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Software (IT)What You Need to Consider When Choosing a Workflow Management Software
Workflow management software is a system that helps improve workflow management throughout your organization. They can provide business structure by organizing everything employees need to do in one location, helping to clear up time-consuming paperwork, and freeing staff members to focus on the most important
GST ComplianceGST Returns Due Dates for GTSR 1 and GSTR 3b
GSTR 3B New Updates: July 2022: 5 important changes incorporated into GSTR 3b #1. Filling the date related to inter state supply to unregistered person, COmposition dealer and UIN holders This information is required in table 3.2 of GSTR 3b. But many taxpayers skip this
CA Shafaly GirdharwalIncome Tax Search and Seizure: “Insertion of Section 79a”-Plugging of Lacuna by the Finance Bill 2022
Introduction:- In the Union Budget 2022-23 through Finance Bill 2022, among other tax measures, the Hon’ble Finance Minister recommended: “Insertion of New Section 79A: – No set-off of losses consequent to search, requisition, and survey”. Para 136 of the Hon’ble Finance Minister’s Speech denotes the
342nd Issue: 20th March 2022- 26th March 2022
The Government of India has introduced the tax implications for cryptocurrency for the first time in the Union Budget 2022, while the Internal Revenue Service (IRS) of the United States (US) first addressed cryptocurrencies in 2014. Let us see the differences in the income tax
341st Issue: 13th March 2022- 19th March 2022
The goal of every tax administration is to foster voluntary In a significant step towards Atmanirbhar Bharat, the Central Board of Indirect Taxes & Customs (CBIC) has reduced the compliances required under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules, 2017 and
340th Issue: 6th March 2022- 12th March 2022
The goal of every tax administration is to foster voluntary compliance with the tax law, and it seeks to accomplish this through a mix of measures directed at rendering high-quality service to the taxpayers, putting in place a fair and responsive administration, and establishing a
339th Issue: 27th February 2022- 5th March 2022
Over the past six months, the taxpayers witnessed the gradual implementation of various e-invoicing provisions based on the turnover of the taxpayers. Various notifications have been issued, prescribing the taxpayers, to comply with e-invoicing requirements. The CBIC lowered the threshold for mandatory issuance of e-invoice
130 Blocking of Credit Ledger Cannot Result in Creating Negative Balance in Credit Ledger
SAMAY ALLOYS INDIA PVT. LTD. VERSUS STATE OF GUJARAT [2022 (2) TMI 843 – GUJARAT HIGH COURT] Whether Credit Ledger under Rule 86A can be blocked beyond the amount available balance in Credit Ledger resulting in Negative balance in Credit Ledger Hon’ble Court and Judicial
338th Issue: 20th February 2022- 26th February 2022
Since the implementation of GST, the claim of the input tax credit has witnessed multiple amendments with Government’s intention to allow ITC on invoices/debit notes which are uploaded by the suppliers in GSTR-1. At the inception of GST, the availment of ITC was envisaged as
TDS U/s 194r & Its Impact on Large & Small Business
In the recent budget in Income Tax, it is proposed to impose a TDS on business promotion expenditure expended by an organisation. It has far-reaching implications, even in the hands of the recipients of the business promotion Expenditure. Here we have discussed not only the
337th Issue: 13th February 2022- 19th February 2022
The newly proposed Section 194R of the Income Tax Act in its present form would be a big compliance challenge for businesses as there are multiple types of perquisites & benefits that are extended to their dealers/ distributors/agents/ channel partners etc with the objective of
Union Budget 2022-23- Proposed Changes Relating to Income Tax Search and Seizure Provisions
Introduction The Hon’ble Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2022-23 of India on the 1st of February, 2022 with an aim to boost growth amid continued disruption from Covid-19 and rising inflation. The Hon’ble Finance Minister mentioned that the country is