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Let us first understand the reason behind recovery proceedings: When a taxpayer fails to comply with the payment of: Tax Interest Penalty...

CBDT Circular No. 6: Relief for TDS/TCS Deductors on Linking PAN-Aadhaar The CBDT has made a notable move to tackle the issues faced by...

Notice for revision of GSTR- 3B (Draft) A discrepancy has been observed in your Form GSTR-3B for the tax period-082017 (period of...

What is ‘e-invoicing’? As per Rule 48(4) of CGST Rules, notified class of registered persons have to prepare invoice by uploading...

Electoral bonds refer to interest-free financial instruments available for purchase by both companies and individuals in India through...

What is ITR- U? The government introduced the concept of updated returns in the Union Budget 2022. It Allows: rectifying errors or...

As we approach the end of the financial year on March 31, 2024, it is imperative to ensure that all essential tasks are completed to...

Judiciary and Counsel Details Senthilkumar Ramamoorthy, J. Ms P. Jayalakshmi & S. Muthu Venkataraman for the Petitioner. T.N.C....

Form GSTR-1 is a monthly/quarterly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making...

Mandatory furnishing of correct and proper information of inter-State supplies and amount of ineligible/blocked Input Tax Credit and...

The recent Finance 2023 modifications have brought about alterations to the income tax slabs within the latest tax regime. Under this...

Tax payers are confused as to which tax regime is to be selected. Since, there are more options available, Tax planning has become pretty...

Before claiming ITC in GSTR 3B, which auto reflected from GSTR 2B, It is essential to reconcile ITC as per GSTR 2B and ITC as per 3B....

What is GSTR 2B? Form GSTR-2B is a read-only static auto-drafted ITC statement which will be generated for every registered person on the...

Since GSTR 3B is auto populated from GSTR 2B, there would not be any difference between the data of GSTR 2B and GSTR 3B. But, it is...

What is GSTR 3B? GSTR-3B is a summary return. It is to be filed every month. Quarterly In case of QRMP scheme. Taxpayers need to report...

Certain Outstanding Direct Tax Demands Remitted Following 2024 Budget Proposals. The CBDT has issued an Order vide F. No....

GST - We call it 1 Nation 1 Tax. But it is made of 3 Taxes. IGST, CGST and SGST. We pay GST on head by head basis i.e. IGST, CGST and...

1.  In order to facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof and to avoid clerical...