of the taxpayers from next month, as per the rule. That is, if the GST taxpayer has not filed Return 3B for the last two successive months in GST Common portal, then that GSTIN will be blocked for generation of e-way bill either as consignor or consignee.
Q.1 Who is an NRI? Ans. An Indian residing abroad is generally known as Non-Resident Indian (NRI). Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India or is a person of Indian origin. NRI also includes the Person of Indian Origin (PIO). PIO is a person, who at any […]
