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CA SHARWAN

Updates in Refund Filing Process for Various Refund Categories – Reg

The GSTN implemented significant updates to the refund filing process, effective from May 8, 2025. These changes are designed to streamline procedures and reduce complexities for taxpayers, especially those involved in exports and supplies to Special Economic Zones (SEZs). Here’s a detailed overview of the changes and their implications for taxpayers. Applicable Refund Categories The revised procedure applies to the following three categories of refunds: These categories are widely used… Read More »Updates in Refund Filing Process for Various Refund Categories – Reg

5% Of Remittance Tax on Money Transfers from the USA To India

Recent discussions surrounding a proposed 5% tax on remittances from the United States to India have sparked significant concern among the Indian diaspora and their families. For many households in India, financial support from relatives working abroad—especially in the U.S.—is not a luxury but a lifeline. As such, any change to the cost or process of sending money home deserves thoughtful consideration. This article analyzes the rationale, potential effects, and… Read More »5% Of Remittance Tax on Money Transfers from the USA To India

CBDT Issues FAQs on Compounding of Offences Under the Income Tax Act

In a significant move to enhance transparency and streamline compliance, the Central Board of Direct Taxes (CBDT) has issued a detailed set of Frequently Asked Questions (FAQs) on the compounding of offences under the Income Tax Act, 1961. The document is intended to address common queries from taxpayers and legal professionals regarding the procedure, eligibility, and conditions for compounding tax-related offences. This development is part of the government’s broader agenda… Read More »CBDT Issues FAQs on Compounding of Offences Under the Income Tax Act

Form 13 Filing Deadlines for FY 2024–25: What You Should Know

Navigating India’s income tax framework involves understanding a range of forms and deadlines. Among them, Form 13 is particularly valuable for taxpayers looking to reduce or eliminate tax deducted at source (TDS) or tax collected at source (TCS). With the conclusion of Financial Year (FY) 2024–25 on March 31, 2025, it’s important to look at how Form 13 fits into your tax planning and what steps should be taken moving… Read More »Form 13 Filing Deadlines for FY 2024–25: What You Should Know

GST Registration in 7 Days : New Process

The Goods and Services Tax (GST) has reshaped the tax structure in India. For many businesses, GST registration is mandatory. While it once seemed complex and time-consuming, recent government initiatives have significantly speed up the process. This guide focuses on how your business can aim for GST registration within 7 days, thanks to these new streamlined procedures. The Fast-Track to GST Registration: The government and the Central Board of Indirect… Read More »GST Registration in 7 Days : New Process

Important Features of SPICe+ for Greater Business Ease

A new Web Form called “SPICe+” (known as “SPICe Plus”) has been implemented by the MCA i.e. Ministry of Corporate Affairs to replace the previous SPICe form as part of the GOI’s Ease of Doing Business (EODB) programmes. SPICe+ offers 11 services from 3 Central Government Ministries and Departments (Ministry of Corporate Affairs, Ministry of Labour, and Department of Revenue in the Ministry of Finance), 3 State Governments of the… Read More »Important Features of SPICe+ for Greater Business Ease

Pros & Cons of Udyam Registration for a Freelancer, Proprietor or Small Entity

Before discussing about the pros and cons of UDYAM registration, many newbie entrepreneurs still have questions about what UDYAM Registration is! So, if you have the same confusion, let us make it clear before coming to the point. UDYAM Registration (commonly known as MSME Registration) is a government registration process for small/medium businesses and enterprises.  With this registration, a recognition certificate and a unique number are provided to the owner… Read More »Pros & Cons of Udyam Registration for a Freelancer, Proprietor or Small Entity

Overseas Direct Investment under FEMA

Nowadays many individuals are exploring investments outside India through investing in existing companies’ set-up in developed or emerging countries. A lot of Indian start-ups are setting-up or want to set-up entities in offshore jurisdiction for many advantages like raising funds overseas or attracting global investors and many more. The Founders or Entrepreneurs as well as employee communities are willing to understand whether it is possible to obtain stake / shares… Read More »Overseas Direct Investment under FEMA

What is GSTR 3B?

GSTR-3B is summary of GST return which self-declared filed every month (quarterly for the QRMP scheme). Taxpayers should report the summary figures of sales, input tax credit claimed, and net tax payable in GSTR-3B. A separate GSTR-3B need to be filed for every GSTIN The GST liability should be paid on or before the date of filing GSTR-3B, earlier of their due date The GSTR-3B once filed can’t be revised… Read More »What is GSTR 3B?

What is Bitcoin Loan?

Bitcoin loans are just like any other loans (personal loan, home loan etc.) which you borrow a specific amount from a lender and repay with interest. The disparity between Bitcoin loans and different kinds of loans is that Bitcoin serves as the collateral used to secure the loan. Bitcoin value changes acutely, which makes it difficult to predict which makes it hard to borrow from someone you know. Nowadays many… Read More »What is Bitcoin Loan?