I wish you all a Happy New Year! May the year 2025 usher in unprecedented opportunities and unheard-of prosperity to all of us. It is a long time since our planet and its inhabitants has had a decent year of peace and tranquility. Shaktikanta Das demitted office as the Governor of Reserve Bank of India …
31st December 2024 Dear Dr Singh, You may not be used to see a letter of this kind though you might have been getting glorious communications during your illustrious career on earth and thereafter. With so many followers for you in this world of which an equal number as your ardent admirers, you may be …
The World of Influencers: Have you heard of Aitana? Does the name sound familiar? No? She is the beauty who is the envy of every woman and is the cynosure of all eyes of all men on our planet. She is all of 25, a pink-haired woman from Barcelona who receives private messages from all. …
In the recently concluded elections to the Maharashtra State Assembly there were some anticipated winners and some sore losers. However, the biggest winner of them all was the ruling dispensation’s “Ladli Behna Yojana”, a giveaway to the voters in anticipation of their voting for the party in power (in this case), otherwise known as “freebies”. …
Introduction: After the excitement associated with the elections, both at state and central, it is time now to let the inevitable fatigue to take over. It is also a time to take a hard look at where we stand as a country on many fronts. With every passing election, one gets an uncanny feeling that …
Impact on Recipient for non-payment of tax by the Supplier Rule 37A. Reversal of input tax credit in the case of non-payment of tax by the supplier and re-availment thereof : Background of Introducing Rule 37A of CGST Rules, 2017: Prior to the implementation of this Rule, suppliers would report their transactions in Form GSTR-1, …
Corporate social responsibility (CSR) is a vital element of business in India. With effect from April 1, 2014, CSR has become an obligatory requirement for certain companies under section 135 of the Companies Act, 2013, compelling them to engage in activities that contribute to the social, economic & environmental development of the country. In this …
In GST regime, more than 1.47 Crore businesses in India have been registered and issued GST registration. All entities having GST registration are required to file GST annual return having aggregate total turnover more than 2 Crores, except for few exceptions, irrespective of business activity or sales or profitability during the return filing period. GSTR …
Wish You All A Happy Diwali Prosperous New Year. The statue of Lady Justice, often found outside courthouses and law libraries in India represents the core principles of justice – fairness, impartiality and moral integrity. Lady Justice is typically depicted as a blindfolded woman holding scales in one hand and a sword in the other, …
What is Passive Aggression? It is no secret that one of the most challenging tasks for an organisation is in managing its employees. It is not because the employees are by nature recalcitrant or non-cooperative. It is because of those who are tasked with the job of training and motivating the employees are always found …
Shah Bano was a Muslim woman who was married to Mohamad Ahmed Khan, an affluent and well-known advocate from Indore. As luck would have it, she turned out to be a symbol in the constitutional struggle in a disorderly intersection of religious principles and individual rights as enshrined in a liberal democracy and the gendered …
In the recent times, it has been seen that the GST officers often asking the assessee to make the payment of tax during search/ inspection proceedings under sec 67 of the CGST Act by using threat and coercion. However, it is to be noted that there are no provisions under GST Law for advance payment …
There was this item of news in the newspapers that came to dominate the headlines recently, perhaps for all the wrong reasons. A young Chartered Accountant pursuing her career by name Anna Sebastian Perayil died in Pune allegedly because of overwork. Her mother wrote a heart wrenching note to her daughter’s employers (Earnst & Young …
Click here to updates on 54th GST Council Update
Corporate culture is the invisible but ever-present personality of a corporate entity during its lifetime through its shared values, beliefs, and behaviours that characterise an organisation. It is the unique personality of a company that shapes its interactions, decision-making processes, and overall atmosphere within and outside the organisation itself. Think of the company’s culture as …
Sec 129 of the CGST Act provides for the provisions relating to detention or seizure of goods or conveyances” or both in case of certain defaults under the GST law. In common parlance, meanings of the terms – detention and seizure are understood as under: Detention means keeping or holding back either by force or …
Reverse Charge Mechanism (RCM) is a provision under the Goods and Services Tax law where the liability to pay tax is shifted from the supplier to the recipient of goods or services. This mechanism is particularly applicable in cases where the supplier is unregistered or in specific notified supplies. Legal Provision – Section 9(3) of …
Recently the GSTN portal has issued a new advisory Invoice Management System (IMS). IMS will provide the preview of GSTR-2B based on the invoices (including credit/debit notes) saved by supplier in GSTR 1, IFF, or 1A and enable taxpayers to review and take action before they are reflected in GSTR 2B. This IMS system is …
Last month, I was away on sabbatical missing in the process my editorial piece for Bizsol Update. That said, it is necessary for me to mention where I had been to, for a particular reason. I was on a backpack tour of the Eastern belt spanning South Korea, Taiwan and Indonesia. We had to cancel …
On July 23rd, the Modi 3.0 Government presented their first Union Budget of their third consecutive term. The Union Budget was delivered by Mrs. Nirmala Sitharaman, the Finance Minister of India. This marked her seventh consecutive budget presentation, setting a record as the first Finance Minister to achieve this milestone. While her tenure as Finance …
