Articles by CA Umesh Sharma

Non-filing of GST returns restricting independence of taxpayers

Posted by CA Umesh Sharma 10 August 2021 7641 Views

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)

Posted by CA Umesh Sharma 05 August 2021 13052 Views

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

Posted by CA Umesh Sharma 28 July 2021 8710 Views

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.

Issues of Re-Assessment Proceedings u/s 148 of Income Tax Act

Posted by CA Umesh Sharma 20 July 2021 2325 Views

The validity of notices issued after 31.3.2021 has been challenged as these were issued under the old provisions, even though the provisions of section 148 were substituted by the Finance Act, 2021 w.e.f. 01-04-2021.

Issues of GST Amnesty Scheme

Posted by CA Umesh Sharma 13 July 2021 6448 Views

The GST Council announced the GST Amnesty Scheme in its 43rd GST Council Meet. However, there are certain issues in it, that have been addressed in this article.

Treatment of GST for TDS/TCS on purchase/sale of goods

Posted by CA Umesh Sharma 05 July 2021 12120 Views

TDS/TCS is to be deducted/collected u/s 194Q/206C(1H) respectively, if purchase/sales to a single party exceed Rs.50 Lacs. Whether the amount of GST is to be included in the calculation of the above limitation? Let us understand.

TDS on Purchase of Goods in Income Tax w.e.f 1st July 2021

Posted by CA Umesh Sharma 22 June 2021 4157 Views

Section 194Q - A purchaser will be liable to deduct TDS if his turnover during the last year exceeds Rs.10 crores and he purchases goods of value exceeding Rs.50 lacs in the current year from a seller.

New "Taxpayer Friendly" Income Tax E-filing Portal 2.0

Posted by CA Umesh Sharma 09 June 2021 1958 Views

The new e-filing portal is aimed to give ease, a modern and smooth interface to taxpayers. It is another initiative for providing ease of compliance to taxpayers and other stakeholders.

Extension of Income Tax Due Dates

Posted by CA Umesh Sharma 27 May 2021 5613 Views

CBDT has issued a circular on 20.5.2021 for an extension of due dates for various returns and compliances under the Income Tax Act. Let us discuss the extended due dates.