, ,

UDIN – Everything a CA needs to know

UDIN or unique Document Identification Number is a 15-digits unique no. introduced and developed by Professional Development Committee of the Institute of Chartered Accountants of India which would be generated by the system for every document certified and attested by a practicing Chartered Accountant. UDIN system was implemented by ICAI on a re commendatory basis on 1st July 2018 but in view of the increasing instances of fraud and forgery involving the stamp and signature of Chartered Accountants, ICAI has made it mandatory for all the practicing…
, ,

E-Form ACTIVE – Everything you should know about it

E-Form ACTIVE (Active Company Tagging Identities and Verification) was introduced by the Ministry of Corporate Affairs (MCA) and according to a recent notification of MCA, e-form ACTIVE (INC-22A) must be filed by all the companies whether public, private, Government or One person Company, that was incorporated on or before 31 December, 2017. Due Date to file E-Form ACTIVE: All the companies that pass the eligibility criteria should furnish the particulars and address of the registered office in E-Form ACTIVE before 25 April 2019. In case…

FSSAI - How to Register for it?

What is FSSAI? Food Safety and Standards Authority of India (FSSAI) is an organization established under the Food Safety and Standards Act,2006 to maintain the safety and quality of food items for the benefit of consumers. FSSAI set standards for hygiene and safety to ensure safe and quality food in any food business. FSSAI Registration: FSSAI Registration is a 14-digit registration number printed on food packages. This registration is mandatory for every food business operator involved in any activity related to food items such as processing,…

Details of inter-State supplies made to unregistered persons in Table 3.2 of FORM GSTR-3B and Table 7B of FORM GSTR-1

A registered supplier is required to mention the details of inter -State supplies made to unregistered persons, composition taxable persons and UIN holders in Table 3.2 of FORM GSTR-3B. Further, the details of all inter-State supplies made to unregistered persons where the invoice value is up to Rs 2.5 lakhs (rate-wise) are required to be reported in Table 7B of FORM GSTR-1. 2. It has been brought to the notice of the Board that a number of registered persons have not reported the details of inter-State supplies made to unregistered persons…
Stamp Duty

Unified Stamp Duty on Stocks – What you need to know as an Investor

In the latest budget, the Government of India has simplified the stamp duty collection procedure with the introduction of Unified Stamp duty on the stocks. Put it simple, the decision means that all the stock exchanges in the country would not collect the stamp duty at a single rate and the proceeds have to be deposited with the Central Government. Now, the Central Government would divide the proceeds amongst the states as agreed. According to the current structure the stamp duty is collected by the brokers at fixed rates and these rates are…
Income Tax

Here is the Revised Income Tax Slab for 2019-20

Income tax slabs are the rates on the basis of which individual taxpayers are required to pay tax to the Government of India. The applicable rates for the relevant assessment year are announced by the finance minister in the interim budget. Likewise, the income tax slab rates for Financial Year 2019-20 and assessment year 2020-21 was announced on 1st Feb 2019 by Mr. Piyush Goyal in the interim budget in the Parliament. The income tax slab rates are directly related to an increase in the income slab. Income tax slab rate for an assessee depends…
Voter ID

Above 18 Years – Here is how you should Enroll for Voter ID Card

A Voter ID card is an identity proof issued to the citizens of India who are eligible to cast vote in the upcoming elections. This card is issued by the Election Commission of India. Voter ID card is also known by many other names such as Election Photo Identity Card, election card or Voter’s card and contains a unique serial number and important details of the voter like the photograph, name, date of birth and gender etc. on the front side and residential address and signature of issuing authority on the back side of the Voter’s ID Card. Only…

Importing Invoices from e-Way Bill System into Form GSTR-1

Taxpayers supplying taxable goods valued of Rs. 50,000 and above, generate e-way bills, where details of invoices have to be given by them. Further, the invoice details for business to business sales, made by them, have to be given in Form GSTR-1. To avoid duplicate data entry, GSTN has provided a facility to taxpayers, where months e-way bill data can be imported by the taxpayer in their Form GSTR-1 (which is required by a taxpayer to fill up the Form). While generating EWB details of supplier, receiver & other invoice details like number,…

GST Practitioner – Which exam should you pass to become one

The examination of Goods and Service Tax Practitioners (GSTPs) is a computer based examination conducted by The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) for confirmation of enrollment of GSTPs. Every person who has enrolled as GST practitioner under the current regime for not less than 5 years on the GST common portal is required to clear this exam otherwise their enrolment ID will not be held as a valid ID. A look at the Registration Process All the eligible GST Practitioners can register for the examination by…