Article on ‘Show Cause Notice (SCN) Under GST’ by CA Abhishek Malpani, Bizsolindia Services Pvt Ltd (November 2023)
Currently lot of taxpayers has received Show Cause Notices for the financial year 2017-18 as due date of issuing SCN for FY 2017-18. Department is not even considering the submission made by the taxpayers before issuing SCNs. Due to this, ...
From the Desk of Chairman (November 2023)
The ongoing Israel – Hamas war was something that was waiting to happen. The first instinctive question that crops up is why this war and why now? There is nothing about the ongoing war that has not been analysed threadbare ...
Article on ‘Impact of Remote Work on Organisational Culture’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd.( November 2023)
CHALLENGES BEFORE THE HUMAN RESOURCE DEPARTMENT Even those who may have difficulty in defining organisational culture in precise terms with its varied hues and indeterminate characteristics, will have no hesitation in admitting to the fact that great organisations have been ...
Article on ‘Conversion of DTA Unit to EOU with pending EPCG obligations – Issues and solutions’ by CA Manoj Malpani, Director, Bizsolindia Services Pvt. Ltd. (November 2023)
Background There are various schemes under the Foreign Trade Policy 2023 like Advance Authorisation (for raw material & components), EPCG (for capital goods), Export Oriented Unit (for raw material, components and capital goods). By availing these schemes read with corresponding ...
Article on ‘Explainer: How JPMorgan’s Decision to Include Indian Government Bonds Affects India.’ by Adwait Venkitachalam, Director, Bizsolindia Financial Services Pvt Ltd. (October 2023)
JP Morgan Chase & CO, the US-based financial services behemoth, announced late September, 2023 that they had decided to include certain Indian Sovereign Bonds in its Global Bond Index – Emerging Markets (GBI-EM) Index starting 28th June 2024. This inclusion ...
Article on ‘How to handle ITC mismatch for the period prior 1st January 2022’ by Adv. Kiran Sawale, Sr. Advisor, Bizsolindia Services Pvt. Ltd.(October 2023)
Matching ITC with GSTR-2B has been made mandatory effective from 1st January 2022 by inserting clause (aa) in section 16(2) of CGST Act, 2017. Prior to this amendment, though GST Act has not made it mandatory but Rules,36(4) was inserted ...
Article on ‘GST Changes applicable from 1st Oct 2023’ by CA Abhishek Malpani, Advisor, Bizsolindia Services Pvt Ltd (October 2023)
Section 10 CGST Act, 2013 Composition levy extended to suppliers of goods under ecommerce model: Benefit of composition scheme which was earlier not available to registered persons engaged in supplying goods through Ecommerce operator shall be extended to them. However, ...
Article on ‘Reassessment of Income under Income Tax Act, 1961 – Sec 148A’ by CA Preeti Kulkarni, Director, Bizsolindia Services Pvt Ltd (October 2023)
Procedure for Reassessment of Income under Income Tax Act, 1961 has been provided under Sec 147 to 153, wherein Assessing Officer (AO) can reassess the Income which has escaped assessment done earlier. These provisions of reassessment has been revamped by ...
Article on ‘Legends who Shaped the Economic Landscape of The World’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt. Ltd. (October 2023)
Adapted From the Book “What Would the Great Economists Do”? By Linda Yueh One of the most challenging questions that keeps haunting me all the time is one for which the answer is known but not a satisfactory one. With ...
From the Desk of Chairman (October 2023)
The recently released RBI data shows the household savings plummeting to the lowest level in fifty years triggering alarm bells. Indian households saw their financial assets which include bank savings, cash and investments shrink to 5.1% of the country’s GDP ...
Article on ‘All about GTA under GST’ by CA Abhishek Malpani, Advisor, Bizsolindia Services Pvt. Ltd. (October 2023)
There are important changes for RCM liability for GTA considering forward charge optionality to GTA. Kindly go through below changes carefully & do necessary changes in for GTA RCM working. Option to pay GST under forward charge for GTA services ...
Article on ‘GST Appellate Tribunal’ by Nidhi Nawal, Director, Bizsolindia Services Pvt. Ltd. (October 2023)
After a six-year period of anticipation, the establishment of the GST Appellate Tribunal is constituted. It promises the world of taxation, a more streamlined and robust resolution process for tax-related issues. The GST Appellate Tribunal in various states has been ...
Article on ‘All About “Electronic Credit Reversal and Reclaimed Statement” in GST – Do’s and Don’ts’ , by CMA Amit Devdhe, Sr. Advisor, Bizsolindia Services Pvt Ltd. (September 2023)
Over the period of time, the GST council is focusing on correct Input Tax credit by the taxpayers. Further, they want to control the credit availment of fake transaction in the overall chain. To enhance the compliance with regards to ...
Article on ‘GST on transactions between head office and branches under GST (Cross Charge)’ by CA Manoj Malpani, Director, Bizsolindia Services Pvt Ltd (September 2023)
The background The GST Act has merged taxability of goods and services under one act. Under GST, the taxable event is “supply of goods or services” from one taxable person to another taxable person. Section 7 of the CGST Act, ...
Article on ‘The Construct Of Basic Structure In The Indian Constitution’ by CS Venkat R Venkitachalam, Chairman, Bizsolindia Services Pvt Ltd (September 2023
THE ORIGIN AND THE EVOLUTION In our growing up years whenever we had occasions to learn the elementary lessons in Civics, I used to wonder how a great nation like the UK could function and thrive without a written Constitution, ...
From the Desk of Chairman ( September 2023)
One of the disappointments that has been weighing down the Indian collective psyche was the failure of Chandrayaan 2 that crash landed on the moon on 6th September 2019. The country’s PM returning dejected from the space station with the ...
‘GST Appellate Tribunal in various states has been announced’, by CMA Ashok Nawal, Founder, Bizsolindia Services Pvt Ltd. & Nidhi Nawal, Director, Bizsolindia Services Pvt. Ltd.
GST Appellate Tribunal in various states has been announced ...
‘All about Digital Personal Data Protection Bill’, by CMA Ashok Nawal, Founder, Bizsolindia Services Pvt. Ltd.
All about Digital Personal Data Protection Bill ...
‘No Interest, No Penalty can be levied under Customs Act | Landmark Decision’ by CMA Ashok Nawal, Founder, Bizsolindia Services Pvt. Ltd.
No Interest, No Penalty can be levied under Customs Act | Landmark Decision ...
