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 …
Hon. Finance Minister announced the budget on 23rd July 2024 and considering the changes made in the budget w.r.t. GST as well as income tax, the intension of the govt has been well-noted and exhibited. However, whether the real benefit of those intensions to reduce the litigation or provide amnesty scheme will be really benefitted …
Tax Deduction at Source (TDS) is a system, initially introduced by the Income Tax Department. It is one of the models/methods to collect tax, under which a certain percentage of amount is deducted by a recipient at the time of making payment or crediting the payment to the supplier. In indirect tax, the concept of …
As per Section 18(6) of the Central Goods and Service Tax Act, 2017 In case of supply of capital goods or plant and machinery, on which input tax credit has been taken, the registered person shall pay an amount equal to the input tax credit taken on the said capital goods or plant and machinery …
CBIC on recommendation of 53rd GST Council meeting has issued Circular No. 212/6/2024 dated 26th June 2024. The first reaction of Accounts Executive in the Company is “Ohh Teri” “My responsibilities have grown, but my pay hasn’t.” 😊. On the other hand, CA / CMA professionals must be happy for new avenues of business. Besides …
On 5th February 24 when Narendra Modi sought formal permission from the Chairman of the Rajya Sabha for speaking a little longer, the gesture on his part seemed a mere formality. The speech that he made that day was something significant and indeed longer than usual. That day he launched a blistering attack on the …
A Will and A Living Will: A Living Will is a contradiction in terms. A Will, as commonly known, is a compendium of your wishes when you are alive that are expected to get activated on your death. A Living Will on the other hand, is a collection of your instructions and wishes on mostly …
Introduction: The Government of India has specified the due dates to pay Goods and Services Tax. The due date to pay GST is different for different types of taxpayers. If one fails to pay GST within the due date, one must pay the interest along with the GST dues for the delay period. Relevant …
In the world of GST regulations, compounding of offences provides a unique mechanism for defaulters to escape major legal consequences. This article delves into the concept of compounding offences under the GST Act, 2017, elucidating the process, eligibility conditions, compounding charges, and various aspects of classification. Relevant Legal Provisions under GST: Chapter XIX of the …
In India every company incorporated under the Indian Companies Act, 2013 and erstwhile Act of 1956, which is limited by shares, is required to issue certain types of securities to its stakeholders, viz. equity shares, preference shares, debentures etc., depending upon various factors. These securities are issued by the Company either in physical or dematerialized …
Webinar on ‘Impact of decisions of 53rd GST Council Meeting & Landmark Decisions’ on 3rd July 2024 @ 3.00 PM Click here for registration:
Watch ‘Prospectus and Allotment of Securities Rules 2023 of the Companies Act 2013’ by CA Sharvan Biyani, Sr. Advisor, Bizsolindia Services Pvt. Ltd.
Click on the below link for summary of various circulars dated 26-Jun-24 issued by CBIC based on recommendation of 53rd GST Council Meeting: Summary of 16 GST Circulars issued on 26-06-2024
Click here to read Updates on 53rd GST Council Meeting
Watch ‘Legal Validity of issuing Second Notice for Same Assessment Year – Section 148 of the ITA’’ by Adv Nidhi Nawal, Director, Bizsolindia Services Pvt. Ltd.
Article on “Expectations from forthcoming 54th GST Council Meeting scheduled on 22nd June 2024” by CMA Ashok Nawal, Founder of Bizsolindia Services Pvt. Ltd. This is the long pending meeting after a long gap and lot of expectations from this meeting, since it is held just before the Indian Budget 2024-25 expected to be in …
Introduction: The Government of India has specified the due dates to pay Goods and Services Tax. The due date to pay GST is different for different types of taxpayers. If one fails to pay GST within the due date, one must pay the interest along with the GST dues for the delay period. Relevant Legal …
By the time you read this piece you would have already elected a new government to rule over you for the next five years, at the least. As always, there are also a number of intermediaries facilitating this process. For the purpose of what I want to say here, let me confine myself to the …
6 out of 10 GST taxpayers have completed their “GST Departmental Audit”. Followed by various observations like GSTR-2A reconciliation issues, Input tax credit availed from non-genuine taxpayer or registration canceled vendor, ITC reversals on account of Credit notes appearing in GSTR-2A, mismatch in Outward supplies vis a vis E-way bill issued, Wrong classification of goods, …
Bizsolindia Services Pvt. Ltd. has been honored with the "Maharashtra State Best Employer Brand Award 2026" at a prestigious ceremony held at Taj Lands End, Mumbai.
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