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Articles by CA Umesh Sharma

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Due date Extension put Taxpayers under Duckworth Lewis Situation

Posted by CA Umesh Sharma 05 January 2021 21493 Views

In 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!

Posted by CA Umesh Sharma 29 December 2020 11936 Views

The 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

Posted by CA Umesh Sharma 21 December 2020 23372 Views

In 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

Posted by CA Umesh Sharma 14 December 2020 17744 Views

The 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

Posted by CA Umesh Sharma 08 December 2020 10216 Views

In 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.



15 Important Points of GST in Income Tax Audit to be Taken Care off!

Posted by CA Umesh Sharma 30 November 2020 14403 Views

What are the important points of GST which are to be remembered while doing Tax Audit under the Income Tax Act, 1961? Discussing 15 of those extremely important points to be remembered while doing a Tax Audit.



Buying your dream home becomes cheaper this Diwali!

Posted by CA Umesh Sharma 16 November 2020 4213 Views

One can now buy a house at a rate of 20% lower than the circle rate. This new norm is for residential units up to Rs. 2 Cr. and will be effective till 30th June 2021.



E-invoicing: The new lighting of GST this Diwali!

Posted by CA Umesh Sharma 09 November 2020 8600 Views

The E-Invoicing system in GST was launched on 1st October 2020. E-Invoicing has successfully completed a month on 31st October 2020. How has it brightened the GST system?



Cleaning & Maintenance of Books of Accounts on the occasion of Diwali!

Posted by CA Umesh Sharma 02 November 2020 2730 Views

In this article, we discuss what should be done of old records of Books of accounts under various Acts, so that cleaning business places w.r.t. of old books of accounts can be done.



Dussehra gift of date extension, but what about Diwali gift of ITC?

Posted by CA Umesh Sharma 27 October 2020 19538 Views

Due to the COVID-19 pandemic, various taxpayers are facing issues while claiming ITC. Thus, three important recommendations have been made by 53 GST and Trade Associations regarding this.




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