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efiletax Decodes New MCA Rules for Overseas Equity Listing: Unlock Global Growth!

25 Jan, 2024

January 24, 2024: Attention ambitious companies! The Ministry of Corporate Affairs (MCA) just unveiled game-changing rules allowing you to list your equity shares on international stock exchanges, opening doors to global growth and exciting possibilities. efiletax, your trusted corporate compliance partner, breaks down the details and shows you how to leverage this revolutionary opportunity. Key […]

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Who and when an entity have to register?

20 Jan, 2024

GST: The Cornerstone of Indian Indirect Taxation The Goods and Services Tax (GST) has revolutionized India’s indirect tax landscape, unifying multiple taxes into a single, comprehensive system. Businesses across the country have adapted to this new regime, with GST registration playing a crucial role in ensuring compliance and smooth operations. Understanding GST Registration: Unveiling the […]

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GST E-Way Bill Notices Incoming: 5 Key Areas Under AG Audit Scrutiny

05 Jan, 2024

ST Alert: Brace Yourself for Notices on E-Way Bill Discrepancies! Attention taxpayers! The Goods and Services Tax (GST) department is tightening its grip on e-way bill compliance, and multiple discrepancies have come under the scanner of the Accountant General (AG) Audit. Be prepared for potential notices if your e-way bill practices fall into any of […]

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Punjab’s Economy Zooms! GST Revenue Surges 16.52%, Indicating Robust Growth

05 Jan, 2024

Punjab’s economic outlook is looking brighter than ever, fueled by a significant surge in tax revenues. The state witnessed a phenomenal 16.52% year-on-year growth in Goods and Services Tax (GST) collections, a clear indicator of increased economic activity and improved compliance. Here’s a breakdown of the good news: Reasons for Optimism: The substantial rise in […]

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  India’s GST Revenue Rises Compared to 2022, Dips from Recent Months

02 Jan, 2024

India’s Goods and Services Tax (GST) collection has been a topic of conversation, showcasing both growth and a recent decline. In December 2023, the GST revenue reached a three-month low, amounting to Rs 1.65 lakh crore, marking a 10.28 percent rise from the previous year. However, this figure is notably lower than the collections of […]

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A Record-Breaking Year for ITR Filing! efiletax Analyzes the Trend

01 Jan, 2024

A Record-Breaking Year for ITR Filing! efiletax Analyzes the Trend The Income Tax Department has reached a landmark achievement, exceeding everyone’s expectations! As of December 31st, 2023, a staggering 8.18 crore ITRs have been filed for the Assessment Year 2023-24, marking a 9% increase compared to the previous year. This is a clear testament to […]

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33,000 Businesses Hit with GST Notices: What Went Wrong and What Comes Next?

14 Dec, 2023

Central tax officers have issued approximately 33,000 GST notices to businesses for discrepancies in returns and short payment of taxes in the financial years 2017-18 and 2018-19. The National Co-ordination Committee of State and Central GST officers, chaired by the Revenue Secretary, is expected to meet by the end of this month or early January. […]

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GST Rolls Out Crispy New Feature to Rectify ITC Mismatch – Form DRC-01C 🔍✅

14 Nov, 2023

GSTN has introduced a game-changer in tax compliance: Form DRC-01C, an automated intimation system that helps you identify and address discrepancies between ITC claimed in GSTR-3B and ITC available in GSTR-2B. 💯🎯 This nifty tool compares ITC declared in GSTR-3B/3BQ with ITC available in GSTR-2B/2BQ for each return period and sends an intimation in Form […]

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