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GSTR-1A GSTR-1A is a document containing changes made to sales invoices reported in GSTR-1. The form was suspended within few months of implementing GST in the year 2017 but has been reintroduced in 2024. In this article, we discuss the following topics in detail: What is GSTR-1A? The Form GSTR-1A shall furnish, the flexibility feature in […]
Read MoreHow to file an adjournment online in the GST Portal Taxpayers can use these characteristics to view all circumstances by viewing all notifications, conclusions, payment details, confirmations, reports, and requests issued by the tax office during the audit for a particular case. To view all sent communications, complete the following steps for further filing the application in the GST Portal: Using the […]
Read MoreWaiver of Interest and Penalty on Demand Notices: – Association with penal demanded under Section 73 of the Act for the financial years ending 31st March 2018, 2019 and 2020 interest and penalty to be waived on the demand notices. – Available only for situations where taxpayer completes the payment of a certain […]
Read MoreWhat is Import Export Code (IEC)? The term Import Export Code (IEC) is a short form used globally to refer to a number of different licenses, permits, registrations, and certificates that are required for international business. The Import Export Code or IEC is a ten-digit number which is a special identification number that is very […]
Read MoreIntroduction to International Remittances in India Due to the steady growth of its economy and population, India is one of the highest remittance making countries in the world. The financial regulator of India, the Reserve Bank regulates as and when one sends money from abroad to India. Commonly, there are two ways to receive money […]
Read MoreWays to Save Income Tax on New and Old Tax Regime for FY 2023-24 In the financial year 2023-24, the taxpayers in India have a choice to select either the old regime of the income tax with provisions of performance of deductions & exemptions or the new regime of income tax with less number of […]
Read MoreDeduction in new regime: The New Tax Regime is new reforms in the income tax consideration introduced within the Union Budget of India in 2020. It supports lower rates of taxation in return for excluding nearly all deductions and incentives that are afforded under the pre–reform laws. The intended outcomes of this regime are namely […]
Read MoreDeductions in the Old Tax Regime The Indian taxes structure has evolved many times with the multiple tax systems having been implemented in order to enhance the ease of tax compliance. one such regime is the old or the previous tax regime which provides innumerable deductions to the individual with an aim to bring down […]
Read MoreBONUS ISSUE Bonus Issue is provided for in the section 63 of the Companies Act, 2013. Bonus shares are issued by way of utilizing the profits and reserves of the company and issuing shares against those profits. The main purpose is to utilize the reserves of the company for the company as well as please […]
Read More– Quarterly Compliances Regulation compliance Timeline Due dateQ1Ending June Due date Q2Ending September Due date Q3Ending December Due date Q4Ending March Regulation 31 (1) (b) Disclosure of shareholding pattern Within 21st day from the end of the quarter By 21st July By 21st October By 21st January By 21st April 27 (2) (a) Corporate Governmance […]
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