V J M & Associates LLP’s Post

📢 Important Update for LLPs! 📢 The Ministry of Corporate Affairs has announced a significant relaxation regarding additional fees for the filing of LLP Form BEN-2 and LLP Form 4D. The deadline for these filings has been extended, providing much-needed relief to Limited Liability Partnerships (LLPs) amidst ongoing challenges. This extension aims to ease compliance burdens and ensure smoother operations for LLPs across the country. 🔗 Details of the order: https://lnkd.in/g-cHdYfj #LLP #CorporateLaw #Compliance #LegalUpdate #MCA #LiveLaw #CS #Seradena

Ensure GSTN and DGFT Linkage Before ICEGATE Registration. #GST #IDT #Indirecttax   #TaxUpdates #compliance #Gstupdates #taxdisputes #Cbic #customs #icegate

De-mapping of Officers on GSTN portal: CBIC issues Instructions [Read Instruction] #demapping #GSTN #GSTNportal #CBIC #taxscan #taxnews Read More: https://lnkd.in/gnMvVAGS

In the background of complaints of arbitrary application of Section 74 of CGST Act in a high handed manner by the Authorities, the CBIC had issued instruction No-05/2023- GST dtd 13.12.2023. However, the field formations continued to issue demand notices alleging fraud, willful misstatement or suppression of facts in Gross disregard of the said instructions. Having come under the adverse notice of the Hon'ble courts, the Government has finally recommended amendments in Section 73 &74 of CGST Act to provide for common time limits for issuance of Demand notices and orders irrespective of whether the case involves fraud, suppression, willful misstatement etc. or not. A new section 74A is also proposed to be inserted. #gst #53rdcouncilmeeeting #lawatpar

Hi connects,   As the GST departmental audits for the FY 2018-19 and FY 2019-20 have been completed, there have been numerous Show Cause Notices (SCN’s), responses to the SCN’s, and departmental Order and so much mess is going around the market. Given the current scenario, it seems it is the time to summaries the points to be highlighted of Section 73 and 74 of CGST Act in a single pager document. The crux of these sections may be useful to buddies out there.   Key takeaways – 1. Timelines are most important in both the sections for issuance of SCN and Orders 2. Voluntary payment of any known liability before any SCN may significantly mitigate the risk of penalty. 3. As per the circular provided by the CBIC, no proceedings under Section 73 will be initiated in delayed filing of the return GSTR-3B. 4. In this complex environment, one should have an idea of laws for smooth flow of business.   Yes, this is my first one pager slide, hope you find it interesting and helpful😇 #GST #CBIC #1st #GSTin

🚨 Fake News Alert! 🚨 It has come to our attention that a fake circular dated 29.10.2024, claiming to extend the due dates for AOC-4 and MGT-7 filings, is being circulated. ⚠️ Please note: No official notification has been issued by the Ministry of Corporate Affairs (MCA) extending the deadlines for these forms. Companies are advised to follow the previously communicated deadlines to avoid penalties. 💡 Stay updated with reliable sources. If you need assistance or verification, reach out to Tax Guider: 📞 8695008695 | 📧 support@taxguider.in #FakeNewsAlert #MCA #Compliance #CorporateAffairs #AOC4 #MGT7 #StayInformed #TaxGuider #AvoidMisinformation #IndiaBusiness #CorporateCompliance #FilingDeadlines

In response to the challenges of ITC reversal verification under s. 15(3)(b)(ii) of the CGST Act, the CBIC has issued a circular detailing interim compliance measures. Authored by our associate Ms. Shivangi Bhardwaj, this update follows the 53rd GST Council Meeting, highlighting a temporary certificate-based solution for suppliers until the GST portal supports direct verifications. The circular provides guidelines for obtaining CA or CMA certificates, aiming to ensure smooth compliance and reduce potential disputes over post-supply discounts in tax credit notes. For further details, read the full article: https://lnkd.in/gJ_xF8UQ #MetalegalAdvocates #MetalegalUpdates #GST #CBIC #ITCReversal #CGSTAct #Compliance #LegalUpdate

GST Update: Important Clarification from CBIC on Section 128A of the CGST Act, 2017 On October 15, 2024, the CBIC released Circular No. 238/32/2024-GST, providing clarity on the implementation of Section 128A of the CGST Act, 2017. This important circular clarifies the procedures regarding waiver that will take effect from November 1, 2024. Stay informed and ensure compliance as we navigate these changes. #GST #GSTUpdate #CBICGSTUpdate #GSTNotification

In our latest blog, we break down the CBIC's new GST audit guidelines. Learn how these updates could impact your business and ensure you’re prepared. 🔗 Read the full blog here: https://lnkd.in/d79bvbUb #GST #TaxCompliance #CBIC #BusinessUpdates #RMPS #GSTUPdates #GSTBlogs #GStAudit #RMPSCo

We are delighted to share the attached HNA GST Navigator, a comprehensive special newsletter that offers expert analysis of the key recommendations from the 54th GST Council Meeting. This edition is designed to provide clarity, facilitate trade, and reduce litigation, empowering businesses to confidently navigate GST. #IDTwithHNA #GST #Indirecttax #Customs #GSTCouncil #FTP