Statutory Compliance Calendar (Due Dates) for the month of November 2022

Also note, due date for the following:
a. GSTR-7 TDS Deductor - Oct 2022 : 10/11/22
b. GSTR-8 TCS Deductor - Oct 2022 : 10/11/22
c. GSTR-6 Input Service Distributor - Oct 2022: 13/11/22
d. Filing of Income Tax Return for AY 22-23 for Transfer Pricing Cases - 30/11/22

GST collections touched Rs 1.52 lakh crore in Oct 22

A thread about 'TAN' to help you understand what is TAN & its structure

18 tips to get clients for your tax office for free and earn 25 lacs+

Click https://youtu.be/9_tB5CgPyPs

Learn about the structure of PAN

Lets learn about Electronic Cash Ledger through this 🧵

Every deposit made by a person by internet banking or by using credit or debit cards or NEFT or RTGS or by over the counter deposit on account of tax, interest, penalty, fee or any other amount is credited to the respective electronic cash ledger.

The amount available in the electronic cash ledger may be used for making any payment towards tax, interest, penalty, fees or any other amount payable.

UK High Court ordered diamond merchant Nirav Modi's extradition to India to face charges of fraud and money laundering, amounting to an estimated USD 2 billion in the PNB loan scam case.

Lets learn about Electronic Credit Ledger through this 🧵

All eligible Input Tax Credit that is claimed by a registered dealer in the GST returns (GSTR-2B or GSTR-3B) reflects in Electronic Credit Ledger.

Credit in Electronic Credit Ledger can be used only for payment of tax.

Do note, CGST input tax credit cannot be utilized towards payment of SGST/UTGST liabilities &

SGST/UTGST input taxed credit cannot be utilized towards payment of CGST liabilities.

GST Update:

11th November i.e Today is the due date for filing GSTR-1 (Monthly) for the month of October 2022.

Do file it on time to avoid any late fees.

Exempt Exempt Exempt Investments under section 80C of the Income Tax Act and its understanding

CGST Rules: Reversal; As per explanations 2(b) to Chapter V, the value of security shall be taken as one per cent. of the sale value of such security.
What if there are F&O gain/loss in the B/S? Incase of F&O Lot size is big hence 1% lot value will change ITC reversal ratio.

you can just reprocess the return on rectification tab

GSTN will be enhancing services on the GST portal on 15th November’22, 12:15 AM onwards.

GST Portal services will not be available until 15th November’22 6:30 AM.

Form GSTR-9 and GSTR-9C - An understanding

Do note: It is mandatory to file GSTR-9 & GSTR-9C if you cross the turnover limit.