Read more about the article November 2024 Tax Compliance Deadlines for Income Tax and GST | Important Dates for Businesses

November 2024 Tax Compliance Deadlines for Income Tax and GST | Important Dates for Businesses

Tax deadline compliance is something that business entities and individuals need to recall. In November 2024, GST and Income Tax filing deadlines require great attention so that both of them will not cross the deadlines. If deadlines are not complied with, fines, interest, and increased scrutiny from the tax officials can be faced by the people. Here are some major compliance dates which are applicable in the month of November 2024. All deadlines are to be well understood for financial record management and to meet the required statutory compliances. Saptax Hub, the best CA firm in Delhi, guides you on…

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Read more about the article Odisha GST Registration: Biometric Aadhaar Authentication & Document Verification Guide

Odisha GST Registration: Biometric Aadhaar Authentication & Document Verification Guide

The government of Odisha recently released an advisory on Biometric-Based Aadhaar Authentication and Document Verification for applicants under the Goods and Services Tax. From now onwards, this is going to be a very important factor for every business and individual who wants to take advantage of goods and services tax registration. This new directive will serve the purpose of simplifying the process, ensuring authentic registrations, and checking fraudulent activities. Here below is the detailed clarification, explaining to the applicants what it entails and what they need to do to come up to the mark. Biometric-Based Aadhaar Authentication: Game Changer Biometric-based…

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Read more about the article Key Amendments in Input Tax Credit (ITC) under Finance Act 2024

Key Amendments in Input Tax Credit (ITC) under Finance Act 2024

The Finance Act, 2024, was brought to India to incorporate amendments in the GST law. And certainly, it brought changes regarding the input tax credit (ITC). It has brought an amendment regarding Section 16(5) and Section 16(4), which is to be given effect from September 27, 2024, whereby an amendment has been made that extends the deadline for claiming ITC. The changes have come to bring more flexibility in taxpayers' hands and make them fulfill the conditions as prescribed under the GST law. What is input tax credit (ITC)? Input tax credit refers to the reduction allowed the taxpayer of…

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Read more about the article GSTN e-Services App: A New Digital Solution for Streamlined GST Compliance

GSTN e-Services App: A New Digital Solution for Streamlined GST Compliance

A recent GSTN advisory discloses that the newly launched e-Invoice QR Code Verifier App is soon going to be replaced by the new GSTN e-Services App. This new change is in line with activities undergoing to get more efficiency and user-friendly GST services. For now, we are going to discuss why this change matters and how one should prepare for the transition in our next blog post. The new change ensures that the taxpayer and business remain compliant and can take full advantage of the digital services that the GST offers. Understanding this shift. What is the purpose of the…

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Read more about the article Gauhati High Court Ruling on CGST Limitation Period for FY 2018-19

Gauhati High Court Ruling on CGST Limitation Period for FY 2018-19

Recently, the Gauhati High Court has passed an important judgment relating to limitations for the financial year 2018-19. The court has held in its decision that any orders passed after the statutory limitation period without an extension notification being issued under Section 168A of the Central Goods and Services Tax (CGST) Act would be invalid. The judgment is very crucial for both the taxpayers as well as the authorities concerned. The Core Issue: The case rested on the non-extension of the limitation period for the fiscal year 2018-19. Under the CGST Act, there are certain timelines within which orders for…

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Read more about the article Key Highlights from the 54th GST Council Meeting: Relief for Businesses

Key Highlights from the 54th GST Council Meeting: Relief for Businesses

The recent 54th meeting of the GST Council was conducted, and its highlight was to bring respite across industries in India. Major decisions taken at the meeting were inclined towards being helpful for the businesses and also to boost economic growth. Here's a look at the key highlights from the meeting: Key Changes Announced: 1. Relief for Exporters The council agreed to ease the process for the exporters. This means simpler procedures for refunds, which ascertains that companies don't have to wait longer than they ought to just to get their tax returns. The government is keen on promoting exports…

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Read more about the article GST Registration for Freelancers and Consultants

GST Registration for Freelancers and Consultants

Many freelancers and consultants are confused about whether they need to get any registration against Goods and Services Tax or GST. Most of them have misconceptions that GST is for big businesses only. But when the income crosses a certain limit, then you need to get registered under GST. In India, it just feels like Goods and Services Tax gets applied on everyone having an income source, even freelancers. Here, we will explain how GST registration works for freelancers and consultants. We'll keep this explanation very simple. By the end, you shall know why and how you can get GST…

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Read more about the article Understanding Legal Impact: Communications Without a DIN According to Andhra Pradesh High Court

Understanding Legal Impact: Communications Without a DIN According to Andhra Pradesh High Court

What is a DIN? Communication issued by a tax department has a unique code called the Document Identification Number (DIN). This assists in monitoring and authenticating documents so that they can be proven as genuine and can be traced. The DIN system was adopted to enhance openness and curb fake tax information communication.  If you are confused regarding GST registration in Delhi and other related works this blog can provide you with some clarity. Importance of DIN: The DIN is important since it proves that the notification is authentic and is from the tax authorities. A document that does not…

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