Articles by CA Umesh Sharma

Last Call for Tax Compliance - File Now or Face the Consequences

CA Umesh Sharma 28 October 2025 at 06:39

The 31st of October 2025 marks a crucial date for taxpayers and professionals, with three major deadlines coinciding - the Tax Audit Report (Form 3CD), the Income Tax Return (ITR) filing for audit cases and the TDS Return for Q2.

Are Your Diwali Gifts Taxable? Know the Income Tax & GST Provisions

CA Umesh Sharma 21 October 2025 at 07:49

Confused about Diwali gift taxation? Know when gifts are taxable under Income Tax & GST, exemptions, TDS under Section 194R, and key compliance rules.

Four Key GST Updates for Taxpayers

CA Umesh Sharma 07 October 2025 at 05:52

Stay updated with the latest GST changes! Learn from Arjuna and Krishna’s conversation about key updates on post-sales discounts, invoice-wise TDS reporting in GSTR-7, filing restrictions on old returns, and the new online process for filing appeals before the GST Appellate Tribunal (GSTAT).

ITC & Stock Treatment when GST Rate Drops w.e.f 22nd September 2025

CA Umesh Sharma 30 September 2025 at 07:06

Explore GST rate reduction impacts with Arjuna & Krishna. Understand ITC utilization, reversals, refund eligibility, compensation cess, and time of supply rules for smooth compliance during GST rate changes.

9 Days of Navratri, 9 Impacts of GST 2.0

CA Umesh Sharma 23 September 2025 at 08:43

The Government of India has notified major GST reforms, effective 22nd September 2025, simplifying the tax structure into three main slabs - 5%, 18% and 40%.

Consumers, Look Carefully at the Price Before Buying Products

CA Umesh Sharma 16 September 2025 at 08:40

Learn how GST rate changes affect Maximum Retail Price (MRP) revisions on unsold stock. Manufacturers can update MRPs until Dec 31, 2025, with clear rules on stamping, stickers, advertising and consumer transparency.

56th GST Council Meeting: 10 Key Recommendations Beyond Rate Cuts

CA Umesh Sharma 09 September 2025 at 08:30

Discover the 10 key recommendations from the 56th GST Council Meeting, from ITC limitations and faster refunds to simplified registration, e-commerce relief, and GSTAT setup, marking the dawn of Next-Gen GST for common taxpayers, exporters, and small businesses.