CAclubindia Articles

Maryada of Taxation for Businesses

CA Umesh Sharma 15 April 2024 at 14:02

What are the various Income Tax and GST Maryadas (Limits) that the taxpayers must know?

Are Hotels Overpaying Taxes?

Khush Trivedi 15 April 2024 at 10:54

As we all are aware Hotel Industry is one of the dominating Industries in India Having Market size(2024) of 247.31 Billion USD & which will be around 475.37 Billion USD by 2029 with CAGR of 13.96%. Pre-GST Hotel industry need to pay municipal taxes (VAT, luxury tax, and service tax) under the previous VAT regime.

GST Audits And Top 5 Practical Difficulties Faced By Taxpayers During Audit

CA Shruti Singhal 15 April 2024 at 08:44

GST audits are regularly undertaken by the department under Sec 65 of the CGST Act. These audits are conducted by the department either at their own premises or at the premises of the taxpayer.

Unveiling the Potential to Profit with GenAI: Embracing AI's Future

Sundaran.D 15 April 2024 at 08:43

This article explores the potential of GenAI and its implications for businesses looking to thrive in the digital age.

Understanding the Impact of Unspecified Details in a Show Cause Notice

Abhishek Raja 13 April 2024 at 06:49

A Show Cause Notice is a significant instrument in maintaining due process within organizations, courts, and various administrative actions. It serves as a formal communication requiring an individual to explain or justify their actions or conduct, which is allegedly in violation of company rules or codes of conduct.

How to Navigate Modified ITR for Business Reorganization: A Guide Until June 30, 2024

Vivek Jalan 13 April 2024 at 06:38

Modified ITR for Business Reorganization from June 2016 to March 2022 possible until June 30, 2024. Taxpayer to communicate to Jurisdictional Assessing Officer (JAO) by 30th April 2024.

Unveiling India's Real Estate Appeal: Simplified Taxes and Indexation Benefits for NRIs

CA Arun Tiwari 13 April 2024 at 06:38

This article delves into the reasons behind NRIs' interest in India's real estate, focusing on simplified taxes and indexation benefits.

GST Advisory on Re-filing GSTR-3B

CA Anoop Kumar Sharma 12 April 2024 at 17:08

The Goods and Services Tax (GST) Department has recently sent out an advisory to specific GST taxpayers about the first chance given to correct errors in their previously filed GSTR-3B forms. This facility was provided due to discrepancies found between the data stored in the GST system and the data that was actually submitted regarding ITC claims, tax payments, etc.

For Tax Filing - Analyze the Old & New Tax Regime

Affluence Advisory 12 April 2024 at 08:36

Lately, a lot of confusion has sparked on various internet platforms regarding the tax changes for the financial year (FY) 2024-25. However, the Ministry of Finance has put that to rest by putting out a clarification vide its Twitter handle that there are no changes on the tax rates as on 01.04.2024.

Importance of Decision-Making information in SMEs: Harnessing the Power of Data-Driven Decision-Making

Sundaran.D 12 April 2024 at 08:36

In a dynamic and increasingly globalized business world, unforgiving small and medium-sized enterprises (SMEs) are constantly dealing with many problems. challenges that hinder their growth and sustainability. Every decision in the operation of small and medium-sized enterprises, which limits the use of fierce competition, can affect their development.