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Articles by Ajay Kumar Maggidi

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SEZ (Third Amendment) Rules 2022

  Ajay Kumar Maggidi    21 July 2022 at 08:46

Central government is actively working on "New SEZ Policy" which is expected to be introduced by end of this year to make SEZ units more attractive and to boost the domestic and foreign trade.

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Posted in LAW |   1947 Views


FCM on GTA Services

  Ajay Kumar Maggidi    18 July 2022 at 08:44

Starting W.E.F today, i.e. 18-07-2022, GTA dealers may choose option to discharge the tax under forward charge. Let us have a look at what are the changes and how does it impacts.

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Posted in GST |   3063 Views


How to report ITC in Form GSTR 3B as per latest circular

  Ajay Kumar Maggidi    11 July 2022 at 08:43

In order to bring uniformity in reporting of ineligible and reversal of credits, CBIC has issued a circular (No. 170/02/2022- GST) regarding furnishing of information regarding ITC availed, reversal and ineligible ITC in Table 4 of GSTR-3B.

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Posted in GST |   3138 Views


CBIC issued new guidelines for GST refunds

  Ajay Kumar Maggidi    20 June 2022 at 08:32

Recently CBIC has issued detailed guidelines for sanctioning, post-audit and review of refund claims.

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Posted in GST |   12903 Views


Updated Return - Opportunity to file tax return even after prescribed time limit

  Ajay Kumar Maggidi    16 May 2022 at 08:28

With the Introduction of "Updated Return", tax department aimed to reduce the potential litigations that arise due to non filing of ITR or inaccurate ITR's. And, Helps the taxpayers to rectify the discrepancies in filed tax returns.

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Posted in Income Tax  9 comments |   9054 Views


Section 90: Register of Significant Beneficial Owners in a Company

  Ajay Kumar Maggidi    26 April 2022 at 10:20

Every Significant beneficial owner (SBO'er) shall declare the nature of his interest and other particulars to the company, which will in turn maintain the registers and inform the same to the ROC.

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Posted in Corporate Law |   2571 Views


Explained: All you need to know about AIS & TIS

  Ajay Kumar Maggidi    16 November 2021 at 09:42

The Income Tax Department has rolled out the new AIS & TIS, tax payers can now access the same at e-filing portal.

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Posted in Income Tax  4 comments |   19584 Views


Code on Wages, 2019 - Impact Analysis on Salary Structure, Take Home salary and Retirement Benefits

  Ajay Kumar Maggidi    27 September 2021 at 10:19

There is lot of buzz in the industry on effective date for implementation of new labor laws and their impact on existing Payroll policies, procedures and system..

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Posted in Corporate Law |   2037 Views


Tax treatment of interest income on PF contributions

  Ajay Kumar Maggidi    06 September 2021 at 09:25

Interest portion on PF contributions exceeding 2.5L is taxable under the head "Income from Other Sources". Taxable Contributions = ((Contributions in excess of 2.5L/5L*)+(Interest accrued thereon)-( Withdrawals)).

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Posted in Income Tax |   8430 Views


Important GST Activities of Sept 2021 - Monthly GST Returns

  Ajay Kumar Maggidi    30 August 2021 at 09:28

As we are entering into September, certain activities are to be done w.r.t GST returns for the FY 2020-21. This month is the last choice to make corrections in GST returns relating to sales or purchases.

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Posted in GST |   3387 Views




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