Received a GST Notice Without DIN? Don’t Panic — Here's What CBIC Just Clarified “Is this fake? There's no DIN on the notice I got!” That’s the exact question a small business owner asked me last week. And honestly, it’s a fair doubt — even I had to double-check the latest update from CBIC. So, here’s the thing you need to know (and remember): Not all GST notices without a DIN are invalid. 📢 CBIC’s Recent Clarification — What They Actually Said The Central Board of Indirect Taxes and Customs (CBIC) has recently issued an important clarification: 👉 If your GST notice has a Reference Number (RFN), it doesn’t need a separate DIN. Let that sink in. Yes, this applies to system-generated communications through the GST portal — especially notices like DRC-01 . 📌 You can always verify such notices here They’re saying: "A DIN is not mandatory when RFN is already there, and the notice is digitally issued through the portal." That’s helpful because it ends...

Benefits of Incorporating a Private Limited Company for Startups | M A Ashraf & Co. Benefits of Incorporating a Private Limited Company for Startups 📌 What is a Private Limited Company? A Private Limited Company is a type of business entity registered under the Companies Act, 2013 , governed by the Ministry of Corporate Affairs (MCA) . It is privately held, has limited liability, and is separate from its owners. ✅ Minimum 2 Directors ✅ Limited liability protection ✅ Separate legal identity ✅ Better access to funding 🔗 Official MCA Portal – Company Incorporation 🎯 Why Startups Prefer Private Limited Companies ✅ 1. Limited Liability Protection As per ICAI standards and the Companies Act, shareholders are not personally liable for company debts beyond their shareholding. 🚀 2. Attracting Investors Private limited companies are preferred by angel investors and venture capitalists due to transparent structure and regulated operations. 📌 Company Reg...

How to File GST Returns Easily – A Guide for Small Businesses Filing GST returns can be daunting, especially for startups and small businesses. But with the right knowledge and support, it can become a smooth, timely, and compliant process. At M A Ashraf & Co. – Chartered Accountants , we help Indian businesses stay GST-compliant without hassle. Here’s your step-by-step guide on how to file GST returns easily. 1. Know Which GST Returns You Must File Depending on your business type, you may need to file one or more of the following: GSTR-1: Details of outward supplies (sales) GSTR-3B: Summary return for tax payment GSTR-4: For Composition Scheme taxpayers GSTR-9: Annual return Refer to the official GST Portal – Returns Section for updated form details. 2. Keep Your Books and Invoices in Order Ensure that all your sales and purchase invoices are GST-compliant. Maintain records for at least 6 years as per Section 35 of CGST Act . 3. Use the Right Tools ...

Why Company Registration is Important for Your Startup Starting a new venture is an exciting journey, but one of the most critical decisions you’ll make is choosing the right business structure and registering it officially. We guide entrepreneurs through the legal and financial aspects of company incorporation in India. Here’s why registering your startup is not just recommended — it’s essential. 1. Legal Recognition and Protection Company registration under the Ministry of Corporate Affairs (MCA) gives your business a distinct legal identity. This protects your personal assets from business liabilities and helps enforce contracts legally. 2. Builds Trust and Credibility Registered companies appear more credible to clients, investors, suppliers, and banks. A CIN (Corporate Identification Number) shows you mean business and intend to operate with legal compliance. 3. Eligibility for Funding and Government Schemes Startups registered as Private Limited Companies or LLPs can ...

Gold holds a special place in Indian culture- not just as a symbol of wealth and tradition but also as a preferred investment. However, many are unaware that selling gold, whether in the form of jewellery, bars, coins, or digital formats, may attract taxes under the Income Tax Act. As a Chartered Accountant, my aim is to clarify the tax implications associated with gold transactions to help you stay compliant and financially informed. Understanding Capital Gains on Gold Under Indian tax laws, profits from the sale of gold are classified as capital gains . While many personal assets like furniture or clothing are exempt from such taxation, jewellery is explicitly treated as a “capital asset” —even if it’s a thread of gold in clothing or a small stone embedded in a decorative piece. This rule applies to : • Gold, silver, platinum jewellery • Precious and semi-precious stones (even when loose) • Utensils or decorative items made from or embedded with precious metals Exception :...

Why Filing ITR Voluntarily Can Be a Smart Move Many individuals believe that filing Income Tax Returns (ITR) is only necessary if their income exceeds the basic exemption limit. However, even if you are not legally required to file ITR, doing so can offer several long-term benefits. At M A Ashraf & Co. - Chartered Accountants , we advise clients to understand these advantages before deciding to skip filing. 1. Claiming Income Tax Refunds If TDS (Tax Deducted at Source) has been deducted from your income but your total income is below the taxable limit, filing an ITR is the only way to claim a refund from the Income Tax Department. 2. Useful for Visa Applications When applying for visas to countries like the USA, UK, Canada, or Schengen nations, you may be required to submit your ITR copies as proof of financial stability and tax compliance. 3. Helps in Loan Applications Most banks and NBFCs require ITR receipts for processing loans (home, vehicle, or business loans). ...

Why Every Startup Should Register Through a Chartered Accountant Starting a business in India? Whether you're forming a Private Limited Company, LLP, or Proprietorship — partnering with a qualified Chartered Accountant ensures legal compliance, tax benefits, and peace of mind. ✅ Expert Guidance from Day One Chartered Accountants like us at M A Ashraf & Co. help you choose the right business structure based on your objectives — ensuring you're not overpaying tax or under-complying with laws. 📄 End-to-End Registration Support From Company Incorporation to GST Registration and TAN/PAN application, we handle it all. This means no form errors, no rejections, and full support throughout. 💼 Compliance with ICAI and Government Norms We follow all professional ethics and statutory obligations prescribed by the Institute of Chartered Accountants of India (ICAI) . You're not just hiring a consultant — you're hiring a regulated professional. 📊 Strate...