S F Pereira & Associates

19/05/2026

Can a business lose GST ITC even after:
✅ paying supplier
✅ having invoice
✅ showing purchase in GSTR-2B?

Indian High Courts are now giving different answers.

In D.Y. Beathel Enterprises v. State Tax Officer, Madras HC said authorities should first proceed against the seller before denying ITC to buyer.

But in the recent Gujarat High Court ruling in Maruti Enterprise v. Union of India, the court upheld Section 16(2)(c) and observed that ITC is not an absolute right and can be denied if supplier fails to deposit tax.

This changes the GST litigation landscape significantly.

Today businesses must maintain:

vendor due diligence
payment trail
movement of goods proof
transport documents
supplier compliance checks

Because GST litigation is now shifting beyond just invoices.

This issue impacts:
GST notices, fake invoice litigation, Section 74 proceedings, ITC reversal notices, and GSTR-2B mismatch cases.

Save this reel if you deal with GST compliance or GST litigation.

17/05/2026

🚨 FORM 16 OFFICIALLY REPLACED? 😳

Salary employees… THIS is important !

The government has officially notified NEW Income Tax Forms under the Income Tax Rules 2026.

And yes…
✅ Form 16 is now FORM 130.

BUT WAIT ✋

Before you panic…

📌 For FY 2025-26,
employees will STILL receive the OLD Form 16.

The NEW Form 130 will apply for Tax Year 2026-27 onwards.

Matlab:
✅ This year → Form 16
✅ Next year onwards → Form 130

So next time HR sends:
“Please find attached Form 130” 😭

Don’t panic 💀

It’s basically the NEW version of Form 16 under the new Income Tax Act.

And this isn’t just a name change 👀

The new form will have:
✔ More detailed salary breakup
✔ Structured reporting
✔ More disclosure details

SAVE this reel because soon everyone will ask:
“Form 16 band ho gaya kya?”
Follow .steffidsouza for practical tax updates before your HR tells you .

14/05/2026

🚨 ₹1420 crore GST fraud busted in Bengaluru and the way this fake ITC racket worked is shocking 😳

Authorities found alleged shell companies issuing fake GST invoices and bogus e-way bills without actual movement of goods. One entity reportedly showed turnover jumping from ₹50 crore to ₹945 crore without proper business infrastructure 👀

This is exactly why GST authorities are now aggressively checking:
• vendor verification
• input tax credit claims
• invoice matching
• suspicious GST transactions

Businesses taking ITC from random vendors without proper due diligence should seriously be careful.

Because later when GST notices come…
everyone asks:
“Department ko pata kaise chala?” 😭

Save this reel before your next GST filing.

13/05/2026

🚨 Client payment pending?
GST portal pe “Communication Between Taxpayers” feature use karo

✔ “Payment Not Received” mark karo
✔ Official GST trail create karo

⚠️ Non-payment beyond 180 days may impact ITC.

SAVE this reel & follow for practical GST updates.

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12/05/2026

The struggle is real 😁

09/05/2026

India has introduced GOLD EGR (Electronic Gold Receipts) through NSE & BSE — making gold investing more transparent and digital.

But what exactly is it?
How is it different from physical gold or Gold ETFs?
And should investors even consider it?

I’ve broken it down in simple words in this carousel 👆

✨ Save & share this post with someone interested in gold investing.

IndianInvestors StockMarketIndia DigitalGold InvestmentAwareness CAIndia FinancialEducation

05/09/2025

✨ Happy Teacher’s Day! ✨

Today, I fondly remember all my teachers and mentors who have shaped my journey – not just in academics and profession, but also in life. Their guidance, patience and wisdom continue to inspire me every single day. 🙏

This year feels extra special as I also received a thoughtful token of appreciation from my article assistant. Moments like these remind me that learning is a two-way street – while I strive to guide and mentor, I am equally learning and growing from those I work with. 🌱

Grateful to all my teachers – past, present and future. 💙
Here’s to the beautiful cycle of knowledge being shared and passed on. 📚✨

03/07/2025

28/04/2025

The secret? Understanding Section 80C deductions, NPS contributions, and balancing high-growth with tax-efficient investments. I've broken down my entire strategy in my latest blog (link in bio)! 📊

Did you know the average Indian saves only 10-15% of their income? With the right knowledge, you can TRIPLE that rate! 💪

Questions about your tax saving strategy? Drop them below! I'll be answering the top 5 questions in my next post! 👇

24/04/2025

Ready to turn your home into a business hub? Here's your essential legal checklist to start a small business from home in India! 🏠

Before you launch your entrepreneurial journey, make sure you've got these legal boxes ticked:

✅ Business Structure: Choose between Sole Proprietorship, Partnership, LLP, or Private Limited Company based on your needs and risk appetite.

✅ MSME Registration: Register under UDYAM to access government schemes and benefits specially designed for small businesses.

✅ GST Registration: Mandatory if your turnover exceeds ₹40 lakhs (₹20 lakhs for some states).

✅ Professional Tax Registration: Required in most states if providing professional services.

✅ Local Municipal Permits: Check with your local authority about zoning laws for home-based businesses.

✅ PAN & Current Account: Essential for all financial transactions and tax compliance.

Pro Tip: Starting with a Sole Proprietorship has the lowest compliance burden, perfect for testing your business idea! 💡

Remember, legal compliance isn't just about avoiding penalties—it's about building credibility with customers and financial institutions! 🛡️

16/04/2025