Radik Associates

Radik Associates When your trust meets my quality of work

The government has withdrawn the New income tax Bill
09/08/2025

The government has withdrawn the New income tax Bill

🌾 Happy Pongal by Radik Associates ! 🌞May this festive season bring joy, prosperity, and abundance to your life. May the...
14/01/2025

🌾 Happy Pongal by Radik Associates ! 🌞

May this festive season bring joy, prosperity, and abundance to your life. May the sweetness of Pongal fill your home with love, and may the harvest bring happiness and success. Wishing you and your family a wonderful and blessed Pongal! 🌾🎉 .associate 🧉🌾🌞

**Advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24**(09-12-2024)- Notification No 12/2024 a...
10/12/2024

**Advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24**(09-12-2024)

- Notification No 12/2024 and Notification No.20/2024 outline changes in auto-population of ITC values in GSTR-9.
- Table 8A values for FY 2023-24 are auto-populated from GSTR 2B, unlike FY 2022-23 which used GSTR 2A.
- This change may cause mismatches between Table 8A and Table 8C values.

**Reporting Scenarios**

- **Scenario 1**: Invoice dated FY 23-24 but reported late by supplier.
- Report ITC in Table 8C and Table 13 of GSTR-9 for FY 2023-24.

- **Scenario 2**: ITC reclaimed in next FY due to late payment to supplier.
- Report reclaimed ITC in Table 6H of GSTR-9 for FY 24-25, not in Table 8C or Table 13 of FY 2023-24.

- **Scenario 3**: Invoice for FY 2023-24 but goods received in next FY.
- Report reclaimed ITC in Table 8C and Table 13 of GSTR-9 for FY 2023-24.

- **Scenario 4**: Invoice for FY 22-23 appearing in Table 8A of FY 23-24.
- Do not report in Table 8C or Table 13 of GSTR-9 for FY 23-24.

- **Scenario 5**: Reclaim of ITC for invoice of FY 2023-24 within the same year.
- Report in Table 6H of GSTR-9 for FY 23-24, not in Table 7.

GST Registration-Change in Place of Business Tab!!If Consent is selected in Nature of Possession, then from now on, it i...
02/12/2024

GST Registration-Change in Place of Business Tab!!

If Consent is selected in Nature of Possession, then from now on, it is Mandatory to enter :-
📌Name of Electricity Board
📌Electricity Consumer A/c

“🚨 Important Update for Scrap Dealers! 🚨If you’re a registered taxpayer who deducted TDS in October 2024 (under Notifica...
29/11/2024

“🚨 Important Update for Scrap Dealers! 🚨

If you’re a registered taxpayer who deducted TDS in October 2024 (under Notification No. 25/2024-Central Tax), but your GST registration was approved in November, don’t worry! You can now report the consolidated TDS amount for October and November in your GSTR-7 return for November 2024. 📑

Make sure to file on time and stay compliant!

🚀 Introducing PAN 2.0: Your Key to Modernized Tax Compliance! 🧾💼🌟 What’s New with PAN 2.0?PAN 2.0 is an upgraded Permane...
28/11/2024

🚀 Introducing PAN 2.0: Your Key to Modernized Tax Compliance! 🧾💼

🌟 What’s New with PAN 2.0?
PAN 2.0 is an upgraded Permanent Account Number system designed to streamline income tax processes and enhance transparency in India’s taxation framework. Here’s what you need to know:

1️⃣ Integration with TAN
PAN 2.0 now includes Tax Deduction and Collection Account Number (TAN) functionalities, combining two critical tax identifiers into one. This makes managing tax deductions and collections smoother and reduces paperwork.

2️⃣ Improved Accessibility
With PAN 2.0, all your tax-related information can be accessed through a unified platform, simplifying compliance and reporting.

3️⃣ Enhanced Features

Digital and paperless processes.
Faster and more secure access to your tax data.
Seamless linkage with Aadhaar for verification.
💡 Why PAN 2.0 Matters:
It’s a step towards a simplified and more transparent tax system, making compliance easier for individuals and businesses.

📢 Make sure to stay updated and embrace this new system to keep your finances in check!

💻 Learn more and stay tax-smart! Follow us for the latest updates. ✅

📢 Important Update on Invoice Management System (IMS) on GST Portal!From October 14, 2024, taxpayers can now manage invo...
14/11/2024

📢 Important Update on Invoice Management System (IMS) on GST Portal!

From October 14, 2024, taxpayers can now manage invoices filed by suppliers in GSTR-1/1A/IFF using the Invoice Management System (IMS). Accept, reject, or mark invoices pending to keep track of all transactions. 🙌

Plus, suppliers can view recipients’ actions on their invoices with the new Supplier View feature—reducing errors and keeping everyone on the same page! 📄✅

🔸 Please remember, some invoices marked “No Action Taken” (like RCM supplies or those ineligible for ITC) are visible only for suppliers to view, not for recipient actions.

📅 Don’t forget! Any changes to your actions can be updated until you file your GSTR-3B. Recompute GSTR-2B if changes are made after it’s generated.

Important Update for Taxpayers: Form GST DRC-03A Taxpayers, please note! A new form, GST DRC-03A, has been introduced to...
13/11/2024

Important Update for Taxpayers: Form GST DRC-03A

Taxpayers, please note! A new form, GST DRC-03A, has been introduced to link payments made through DRC-03 with specific demand orders. This ensures your payments accurately reflect in the electronic liability register, closing out demands properly!

Here’s what you need to know:

1️⃣ Only DRC-03 payments marked as “Voluntary” or “Others” are eligible for this adjustment.

2️⃣ Simply enter the ARN of DRC-03 and the demand order number, and the system will populate the info for you. 💻

3️⃣ Adjustments will update automatically in your liability ledger.

.associate

📢 Do You Know? 🤔The GST Council has introduced a big relief for taxpayers to reduce tax disputes! 🏠💰As per the 53rd GST ...
12/11/2024

📢 Do You Know? 🤔

The GST Council has introduced a big relief for taxpayers to reduce tax disputes! 🏠💰

As per the 53rd GST Council meeting on June 22, 2024, taxpayers can now avail a waiver of interest and penalties for demand notices/orders issued under Section 73 of the CGST Act (for the financial years 2017-18, 2018-19, and 2019-20). 🎉

✨ The catch? The full tax amount must be paid by March 31, 2025 to enjoy the waiver. ✨

🔍 How to do it? 1️⃣ Taxpayers need to file an application in Form GST SPL-01 or Form GST SPL-02 before March 31, 2025. 2️⃣ Pay the demanded tax amount through the “payment towards demand” facility or Form GST DRC-03. 3️⃣ If you’ve already made the payment through Form GST DRC-03, don’t forget to link it with the demand order using Form GST DRC-03A!

📅 Important Dates:

Waiver Scheme Notification: 1st November 2024
Last Date for Tax Payment: 31st March 2025
Forms available: Tentative First Week of January 2025
Stay informed and ensure you don’t miss out on this relief! 🚀💡

30/10/2024

✨🌼 Happy Diwali! 🌼✨

May the festival of lights bring you joy, prosperity, and good health. As we celebrate this beautiful occasion, let’s spread love, kindness, and positivity all around. May your life be illuminated with happiness and your path be filled with success.

🪔 Let’s light up our lives and those of others! Wishing you and your loved ones a very Happy Diwali!

With ESI, you’re not just investing in a monthly deduction – you’re securing comprehensive support for you and your fami...
30/10/2024

With ESI, you’re not just investing in a monthly deduction – you’re securing comprehensive support for you and your family’s health and financial well-being. 🌟

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✨ Tip: Always ensure your bank account, PAN, and Aadhaar are updated in the EPFO portal to avoid any issues with withdra...
25/10/2024

✨ Tip: Always ensure your bank account, PAN, and Aadhaar are updated in the EPFO portal to avoid any issues with withdrawals and claims.
website: https://radikassociates.in/

Address

No 98/5B Gandhi Street, Thirupathi Nagar, 4th Main Road, Kolathur, Tamilnadu
Chennai
600099

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 5pm

Telephone

+917449141727

Website

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