CA NARESH KUMAR SANKHLA

Recent GST Notification for a Special All-India Drive:-  A Special All-India Drive may be launched by all Central and State Tax administrations during the period 16th May 2023 to 15th July 2023 to detect suspicious / fake GSTINs and to conduct requisite verification and further remedial action to weed out these fake billers from the GST eco-system and to safeguard Government revenue.  Basic Things for GST registered persons:-  1. Mention GST number on Sign bord.  2. Display of Registration Certificate on prompt place.  3. Filing of GST returns on timely basis.  4. Maintain purchase and sales bills in proper file or folder.  5. If any additional place of business or godown then same to be updated on GST registration certificate. For regular updates click here  More details

Let's start with Walmart as an illustration of a business that has successfully employed big data to enhance its supply chain. Walmart can forecast consumer demand and improve its inventory management procedures by employing data analytics to track weather patterns, traffic, and social media trends. As a result, the company has been able to improve on-shelf availability and decrease stockouts, which has increased sales and customer satisfaction. Data can be used by small businesses to obtain comparable outcomes. These companies also have access to a variety of sources that may be used to collect data for analysis, such as email marketing reports, sales receipts, social media analytics, website analytics, streaming data from connected devices, publicly accessible data, and data lakes.  Small firms may use data analytics to make better decisions, understand consumer behavior's, and ultimately increase performance and profitability by utilizing various data sources. Big data can

In the 49th GST Council meeting held on February 18, 2023, the council recommended an amnesty scheme for taxpayers with pending GSTR-4 returns.  The scheme aims to offer conditional waiver or reduction of late fees to help taxpayers clear their pending returns. CBIC Issues Notification to Implement Amnesty Scheme The CBIC has issued the Notification 2/2023, to bring the amnesty scheme into effect. The notification outlines the benefits and conditions for availing the scheme. This Notification amends earlier Notification 73/2017 and inserts a new proviso to waive late fees payable in excess of Rs 500/- under Section 47 of the CGST Act by a registered taxpayers for failure to furnish the return in Form GSTR-4 for the perid July 2017 to March 2022 by the due date. Further, such late fee is fully waived where the total amount of central tax payable in the Form GSTR-4 is NIL. To avail the amnesty, the taxpayer has to file all the pending returns in Form GSTR-4 during the period from April

In order to provide some more time to the taxpayers, the date for linking PAN & Aadhaar has been extended to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions.  From 1st July, 2023, the unlinked PAN shall become inoperative with consequences. The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs. 1,000

Discover the top 10 reasons why having health insurance in India is crucial for your financial and physical well-being. From comprehensive coverage to tax benefits, we'll explore everything you need to know. Health insurance is a crucial aspect of financial planning in India. With medical costs on the rise, having health insurance can provide you with the financial security you need to cover unexpected medical expenses. In this article, we'll explore the top 10 benefits of having health insurance in India. Peace of Mind: With health insurance, you can have peace of mind knowing that you and your family are protected in case of unexpected medical emergencies. Comprehensive Coverage: Health insurance plans in India offer comprehensive coverage for a wide range of medical expenses, including hospitalization, diagnostic tests, and outpatient procedures. Cashless Treatment: Many health insurance plans in India offer cashless treatment options, which means that you won't have

The Pension Fund Regulatory and Development Authority (PFRDA) has mandated that certain documents be uploaded by subscribers as of April 1, 2023 in order to speed up and simplify annuity payments after leaving the National Pension System (NPS). The pension organization stated in a circular dated February 22, 2023, "The upload of the papers shall be necessary with effect from April 1, 2023 in the interest of Subscribers and to benefit them with the prompt distribution of annuity income." What modifications affect NPS customers? The PFRDA has requested that the following papers be submitted to the appropriate Central Record Keeping Agency by the subscribers and any connected nodal offices, POPs, or corporations (CRA) interface for use. The following files must be uploaded: A NPS exit/withdrawal form, Proof of identity and residence as stated on the withdrawal form,  Evidence of a bank account, and  a copy of the PRAN card are all required. How soon will the new NPS regulation t

On February 21, 2023, Singapore's PayNow network and India's Unified Payments Interface (UPI) retail payment system were connected to allow for quicker remittances between the two countries. Users from both nations will be able to access faster and more affordable cross-border remittances thanks to this linkage. The facility was introduced by Reserve Bank Governor Shaktikanta Das and Monetary Authority of Singapore Managing Director Ravi Menon through token transactions utilising the UPI-PayNow interface. Prime Ministers Lee Hsien Loong of Singapore and Narendra Modi of India virtually attended the inaugural event.