The saying goes, “a leader is one who knows the way, goes the way, and shows the way.” Today, as 638 seats underwent the test of democracy, the BJP emerged victorious in over 70% of them. This resounding victory reflects the trust that people have in the vision, work, and leadership of Prime Minister Narendra …
PM Modi’s Development Politics Sweeps the Nation Read More »
December 2023 Compliance Calendar of Income Tax Due Date Description Section 07-12-2023 “Due date for deposit of Tax deducted/collected for the month of November 2023. However, all sum deducted/collected by an office of the government shall be paid to the credit of the Central Government on the same day where tax is paid without production …
Important Income Tax & GST Compliance Deadlines for December 2023 Read More »
Income Tax (IT) department introduced a functionality that allows the taxpayers to discard their previously filed but unverified Income Tax Returns (ITR). The facility is available for AY24 onwards. What is ‘Discard ITR’? According to Income Tax website, a user can avail the option of “Discard” for the ITRs being filed u/s 139(1) /139(4) / …
Understanding the ‘Discard ITR’ Feature and How to Avail It Read More »
GST Portal Advisory for Two-factor Authentication for Taxpayers 1. GSTN is introducing two-factor authentication (2FA) for taxpayers to strengthen the login security in GST portal. The pilot rollout has been done for a state of Haryana and working seamlessly. Currently, 2FA will be rolled out for Punjab, Chandigarh, Uttarakhand, Rajasthan and Delhi in 1st phase. …
Advisory issued by GSTN on Two Factor Authentication (Password+OTP) for GST Portal Login Read More »
GST (Goods and Services Tax) is a comprehensive tax system implemented in India to replace multiple indirect taxes. This introduced the concept of Input Tax Credit (ITC), which allows taxpayers to claim credit for taxes paid on inputs used in goods or services produced or supplied. However, in some cases, the ITC claim may be …
Understanding the 60%/40% Rule for Input Tax Credit (ITC) Claims under GST Read More »
CA Intermediate and Final Nov 23 Exam result may be expected between 5th Jan to 10th jan
The GST Department has just implemented a significant revision on the GST Portal, specifically targeting Table 8A in the Annual Return GSTR-9. Here’s the lowdown: What’s Changed? Table 8A now undergoes a transformation in ITC computation methodology. The update integrates data sourced from suppliers’ GSTR-1/IFF/GSTR-5 filings, capturing information up to the latest cut-off date of …
The Indian stock market will remain closed today, on November 27, on account of Guru Nanak Jayanti. The trading will remain closed in equity, equity derivatives, currency derivatives and SLB segments today. Guru Nanak Jayanti, also called Gurupurab, is the most important festival for the Sikh community. It is celebrated to commemorate the birth anniversary of Guru …
Indian Stock Market Closed on Guru Nanak Jayanti: Market News and Insights Read More »
GST WEEKLY UPDATE : 35/2023-24 (26.11.2023) There are 3 categories of transporters in the e-Waybill System. They are: To ease the process of updating transporter Id, a common enrolment facility is provided in the e-waybill system as per Notification No. 28/2018 Dated 19th June 2018– Central Tax. In this, the GST registered transporters can club all their GSTINs and enrol …
GST Weekly Update: 35/2023-24 (26.11.2023) – E-Waybill System and Aadhaar Authentication Read More »
In a historic moment during the GloPAC Convention, the Institute of Chartered Accountants of India (ICAI) proudly revealed its new logo, ushering in a transformative era for the esteemed accountancy profession. This distinctive logo seamlessly integrates with the colours of the Indian national flag. This innovative design not only pays homage to the nation’s rich …
Guidelines for the use of new CA logo and colour significance Read More »