Nitin Bhuta
19 articles written by Nitin Bhuta on ConsultEase.
PMLA Notification – Not the Armageddon you think
This Presentation Deck seeks to explain the key provisions of PMLA and also to allay the fears of Professionals who have been expressing their deep concerns, if not hue and cry, over the recent notification dated 03.05.2023 whereby Professionals such as CAs, CS’, and CMAs
Study on MSME – A Game Changer
All Business Enterprises, whether commercial or non-commercial, commence their activities in a bootstrapped manner. Over the years, with their vision, persistent conviction, dedication, and relentless efforts they unfold their wings to grow by leaps and bounds to establish themselves progressively as Larger and Bigger Companies.
Refund of GST Unregistered Persons Cir. No 188/20/2022-GST dated 27.12.2022
All views stated are my personal views, they are not binding on ICAI/Study Circle. My personal views may be correct/incorrect as they are expressed based on my understanding of the subject. All members/listeners are requested to go through tax law provisions on their own and
GST on Rent Compensation – Residential Property
Notification No 05/2022 dated July 13, 2022, applicable from July 18, 2022 I have been curiously and incisively watching and analysing, threadbare, the insightful discussions pertaining to the applicability of GST on Rental Compensation payable by a Registered Person who is a Service Recipient from
Income Tax ComplianceSection 206AB changes as applicable from July 1, 2021 – Declaration on the filing of the tax return for past years and linking of PAN with Aadhaar
Government of India vide Finance Act 2021, has introduced a new section 206AB under the Act wherein a buyer is responsible to deduct TDS at a higher rate (i.e., twice the rate as specified under the relevant provision of the Income Tax Act or
Income Tax ComplianceNew Revised Due dates under Income Tax Act 1961 AY 21-22
Extension of various dates like TDS Returns, SFT, ITR, TAR, TP Audit, etc. – Circular No 9 dated 20.05.21 – The assessment Year 2021/22 Sr No. Nature of Extension Original due date New Due Dates 1 Statement of Financial Transactions u/s 285BA 31.05.2021 30.06.2021
GST ComplianceHSN Reporting Changes
I have in this article attempted to explain the changes in HSN Reporting from May 2021 in GSTR 1, as I feel that many members may have questions in respect of the same. This is an effort to address and provide answers to select
Indirect Tax Amendments by Finance Bill 2021
Indirect Tax Amendments by Finance Bill 2021 Amendments carried out through the Finance Bill, 2021 come into effect on the date of its enactment, unless otherwise specified. I. Amendments In The CGST Act, 2017: Scope of Supply u/s 7(1) enlarged by way of Retrospective amendments
Direct Tax Amendments by Finance Bill 2021
Direct Tax Amendments by Finance Bill 2021 No change in Minimum threshold limits of Income Tax Exemptions under old Income Tax Regime; No change in Health & Education Cess maintained at 4% for all categories of Taxpayers; Standard deduction u/s 16 is maintained at Rs.50,000/-
Light!! Camera!! Action!! – Bad Debts Dichotomy
Light!! Camera!! Action!! – Bad Debts Dichotomy In this article, I have invoked the concept of “Light!! Camera!! Action !!” which is the catchy “call-phrase” used in the Entertainment Industry to get everyone ready before an action takes place. Here, the call for action is
Lock Stock and Barrel – of Debit and Credit Notes with Tax Invoices under GST
Lock Stock and Barrel – of Debit and Credit Notes with Tax Invoices under GST Parable of Not a Penny More and Not a Penny Less In this article, an attempt has been made to correlate two popular maxims – “lock stock and barrel” meaning
Input Tax Credit under Section 16 (2) – The Etymology of Double/Triple Jeopardy (???)
Input Tax Credit under Section 16 (2) – The Etymology of Double/Triple Jeopardy (???) Informally, it is called the “Double Whammy” or the “Triple Whammy” – I write this article to put forth an instance of Double/Triple Jeopardy in connection with Input Tax Credit under