Team CASA

*Jai Shree Krishna*🙏 ✅ *Last Date to Pay ICAI membership fee is 30th September 2023*. You can pay after completing KYM in the SSP portal so complete it today only. ✅ *In case of One Person Company* Last date to file form AOC -4 is 27th September, 2023 for F. y 22-23 ✅ Most Important recorded session at CASA YouTube on *ITR-7 and New Audit Report 10B* By CA Ved Mittal ji https://youtu.be/Gr42rTVrVMk ✅ ICAI issued *Technical Guide on Audit of Non-Banking Financial Companies* (Revised 2023 Edition) - (06-09-2023) https://resource.cdn.icai.org/75871aasb060923.pdf Regards *CA Sumit Garg*

Namaste ✅ICAI has come out with the *Financial Statements format* for NCE, LLPs & NPOs etc. The related *publications and Excel formats links* are as under👇🏼: ✅ *Non-Corporate entities* • Guidance Note on Financial Statements of Non-Corporate Entities - https://resource.cdn.icai.org/75516asb61093-a.pdf • Excel file containing Illustrative Formats - https://www.icai.org/post.html?post_id=15771 Note: This Guidance Note is *effective for Financial Statements covering periods beginning on or after April 01, 2024.* ____ ✅ *Limited Liability Partnerships* • Guidance Note on Financial Statements of Limited Liability Partnerships - https://resource.cdn.icai.org/75517asb61093-b.pdf • Excel file containing Illustrative Formats – https://www.icai.org/post.html?post_id=15771 ✅ *Not-for-profit Organisations* • Technical Guide on Accounting for NPO – https://www.icai.org/post.html?post_id=15772 • Excel file containing Illustrative Formats - https://resource.cdn.icai.org/74188asb60123.pdf Please ensure compliance with the applicable framework, accounting standards, etc. 🙏🏼 *Truly Yours* *CA Sumit Garg*

*Namaste*🙏 On this unique day, I extend *my gratitude* for imparting knowledge, infusing values, and shaping me into a better person. *Happy Teachers' Day!* 🙏 *Thank You For a Successful CASA foundation day event*. _Celebrating 14 Years of Service_ ✅ Most Important recorded session at CASA YouTube on *ITR-7 and New Audit Report 10B* By CA Ved Mittal ji https://youtu.be/Gr42rTVrVMk Regards🙏 *CA Sumit Garg*

*Namaste* 🏢 Humble Request To Join *Sept 04 (Monday)* Time 5.30PM onwards *CASA Annual Conference* Venus Malviya Smriti Bhawan, ITO ✅The *CBDT has notified the form no 71 to e- file rectification u/s 155(20) to allow TDS* in cases were assessee has claimed the TDS but deductor has paid the TDS in subsequent assessment years and department has not allowed the credit since its is not reflecting in 26AS of year in which tds was claimed, as per new provision inserted in finance act 2023 ✅In order to *facilitate the taxpayers in correct and accurate reporting of ITC reversal and reclaim thereof* and to avoid clerical mistakes, a new ledger namely Electronic Credit and Re-claimed Statement is being introduced on the GST portal. This will help in tracking of their ITC that has been reversed and thereafter re-claimed for each return period, starting from August-23 return period.  *Truly Yours* *CA Sumit Garg*

*Namaste* Request You to Join and Participate *Sept 04 (Monday)* Time 5.30PM onwards 🛄 *CASA 14th Foundation Day Conference* *Register* (No fees) https://forms.gle/UcCMNm4L5hCcbaaf9 *Truly Yours* *CA Sumit Garg*

Hare Krishna 🙏 *रक्षा बंधन की शुभ कामनाएं* 🛄 *CASA 14th Foundation Day Conference* (Sept 04) *Register* (No fees) https://forms.gle/UcCMNm4L5hCcbaaf9 ___ ✅ICAI - ASB has come out with the *Financial Statements format* for👇🏼: (a) Non-Corporate Entities (Proprietorships, Partnerships, etc.); (b) Limited Liability Partnerships (LLPs); and (c) Not-for-profit Organisations (Trusts, etc.) The related *publications and Excel formats links* are as under👇🏼: ✅ *Non-Corporate entities* • Guidance Note on Financial Statements of Non-Corporate Entities - https://resource.cdn.icai.org/75516asb61093-a.pdf • Excel file containing Illustrative Formats - https://www.icai.org/post.html?post_id=15771 ✅ *Limited Liability Partnerships* • Guidance Note on Financial Statements of Limited Liability Partnerships - https://resource.cdn.icai.org/75517asb61093-b.pdf • Excel file containing Illustrative Formats – https://www.icai.org/post.html?post_id=15771 ✅ *Not-for-profit Organisations* • Technical Guide on Accounting for NPO – https://www.icai.org/post.html?post_id=15772 • Excel file containing Illustrative Formats - https://resource.cdn.icai.org/74188asb60123.pdf Please ensure compliance with the applicable framework, accounting standards, etc. 🙏🏼 *Truly Yours* *CA Sumit Garg

Join us now *CASA invitation - GST Gyandhaara Series* Time: Aug 28, 2023 (05:00 PM - 06:00) Topic : *How to Handle GST Notices* Speaker: CA Mohit Gupta *Join Zoom Meeting* https://us02web.zoom.us/j/84103848712?pwd=emowYWp3dFdpbytvR0hVck95Z2I2QT09 Meeting ID: 841 0384 8712 Passcode: CASA *Team CASA*

*CASA invitation - GST Gyandhaara Series* Time: Aug 28, 2023 (05:00 PM - 06:00) *Join Zoom Meeting* https://us02web.zoom.us/j/84103848712?pwd=emowYWp3dFdpbytvR0hVck95Z2I2QT09 Meeting ID: 841 0384 8712 Passcode: CASA Topic : *How to Handle GST Notices* Speaker: CA Mohit Gupta *Panelist* CA Asha Sharma CA Rajesh Ritolia Regards CA Sumit Garg *Team CASA*

Hare Krishna 🙏 ✅ *KYM* The ICAI has introduced the "KYM" Form, which is now mandatory for all members to submit annually through the Self-Service Portal (SSP) of the ICAI. This new requirement may be posing challenges for some of members so complete your KYM on time before payment of Annual Fees (last date Sept 30). ✅ *UP Government exempt stamp duty on Gift of property to family members.* As per the notification issued by the UP Govt on 3rd August, 2023, the stamp duty to be paid in case of gift to any family members shall be restricted to Rs 5,000 only. The family members has been defined . Exemption is only for residential property and agriculture property. 🛄 *CASA 14th Foundation Day Conference* GST | Tax Audit | Felicitation *Register here* (No fees) https://forms.gle/UcCMNm4L5hCcbaaf9 *Team CASA* CA SUMIT GARG _The Journey of Evolution should continue..._

Hare Krishna 🙏 ✅ *CBDT notifies Rule for determination of value of "perquisite" in respect of residential accommodation provided by employer to an employee.* Notification No. 65/2023 dated 18th August, 2023 https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=1950509 ✅ *LLP Amnesty scheme introduced by MCA from 1.9.23 to 30.11.23* For details of relaxation, click here https://www.linkedin.com/posts/ca-sumit-garg-576b4423_getdocument-activity-7100278927759204352-Pzva?utm_source=share&utm_medium=member_android ___ 🛄 *CASA 14th Foundation Day Conference* GST | Tax Audit| Felicitation *Register here* (No fees) https://forms.gle/UcCMNm4L5hCcbaaf9 *Team CASA* CA Sumit GARG _The Journey of Evolution should continue..._

Hare Krishna 🙏 *Chandrayan-3* India is ready to write history TODAY by landing at the Moon🌙. I pray to lord Krishna for the success of chandrayan mission.🙏 *Jai Hind Jai Bharat* ___ 🙏Thankyou for the overwhelming response *CASA 14th Foundation Day Conference* *Register here* (No fees) https://forms.gle/UcCMNm4L5hCcbaaf9 *Team CASA* CA Sumit GARG _The Journey of Evolution should continue..._

*CASA Foundation Day* Please Join us in *Celebrating 14th Foundation Day "Enlightened - Empowering CAs"* 🗓️Schedule: *04 Sept 2023* (Time: 5PM to 8.30PM) 🤵🏼‍♂️ *Chief Guest* CA K M Agarwal (Past President ICAI) *Guest of Honor* CA C M Jain (Ex-Chairman NIRC) CA Dr. D D Agrawal (Ex-Chairman NIRC) CA Rakesh Makkar (Ex-Chairman NIRC) *_Special Session on GST & Income Tax_* 🔊 *Session 1* GST Aajtak - Latest Circulars & its Intricacies CA Tarun Arora Ji 🔊 *Session 2* Tax Audit Complexities & Commonly found non compliance CA Dr. Rakesh Gupta Ji, Ex-ITAT Member 🏢 *Venue*: Auditorium Malviya Smriti Bhawan, ITO Delhi ®️ *Register here* (No fees) https://forms.gle/UcCMNm4L5hCcbaaf9 🛄Followed by *Team Felicitation* *Networking Dinner* & *Krishna Souvenir to All* *Team CASA* CA Sumit Garg Founder

HaRE KriShnA 🙏 *CASA Daily News Alert* ✅ *"Challan Correction"* Functionality Available on *Income Tax Portal* Income tax department has introduced a new feature challan correction w e.f AY 2020-21 1.Change in AY 2.Change in tax applicable (Major head) 3.Change in type of payment (Minor head) ✅RBI launches उद्गम - *UDGAM - Centralised Web Portal for searching Unclaimed Deposits* ✅ *DGFT notifies issuing of Final Notice for On-boarding on Common Platform for Mandatory Electronic Filing of Non-Preferential Certificate of Origin* ✅CBDT invites comments on Form 6C for inventory valuation by Cost Accountants in Special Audit. (CBDT invites comments on draft Form No. 6C formulated for implementing the amendment to sub-section (2A) of Section 142 of the Income-tax Act, 1961, introduced vide Finance Act, 2023, pertaining to inventory valuation by Cost Accountant.) Comments can be submitted latest by 31/08/2023 at email id - ustpI3@nic.in https://incometaxindia.gov.in/Lists/Latest%20News/Attachments/598/Public-consultation-OM-and-draft-form.pdf Regards *CA Sumit Garg*

Hare Krishna 🙏 *CASA Daily News Alert* ✅CBDT dt 16-08-2023 notified New Rule 11UACA for Computation of income chargeable to tax under Section 56(2)(xiii) for amount Received under life Insurance policy ✅Reminder for E Verification of ITR withing 30 days of submission of ITR (time limit was reduced from 120 days to 30 days last year from August 2022) ✅ *Online empanelment of Concurrent audit of Indian bank* https://apps.indianbank.in/ca/ *Last date-21.08.2023* Regards *CA Sumit Garg

Hare Krishna 🙏 *GST Alert* ✅ *Notification no. 36 – Central Tax dated 04.08.2023* – prescribes special procedure to be followed by the *electronic commerce operator* who is required to collect tax at source u/s 52 of CGST Act, 2017, in respect of supply of goods made through it by the persons paying tax u/s 10 of the said Act. ✅ *Notification no. 37 – Central Tax dated 04.08.2023* – prescribes special procedure to be followed by the *electronic commerce operator* who is required to collect tax at source u/s 52 of CGST Act, 2017, in respect of *supply of goods* made through it *by the persons exempted from obtaining registration* in accordance with the Notification no. 34/2023 – Central Tax dated 31.07.2023. ✅ *Notification no. 38 – Central Tax dated 04.08.2023* – makes *amendment to the Central Goods and Services Tax Rules, 2017* in rule 9, 10A, 21A, 23, 25, 59, 64, 67, 88D (new rule), 89, 94, 96, 108, 109, 138F (new rule), 142B (new rule), 162, 163 (new rule) and also made *amendment in FORM GSTR-3A, FORM GSTR-5A, FORM GSTR-8, FORM GSTR-9, FORM GSTR-9C, FORM GST DRC -01C (new form), FORM GST DRC -01D (new form)*. ✅ *Excess credit claimed in GSTR-3B as compared to GSTR-2B* The Government of India, through notification No. 38/2023 dated 4th August 2023, has introduced Rule 88D which provides that, in case of mismatch above a specified percentage- • An Intimation will be issued to the taxpayer in Part A of form DRC-01C • The taxpayer has to submit reply (Payment of tax or explanation for mismatch) in Part B of form DRC-01C • Non-submission of reply will lead to restriction in filing of subsequent period GSTR-1/IFF in terms of Rule 59(e). ✅ *E-way bill for intra-state movement of gold and precious stone* The Government of India, through notification No. 38/2023 dated 4th August 2023, has introduced *Rule 138F*, by *allowing State governments to mandate e-way bills for intra-state movement of gold and precious stone*. *Key points* 1. Minimum threshold: Rs 2lakhs 2. Part A is only required; Part B not required Regards *CA Sumit Garg*

*Certificate Course on - Professional Development with Technology and Excel* Starting TODAY @6PM 🗓️5-7 August 2023 (3 days) *Course Coverage day-wise* 🛄Financial Functions 🛄Preparation of financial statements linked directly with exported Trial Balance 🛄Soft Skill Chat GPT & AI other Technologies 🔡 *Register here* : https://rzp.io/l/Soft-Skills Guest Speakers CA Darpan Gupta CA Akshay Garg CA Deepak Tayal Regards *Team CASA*

📖 *Certificate Course on - Professional Development with Technology and Excel* 🗓️5-7 August 2023 (3 days) *Course Coverage day-wise* 🛄Financial Functions 🛄Preparation of financial statements linked directly with exported Trial Balance 🛄Soft Skill Chat GPT & AI other Technologies 🔡 *Register here* : https://rzp.io/l/Soft-Skills Regards *Team CASA*

HaRE KriShnA *CASA* upcoming programs as under ✅ *CASA* is inviting you to a scheduled Zoom meeting TODAY. Topic: *Discussion Meet on Social Auditor's Examination* Date : Aug 1, 2023 (Tuesday) Time 05:00 to 6.00 PM Join Zoom Meeting https://us02web.zoom.us/j/83013345576?pwd=QnJScWpPL01EdWFkNGZRMlBDMWJYQT09 Meeting ID: 830 1334 5576 Passcode: CASA ____ ✅ *Certificate Course on -* *Professional Development with Technology and Excel* 🗓️5-7 August 2023 (3 days) *Course Coverage day-wise* 🛄Financial Functions 🛄Preparation of financial statements linked directly with exported Trial Balance 🛄Soft Skill Chat GPT & AI other Technologies 🔡 *Register here* : https://rzp.io/l/Soft-Skills Regards *Team CASA*

Hare Krishna 🙏 ✅ *Today 31 July is Last Date for* - TDS return for first Qtr (salary) - ITRs (non audit file) - DPT3 under CA Act ✅ Social Audit Guidance Webinar on *August 01* @5PM to 6PM Joining link soon. ✅ *From 1.8.2023, i.e. Tomorrow* onwards *E-invoice is mandatory* of B2B transactions for taxpayers with aggregate turnover of more than 5 Cr in any of the previous years from FY 2017-18 to FY 2022-23. ✅ *Certificate Course by CASA on -* *Professional Development with Technology and Excel Register* : https://rzp.io/l/Soft-Skills Regards *Team CASA*