Articles by CA Umesh Sharma

Is GST payable under RCM on Director's Remuneration or not?

CA Umesh Sharma 13 April 2020 at 11:02

Is GST payable under RCM on Director's Remuneration or not? The Director's remuneration in case of employee director does not fall under the purview of supply itself, and hence, RCM provisions are not applicable to it.

Relief taxpayers for e-way bill and ITC during lockdown

CA Umesh Sharma 07 April 2020 at 10:36

The government has given relaxations to GST taxpayers fee on late filing of GSTR-1 has been waived off. The validity of e-way bills has been extended and the restriction of ITC under rule36(4) will be cumulatively applicable for Feb to August.

57 Technical Glitches and Issues of GSTN

CA Umesh Sharma 01 April 2020 at 10:53

The Goods and Service Tax Portal is full of several technical glitches. Here are 57 major technical glitches ob the GST Portal.

Know what is Corona relief for taxpayers

CA Umesh Sharma 01 April 2020 at 10:52

Taxpayers, please note what CORONA relief is, and FY is ending on 31st March only!

15 Important things that taxpayers must do before 31st March 2020

CA Umesh Sharma 20 March 2020 at 10:42

Everyone is taking precautions due to the Coronavirus. Here are the precautions that taxpayer need to take before 31st March 2020 in order to prevent further problems

Latthmar Holi of GST & Floral Holi of Income tax!!

CA Umesh Sharma 09 March 2020 at 11:22

The tax department is alL ready to play different types of Holi with the taxpayers, of which the Income Tax department will be playing the Floral holi (Foolonki holi) and the GST department will be playing Latthmar Holi.

How to plan for Foreign Travel and its TCS under Income tax w.e.f. 01.04.2020?

CA Umesh Sharma 05 March 2020 at 10:31

How to plan for Foreign Travel and its TCS under Income tax w.e.f. 01.04.2020?

Beware! No Entry for false entry in Income Tax and GST!!

CA Umesh Sharma 25 February 2020 at 10:19

Several cases of fraudulent claim input tax credit (ITC) have been caught by the GST authorities. Considering the same, in Union Budget 2020 it has been proposed to take massive steps to curb issuance of fake invoices. To curb issuance of fake invoices, New penalty section 271AAD has been proposed to be inserted in the Income Tax Act through Finance Bill, 2020.

GST Taxpayers!! - Arise and Fight against Injustice of Interest Charged

CA Umesh Sharma 17 February 2020 at 10:05

CBIC asked the tax officers to collect tax on the Gross Tax Liability. Post this the taxpayers raised concerns that the interest should be calculated on the net tax liability as proposed in the Union Budget by the FM by way of amendment in Section 50 of the CGST Act, however, the CBIC clarified that the effect of such amendment will be prospective.