Articles by CA Umesh Sharma
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Way out, to find out Bogus Taxpayers
CA Umesh Sharma 22 February 2021 at 09:53More transparency has been brought into the GST System by introducing the "Know Your Supplier" facility. This facility will help in reducing the non-compliance by the suppliers as if any supplier has defaulted in filing his returns, it will be shown on the portal.
ITR filing exemption to senior citizen above age of 75 - A fiasco?
CA Umesh Sharma 17 February 2021 at 11:46In this article, Krishna and Arjuna discuss whether the ITR filing exemption to senior citizens above the age of 75 given in Union Budget 2021-22 is actually beneficial and useful for them, or is it just a fiasco?
What is the new snag of TDS on purchase of goods?
CA Umesh Sharma 17 February 2021 at 11:46Analysing the new provision for TDS i.e. Section 194Q, that has been proposed in the Union Budget 2021-22 and what will be its impact on the taxpayers.
Taxpayers! Furnish GSTR-1 in time, or pay late fees
CA Umesh Sharma 19 January 2021 at 09:53Importance of filing GSTR-1 on time,the due date of filing GSTR-1 and the consequences of non-furnishing of GSTR-1 within the due date
Shock Causing Notices (SCNs) of Service tax by GST department
CA Umesh Sharma 12 January 2021 at 10:00The Central GST department has been issuing Show Cause Notices for differences in receipts as per Service tax returns & ITRs for FY’s 14-15, 15-16 and so on. This is a critical topic to discuss.
Due date Extension put Taxpayers under Duckworth Lewis Situation
CA Umesh Sharma 05 January 2021 at 10:06In this article, we compare the situation of the taxpayers and professionals to the "Duckworth Lewis" Rule in which due to rain or other interruptions, more runs have to be made in fewer balls. This is with regard to the due date extension made by the government.
GST me Naya Saal, Aur Taxpayer Behaal!
CA Umesh Sharma 29 December 2020 at 09:57The year 2020 has seen a large number of false transactions & malpractices of the taxpayers. In order to curb malpractices used by taxpayers for tax evasion, the GST department is now implementing its new tools to brush out anomalies in the system.
4 Warnings in GSTR 3B w.e.f. Nov 2020 onwards, which can’t be ignored
CA Umesh Sharma 21 December 2020 at 16:44In this article, Krishna and Arjun discuss four warnings in GSTR 3B w.e.f. November 2020 onwards, which the taxpayers can't afford to ignore and the solutions to the issues faced by taxpayers as a consequence of these warnings.
GST Audit 19-20, & Lots of Issues
CA Umesh Sharma 14 December 2020 at 18:56The facility to file an annual return in form GSTR-9 for FY 2019-20 is now available. The form is enabled for taxpayers whose table 8A computation has been completed.
Avoid Late Fees by filling tax Returns before 31st December 2020
CA Umesh Sharma 08 December 2020 at 09:51In this article, Krishna and Arjuna discuss some of the compliances to be fulfilled by taxpayers by filing Tax Returns before 31st December 2020, in order to avoid late fees.
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