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the (82), tax (75), and (59), you (46), more (35), for (35), your (31), this (28), income (22), content (22), itc (22), gst (20), gstr (20), from (19), linkedin (18), like (17), next (16), not (15), india (15), under (15), with (14), are (14), can (14), 000 (13), #finance (12), filing (12), report (12), investment (11), have (11), foreign (11), but (11), has (11), post (11), followers (11), business (10), new (10), facebook (10), copy (10), share (10), comment (10), comments (10), capital (10), gains (10), compliance (9), refund (9), will (9), indian (9), her (9), into (9), invoice (9), about (8), show (8), financial (8), now (8), what (8), also (8), system (8), rate (8), rent (8), they (8), form (8), planning (7), how (7), previous (7), their (7), returns (7), lakh (7), because (7), must (7), that (7), act (7), taxable (7), credit (7), gstin (7), goods (7), funds (7), singapore (7), policy (6), rules (6), reporting (6), requirements (6), most (6), time (6), non (6), them (6), notice 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rs 1y report this post accounting is the only profession where you can spend 60 hours proving you made a 3 error it s a joke but it s also a reality every accountant knows a little too well why does it happen because 3 isn t just 3 it s about precision it s about integrity it s about the chain reaction a small mistake can set off in the wrong context and sometimes it s about knowing where the system broke down even if the dollar amount is tiny accounting teaches us to value discipline traceability and trust it s also a reminder that the real cost of a 3 error isn t the money it s what it reveals so yes we ll chase it down because in this profession details matter what s the smallest error you ve ever spent way too long tracking down more no more previous content no more next content 5 931 404 comments like comment share copy linkedin facebook x nancy jain ca cma finalist founder at nextgen career circle brand partnership 15m impressions finance enthusiast b com hons 45 224 followers 1y report this post full gst reconciliation step by step guide practical working easy to apply 1️⃣ purchase input side reconciliation download gstr 2a 2b gst portal services returns view gstr 2a 2b download excel export purchase register from tally sap zoho keep columns supplier gstin invoice no invoice date taxable value gst amount how to compare vlookup xlookup match invoice no supplier gstin highlight mismatches use conditional formatting for easy view issues to identify missing invoice in gstr 2b value mismatch gstin error ineligible itc blocked under sec 17 5 make a clear summary eligible itc ineligible itc follow up pending 2️⃣ sales output side reconciliation download gstr 1 portal services returns view gstr 1 download excel export sales register from erp columns invoice no buyer gstin invoice date taxable value gst amount how to compare vlookup xlookup match invoice no buyer gstin mismatch highlight identify missing incorrect invoices quickly actionable step missing wrong invoices amend in next gstr 1 filing 3️⃣ gstr 1 vs gstr 3b tax payable reconciliation compare monthly totals total taxable value gst payable in gstr 1 gstr 3b mismatch check under reporting pay extra tax over reporting claim refund or adjust next month 4️⃣ gstr 2b vs gstr 3b itc claim reconciliation match itc figures itc claimed in gstr 3b eligible itc in gstr 2b formula tip supplier wise itc using sumifs supplier gstin wise adjustment excess itc reverse with interest short itc claim in next valid month 5️⃣ books vs gst returns final validation summary from books outward supplies inward supplies gst payable itc availed cross verification match books vs gstr 1 gstr 3b gstr 9 9c identify unreported invoices itc not claimed errors more no more previous content no more next content 5 292 370 comments like comment share copy linkedin facebook x ashish singhal ashish singhal is an influencer co founder coinswitch lemonn on a mission to make money equal for all by simplifying investing 39 977 followers 9mo report this post an nri woman made 1 35 crore from mutual funds paid zero tax in india got an income tax notice anyway then won here s how she did it and why most people don t know this exists she lived in singapore tax resident there sold her indian mutual funds 88 75 lakh from debt funds 46 91 lakh from equity funds total capital gains 1 35 crore she filed her itr claimed exemption under article 13 5 of the india singapore dtaa double taxation avoidance agreement her argument singapore doesn t tax capital gains so under the treaty only singapore has the right to tax her and since singapore charges zero she owes zero the income tax department said no mutual funds derive value from indian assets so gains are taxable in india she took it to itat income tax appellate tribunal itat ruled in her favor the key distinction mutual funds are issued by trusts not companies so they re not shares they fall under the residual clause of the dtaa which means taxable only in the country of residence result zero tax now here s where it gets interesting this isn t just singapore india has signed 94 dtaas uae kuwait mauritius switzerland many have similar clauses if you re an nri in a country that doesn t tax capital gains and your dtaa has article 13 5 or a similar residual clause you could legally pay zero tax on mutual fund redemptions in india while a resident indian would pay 12 5 ltcg or 20 stcg on the same gains 1 crore gain 12 5 lakh tax for a resident same 1 crore gain 0 tax for an nri in uae or singapore legally the requirements a valid tax residency certificate trc from your country proof you stayed 183 days there proper itr filing in india claiming dtaa exemption form 10f and supporting docs miss any of this you re paying full tax and if your gains exceed 3 crore gaar general anti avoidance rules might get triggered so this isn t a move abroad and dodge taxes loophole it s a legitimate treaty benefit for people who actually live and work abroad most nris don t know this exists most cas don t push it because it s tedious paperwork and the it department will challenge it like they did here the law is there the treaties exist most people just don t know they can use them more 369 24 comments like comment share copy linkedin facebook x rohini nair investment fund gift city corporate commercial i esg i private equity i venture capital i m a i speaker i classical dance exponent 25 573 followers 1y report this post 𝗜𝗻𝗱𝗶𝗮 𝘀 𝗲𝘃𝗼𝗹𝘃𝗶𝗻𝗴 𝗙𝗗𝗜 𝗿𝗲𝗴𝗶𝗺𝗲 𝗶𝘀 𝘀𝗵𝗮𝗽𝗶𝗻𝗴 𝘁𝗵𝗲 𝗳𝘂𝘁𝘂𝗿𝗲 𝗼𝗳 𝗮𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝗵𝗲𝗿𝗲 𝘀 𝘄𝗵𝗮𝘁 𝗔𝗜𝗙 𝗺𝗮𝗻𝗮𝗴𝗲𝗿𝘀 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗸𝗻𝗼𝘄 alternative investment funds aifs continue to attract significant interest from foreign investors and rightly so however with this capital inflow comes a heightened need for regulatory vigilance especially when aifs receiving foreign investment undertake downstream investments in indian entities to ensure transparency and control the reserve bank of india rbi under the foreign exchange management non debt instruments rules 2019 has laid down a robust reporting framework two key filings in this compliance matrix are form di and form invi 𝗙𝗼𝗿𝗺 𝗗𝗜 𝗗𝗼𝘄𝗻𝘀𝘁𝗿𝗲𝗮𝗺 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 when a foreign owned and controlled aif focc aif makes a downstream investment such as equity shares ccps or ccds in an indian entity it constitutes indirect foreign investment a form di must be filed on the firms portal within 30 days from the date of allotment of such instruments by the indian investing entity b compliance with india s fdi policy including sectoral caps pricing guidelines and prior approvals where applicable becomes mandatory 𝗙𝗼𝗿𝗺 𝗜𝗻𝗩𝗶 𝗜𝗻𝗱𝗶𝗿𝗲𝗰𝘁 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝘃𝗶𝗮 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗩𝗲𝗵𝗶𝗰𝗹𝗲𝘀 where a foreign investor invests in an indian aif and the aif subsequently invests in an indian entity form invi comes into play a the aif must report this indirect foreign investment within 30 days of issuing units or allocating investments to the foreign investor 𝗔𝗱𝗱𝗶𝘁𝗶𝗼𝗻𝗮𝗹 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀 aifs with foreign investment must also navigate a kyc norms beneficial ownership disclosures under pmla b custodian oversight when a single investor or group contributes 50 of corpus c sebi rbi scrutiny on sectoral limits pricing and entry routes delays or lapses in form di or invi filings may trigger penal consequences under fema additional regulatory scrutiny and potential disqualification from aif regime benefits potentially impairing future capital raises as india sharpens its focus on foreign capital transparency and compliance are the cornerstones of trust for focc aifs timely and accurate reporting under form di and form invi is not just a regulatory requirement but it s central to safeguarding credibility in india s alternative investment ecosystem neha londhe i anb legal alternativeinvestments foreigninvestment regulatorycompliance more 96 5 comments like comment share copy linkedin facebook x shrutika gandhi ca llb dip ifrs acca global indirect taxation 10 487 followers 1y report this post gst 2 0 itc blockage the great credit vanishing act you bought goods at 28 or 18 or 12 gst stocked them like a squirrel prepping for winter gst 2 0 arrives and those goods are now taxed at 5 or exempt you expect a refund of itc but the government says nice try no refund for you why because circular no 135 05 2020 gst says same goods lower rate not inverted duty no itc refund even if your ledger is sobbing with unused credit the law says absorb it or reverse it or cry softly into your gstr 3b what the circular says it clarifies that rate reduction on the same goods doesn t qualify as an inverted duty structure under section 54 3 of the cgst act so no refund of accumulated itc legal experts wait a minute section 54 3 ii allows refund when input tax output tax without requiring different goods delhi hc in pitambra books pvt ltd said circulars can clarify not contradict the law translation dear cbic you can t make up new rules just because you had a bad day cess credit the forgotten cousin auto dealers paid compensation cess on luxury vehicles gst 2 0 says no more cess but the credit stuck like that one sock in your washing machine unless allowed to transfer to cgst igst it s non refundable and non usable business impact what you need to do reverse itc on exempted goods even capital goods update pricing and invoicing before sept 22 reflect rate changes in invoices no new e way bills needed brace for litigation many are challenging the circular ️ funny but true gst 2 0 is a magic show you see itc in your ledger you expect a refund the government pulls out circular 135 2020 and says abracadabra it s gone will consumers benefit in theory yes in practice not always why no itc refund higher cost retention inventory bought at 18 sold at 5 margin squeeze no anti profiteering enforcement no legal push to reduce prices so while the government hopes for price drops the market may respond with stagnation or marginal cuts especially in fmcg auto and durables faced itc blockage or pricing dilemmas post gst 2 0 let s discuss gst2 0 circular135 itcblockage cesscredit taxreform indirecttax icai more no more previous content no more next content 2 896 31 comments like comment share copy linkedin facebook x sarthak ahuja sarthak ahuja is an influencer investment banker author isb gold medalist 332 252 followers 2mo report this post the supreme court has made a big announcement related to gst credit which can impact every business owner in india and now you will have to do 3 additional steps to ensure you get your gst you will not get gst input credit even if you have the gst tax invoice from your vendor and you have paid them the full amount after looking at the input appearing in gstr 2a 2b if for example the vendor has received an amount from you plus filed their return but has not paid the tax to the department in full then your input tax credit will be revoked which means your itc is not based on the tax invoice and gstr 2a but also on the vendor paying it to the government this is as per section 16 2 c of the cgst act and has been confirmed this week by the supreme court in the case of bhandari scrap traders vs union of india so here are 3 additional steps to take for all your vendors 1 go to the gst portal and under search taxpayer enter your vendor s gstin and check their return filing frequency ensure they file all their returns on time 2 when you search tax payer after logging into your account you will also see an option of liability paid check if they have been consistently paying 100 of their liability 3 at the end of the year when you take an msme certificate from your vendors also ask them to give you a ca certificate stating that they have paid the gst on the invoices raised to you and if there is ever any reversal of itc by the department on this account they will pay it to you with interest and penalty casarthakahuja more 324 34 comments like comment share copy linkedin facebook x oluwatosin olaseinde oluwatosin olaseinde is an influencer founder moneyafrica ladda fintech edtech world economic forum young global leader linked in top voices finance economy 2020 mandela washington fellowship financial literacy expert 126 512 followers 11mo report this post in june 2025 nigeria signed a new tax reform law it starts fully on january 1 2026 it affects everyone employees business owners freelancers investors and even content creators the four new tax laws 1 nigeria tax act nta combines personal income tax company tax vat capital gains tax petroleum tax etc into one 2 nigeria tax administration act ntaa explains how taxes will be collected penalties audits 3 nigeria revenue service act nrsa creates the new nigeria revenue service nrs replaces firs 4 joint revenue board act jrba makes federal and state tax offices work together adds a tax tribunal and a tax ombudsman for complaints tax identification number tin from 2026 everyone earning money must have a tin without it you may not be able to open some bank accounts do property or car registration get government contracts or loans example if you re a freelancer on fiverr you ll need a tin to stay compliant declaring your income everyone must declare their annual income to the tax office this includes salary side hustles business profits rent shares crypto youtube tiktok fiverr or upwork income example a content creator earning 2m from instagram ads must file tax returns comparing old vs new personal income tax pit system tax is now based on how much you earn under the old system pita everyone got a consolidated relief allowance cra of 200 000 20 of income before tax was applied under the new 2025 reform cra is removed and replaced with rent relief 500 000 or 20 of annual rent whichever is lower old pit rates income band rate first 300 000 7 next 300 000 11 next 500 000 15 next 500 000 19 next 1 600 000 21 above 3 200 000 24 new pit rates 2025 reform income band rate up to 800 000 0 800k 3m 15 3m 12m 18 12m 25m 21 25m 50m 23 above 50m 25 example 5 000 000 annual income old system cra 200k 20 5m 1 2m taxable income 3 8m total tax 704 000 effective rate 14 08 new system first 800k 0 next 2 2m 15 330k remaining 2m 18 360k total tax 690 000 effective rate 13 8 cra removed rent relief added before consolidated relief allowance 200k 20 of income reduced your taxable income now cra is gone instead rent relief you can deduct 500k or 20 of annual rent whichever is lower example if your rent is 1m 20 200k deductible if rent is 4m 20 800k but capped at 500k capital gains tax cgt individuals profits from selling land crypto or shares are added to your income and taxed with pit rates companies pay 30 on chargeable gains exemption if you sell shares below 150m in a year and gains are less than 10m you don t pay cgt example you sell shares worth 100m profit 8m no cgt more no more previous content no more next content 248 35 comments like comment share copy linkedin facebook x melissa rosenthal melissa rosenthal is an influencer turning companies into the 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