GSTN Advisory on discrepancies between Table 8A and Table 8C in Form GSTR-9 The GSTN has issued a detailed advisory to address taxpayers’ concerns about discrepancies between Table 8A (auto-populated from GSTR-2B) and Table 8C (manually entered for Input Tax Credit claimed in subsequent FY) in Form GSTR-9 for FY 2023-24. The GSTN Advisory No. …
Statutory Compliance Calender for Dec 2024 Major Compliance Due Dates: December 2024 Date Day Act Particulars 07.12.2024 Saturday Income Tax Deposit Tax Deducted at Source TCS for November 2024. Submission of Form 27C (no TCS declaration). Equalisation Levy Deposit equalisation levy for November 2024. FEMA Report ECB transactions through Form ECB-2 return. 10.12.2024 Tuesday Goods …
How T2T Stocks Function in the Indian Stock Market Context In the Indian stock market, T2T stocks (Trade-to-Trade stocks) refer to a specific category of stocks where intraday trading is not permitted. Trade-to-Trade stocks are subject to stricter trading norms, designed to curb speculative trading and protect investors. Understanding how T2T stocks operate can help …
Sale certificates issued by courts or public authorities function as documentary evidence of title The Supreme Court’s ruling in The State of Punjab & Anr. v. M/s Ferrous Alloy Forgings Pvt. Ltd. provides significant clarification regarding the issuance, registration, and applicability of stamp duty on sale certificates issued pursuant to court-ordered auctions. The Supreme Court’s recent …
PAN 2.0 Project- Aims, benefits & who should apply? PAN 2.0 Project, approved by the Cabinet Committee on Economic Affairs on November 25, 2024, is a key e-governance initiative aimed at modernizing the taxpayer registration system in India. In essence, PAN 2.0 is a crucial step towards digital transformation, designed to improve taxpayer services, make …
Top 5 Reasons to Use an FD Interest Calculator Today Fixed Deposits (FDs) remain one of the safest and most reliable investment options, especially for individuals looking to preserve their capital while earning stable returns. However, understanding how much your FD will grow over time requires clarity on interest rates, tenure, and compounding frequency. This …
Filing a Belated Income Tax Return: Key Details If you’ve missed the deadline to file your Income Tax Return (ITR), you can still file it as a belated return under Section 139(4). While filing the belated return, you must select Section 139(4) of the Income Tax Act. What is a Belated Return? A belated return …
Integration of Parcel Management System with E-Way Bill System The integration of the Parcel Management System with the E-Way Bill system by Indian Railways and GSTN is a significant development aimed at improving the efficiency and accuracy of goods transportation under GST compliance. Indian Railways’ Parcel Management System (PMS) is now seamlessly integrated with the …
Input Tax Credit & GST Refunds for zero-rated supplies Input Tax Credit (ITC) ITC is the mechanism under the Goods and Services Tax system that allows businesses to claim a credit for the GST paid on their purchases of goods and services, which are used for business purposes. This system ensures that businesses involved in …
Complete Understanding Special Economic Zones (SEZs) in India Special Economic Zones (SEZs) are designated duty-free areas that operate as liberalized economic hubs to promote foreign investments and exports. These zones are governed under the Special Economic Zone Act, 2005, and provide enterprises with significant benefits and exemptions from various economic, tax, and corporate laws. A …