Articles by CA Umesh Sharma
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Digital Rupee: A new way of online transaction without Bank Account
RBI launched Digital rupee and it is considered as a mean to implement monetary policies to provide stability, control growth, and influence inflation.
Department Holds Chakri of Taxpayers Kite
From children to elderly, everyone was seen having fun flying their Kites. Krishna, how high do you think the Taxpayers' Kite will fly this year?
Headache of HSN Code for GST taxpayers in GSTR-9 for FY 21-22
From FY 2021-22 onwards, it shall be mandatory to report HSN Summary for Outward Supplies in Table 17 at 6 digits for taxpayers having annual turnover in preceding FY above Rs. 5 Cr. and at 4 digits for all B2B supplies for taxpayers having annual turnover in the preceding FY up to Rs. 5 Cr.
What happens when employee leaves the organization?
The article mentions about the havoc going on with IT Companies' employees leaving the organization
Important Due Dates in the Month of December!
This December Month is full of Due Dates which are important from both GST and Income Tax Point of view
Benefit of Extended Time Limit to avail ITC till Nov 30
CBIC issued a notification to extend the time limit for completion of major compliances of previous financial year 21-22 under GST Act till 30th November 2022 or furnishing of the relevant annual return (GSTR-9), whichever is earlier.
Tax Benefits for Children
14th Nov is celebrated as Children's Day on Hon Mr. Pandit Jawaharlal Nehru's birthday. Every parent spends money from their income on the education, development of their children, but are unaware of the taxation benefits which the parents can enjoy, let us discuss it one by one.
One Nation, One ITR Form, 40 Questions: New Proposal
CBDT has released draft common Income Tax Return Form by merging all the existing returns of income except ITR-7 for all taxpayers barring trusts and non-profit organizations, to which all stakeholders and general public can provide inputs up to December 15.
E-Invoicing for turnover exceeding 10 Crore rupees w.e.f. 1st October
CBIC issued Circular No. 17/2022-GST on 1STAug,2022 specifying mandatory E-invoicing from October 1, 2022forbusinesses whose aggregate turnover exceeds Rs 10 crore in any financial year from 2017-18 to 2021-22, for business-to-business (B2B) supply of goods or services, or both and also for exports.
A big relief by Supreme Court to taxpayers regarding GST Transitional Credit
CBIC issued Circular No. 180/12/2022-GST on 9th Sept,2022 following the judgement of Hon ble Supreme Court in the case of Union of India vs. Filco Trade Centre Pvt. Ltd. with respect to guidelines for filing/revising TRAN-1/ TRAN-2.
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