GST Portal Update: GSTR-3B Will Be BLOCKED for ITC / RCM Ledger Mismatch Goods and Services Tax Network has introduced system-based validations in GSTR-3B filing for Electronic Credit Reversal & Reclaim Ledger & Reverse Charge Mechanism Liability & ITC. Goods and Services Tax Network has moved from soft warnings to hard system validation. If the …
Compliance obligations for taxpayers for the Month of December 2025 December is one of the heaviest compliance months for taxpayers, businesses, NRIs, and professionals in India. With multiple deadlines across income tax, TDS/TCS, advance tax, and reporting requirements, staying updated is crucial. 7th December 2025 : Income Tax – TDS Payment for deductions made in …
Transition from Original GST (2017) to New GST 2.0 Framework (2024–26): GST 1.0 vs GST 2.0 What is GST 1.0? : GST 1.0 refers to the original GST framework launched on 1 July 2017, which focused on multiple return forms, self-declaration-based credits, the invoice matching concept (never fully implemented), frequent disputes due to mismatches, transitional …
Supreme Court Ruling protecting practicing CA’s on issuing form 15cb is not money laundering under PMLA The Supreme Court has delivered an important ruling protecting practicing chartered accountants from unwarranted criminal prosecution under the Prevention of Money Laundering Act (PMLA). This recent Supreme Court ruling brings significant clarity for chartered accountants. The Court has held …
CAs may Soon Get to Advertise their CA Firms The article emphasizes that this change will modernize the profession, improve client awareness, and create a level playing field for Indian firms globally. Summary of Key Points Regulatory Change Underway : The government is likely to amend laws governing chartered accountancy to relax restrictions on advertising …
Comparison of GSTR-1, GSTR-3B, GSTR-2A & GSTR-2B Difference of GST returns (GSTR-1, GSTR-3B, GSTR-2A, and GSTR-2B) along with their filing dates and key characteristics. Here’s a structured breakdown: Return Type Purpose Filed By Nature Frequency Due Date / Availability Remarks GSTR-1 Statement of outward supplies (sales) made Supplier of goods/services Filed return Monthly / Quarterly …
Why and How to Avoid Useless Expenses This Diwali – A Nature Lover’s Perspective October 2025 Diwali, the festival of lights, is a time for joy, togetherness, and celebration. But for many, it also becomes a season of overspending driven by social pressure, impulse buying, and the desire to make everything “perfect.” Diwali is just …
Simplified GST Registration Scheme for small and low-risk businesses in India, A new optional scheme approved by the GST Council on 3 September 2025 to simplify GST registration for “small and low-risk” applicants. The idea is to grant GST registration automatically by the system (with minimal manual checks) for eligible applicants, instead of long/complex verification. …
GST Changes Coming in GST from October 2025 No Auto ITC in GSTR-2B : Until now: Input Tax Credit (ITC) auto-appeared in GSTR-2B (based on suppliers’ filing). From Oct 2025: ITC won’t auto-flow. This is to be noted that as per New Rule: Only invoices that you accept in IMS (Invoice Management System) will count …
Meaning, Applicability & Filing Process of Form 15CA & 15CB When an individual or business sends money to a Non-Resident Indian (NRI) or a foreign entity, the sender is often required to file Form 15CA and Form 15CB with the Income Tax Department. These forms are vital for tracking foreign remittances and ensuring compliance with …