Articles by CA Umesh Sharma

Side Effects of poor functioning of New Income Tax Portal

CA Umesh Sharma 29 September 2021 at 09:36

Due to technical glitches on the new Income Tax portal, taxpayers have failed to file Income Tax Return, Audit Report and there is a delay in submission of Financials in the bank for loan purposes.

Recommendations in 45th GST Council Meeting

CA Umesh Sharma 21 September 2021 at 09:57

Recommendations in 45th GST Council Meeting

Extension of IT Due Dates

CA Umesh Sharma 14 September 2021 at 09:32

Extension of Income Tax Due Dates

Important Care to be taken before filing Sept 21 GST Return

CA Umesh Sharma 07 September 2021 at 09:24

Once the return of September 2021 is filed, no changes or rectifications can be made further. Thus, taxpayers must reconcile their books and returns & make the final adjustments.

Now non-filing of GSTR-3B for two months restricts filing of GSTR-1 / IFF

CA Umesh Sharma 31 August 2021 at 09:26

Rule 59(6) of CGST Rules,2017 providing for restriction in the filing of GSTR-1 has been inserted by CBIC which will be implemented on the GST Portal from 1st September 2021.

Raksha Bandhan: Relation between seller and buyer under GST

CA Umesh Sharma 24 August 2021 at 09:27

A taxpayer should reconcile the purchases with sales shown by the seller i.e. Party wise reconciliation of all purchase transactions with GSTR-2A should be made.

GST Scrutiny Parameters

CA Umesh Sharma 17 August 2021 at 08:54

An officer may scrutinize the return furnished by registered persons to verify the correctness of the return and inform them of the discrepancies noticed and seek their explanation thereto.

Non-filing of GST returns restricting independence of taxpayers

CA Umesh Sharma 10 August 2021 at 08:48

CBIC has decided again to resume the blocking of the EWB generation facility on the EWB portal, for all the taxpayers in terms of Rule 138 E (a) and (b) of the CGST Rules, 2017, from 15th August 2021 onwards.

GST Annual Return (GSTR-9 & 9C)

CA Umesh Sharma 05 August 2021 at 09:15

Earlier GST Audit was to be conducted and GSTR-9C was to be certified by a CA, but this requirement has been removed, so the same is to be self-certified by the client along with a reconciliation.

New Income Tax Portal - Kabhi Khushi Kabhi Gham

CA Umesh Sharma 28 July 2021 at 09:36

After the launch of the new portal, due to technical glitches, the functioning of the portal was affected. Various problems are being faced by the taxpayers, professionals, and other stakeholders.