🎉 Exciting Launch: Presenting the ‘Mera Bill Mera Adhikaar’ Scheme with opportunities to win up to 1 Crore! 🏆
In an ambitious move to transform our purchasing culture, the ‘Mera Bill Mera Adhikaar’ Scheme encourages every Indian to confidently demand bills/invoices for all their purchases. 🗓 Launch Details: 📌 Key Aspects of the Scheme: 🎁 Prize Breakdown: 🔍 How Do You Participate? 📣 Important Information: This pilot scheme is not just a chance to […]
TDS Rate Chart For FY 2023-24 (AY 2024-25) with TDS Section List
Staying compliant with TDS regulations is crucial for businesses as non-deduction, wrong deduction and even deduction under wrong TDS section could attract huge penalties. It’s important that businesses know the applicable rate, TDS section and exempt limit for each nature of payment. Note: Here is the latest income tax slab for AY 2023-24 (FY 2022-23) […]
Job Work Under GST
What is Job-Work Under GST? The definition of Job-work under GST is covered under section 2(68) of the CGST Act, 2017 states “Any treatment or process undertaken by a person on goods belonging to another registered person”. Therefore, a job worker is a person (registered or unregistered) who is processing or treating the goods of […]
2-Factor Authentication For All Taxpayers With AATO Above Rs 20 Cr Is Mandatory From November 01, 2023
Two Factor Authentication for e-Way Bill & e-Invoice The National Informatics Centre (NIC) has announced that 2-factor authentication (2FA) will be made mandatory for all taxpayers with an Aggregate Annual Turnover (AATO) above Rs. 100 crore from July 15, 2023. This is being done to enhance the security of the e-Way Bill/e-Invoice System and to […]
30 Days Of IRN Reporting Effective From 1 November 2023
In a significant development for businesses in India, the Goods and Services Tax (GST) Authority has introduced a new reporting deadline for e-invoices. Effective from 1st November 2023, this regulation mandates that taxpayers with an Aggregate Annual Turnover (AATO) greater than or equal to 100 crores have a 30-day window to report invoices from the […]
Maximize Your ITC Tracking Efficiency with GSTN’s New Electronic Credit Reversal and Re-claimed Statements!
You can Refer the below link for detail blog : https://www.rmpsco.com/maximize-your-itc-tracking-efficiency-with-gstns-new-electronic-credit-reversal-and-re-claimed-statements/ This Vlog is only a knowledge-sharing initiative and is based on the Relevant Provisions as applicable and as per the information existing at the time of the preparation. In no event RMPS & Co. or the Author or any other persons be liable for […]
15th Sept 2023 – 2nd Installment of Advance Income Tax
What is advance tax? As the name suggests, advance tax is the practice of paying taxes in advance rather than paying a lump sum amount at the end of the financial year. Also known as ‘pay as you earn’ scheme, these taxes are supposed to be paid in the same year the income is received. […]
Maximize Your ITC Tracking Efficiency with GSTN’s New Electronic Credit Reversal and Re-claimed Statements!
A new feature called Electronic Credit Reversal and Re-claimed Statements on the GSTN portal has been introduced. This statement is here to help you keep track of your ITC, from reversing it (Table 4B(2)) to reclaiming it (Table 4D(1) and 4A(5)). It covers each return period, starting from the August 2023 return period. Correct Reporting, […]
🌱 Early Indications of a Promising Startup Business Model 📈💡
In the early stages of a startup, identifying a viable and scalable business model is crucial for long-term success. While each startup is unique, there are some key indicators that can signal a promising business model. Here are a few early indications to look out for: 1️⃣ Clear Value Proposition: A strong startup business model […]
Latest Notifications Related to E-commerce Operators:
Notification No. 34/2023-Central Tax on 31st July 2023 This notification specifies the category of persons who are exempted from obtaining registration under the said Act, subject to certain conditions. Here are the key points mentioned in the notification: Notification No. 36/2023 – Central Tax on 4th August 2023 CBIC has empowered e-commerce operators with specific […]