M S K G & Co.

02/03/2026

Heartiest Congratulations to CA Chetan Moudgil! 🎉

We are proud to share that CA Chetan Moudgil has achieved a remarkable milestone by successfully clearing the Chartered Accountancy examination. His dedication, discipline, and unwavering focus have truly paid off.

Becoming a Chartered Accountant is not just about clearing exams — it reflects years of perseverance, late nights, strong determination, and the courage to keep moving forward despite challenges. Chetan’s journey is an inspiration for aspiring professionals and a proud moment for all of us at MSKG.

We wish him continued success, professional excellence, and great achievements ahead. May this be just the beginning of a bright and impactful career.

02/03/2026

Heartiest Congratulations to CA Sandeep Saini! 🎉

We are delighted to announce that CA Sandeep Saini has successfully achieved the prestigious title of Chartered Accountant. This milestone is a reflection of his dedication, discipline, and relentless hard work over the years.

The journey to becoming a CA demands consistency, resilience, and immense focus — and Sandeep has demonstrated all these qualities with determination and confidence. His achievement is not only a personal victory but also a proud moment for all of us at MSKG.

We are confident that his knowledge, integrity, and professional commitment will lead him to great heights in the years ahead.

Wishing CA Sandeep Saini a future filled with success, growth, and remarkable accomplishments. 🌟

08/06/2022

*Do You Know – Penalty of Rs.10 Lakhs (Fixed) may be levied on ITR*

(1) If a Resident assessee held any assets outside India OR

(2) If a Resident assessee has any income from a source located outside India

and has defaulted

(1) In furnishing his ITR OR

(2) ITR has been furnished but the above mentioned required particulars not furnished or inaccurately furnished.

*Section 42 and 43 of the The Black Money (Undisclosed Foreign Income and Assets) And Imposition Of Tax Act, 2015*

So be careful while filing ITR specially in case of

1- Assessee having ESOP of foreign companies listed outside India
2- Assessee having any business relationship outside India
3- Assessee having any source of Income Outside India.

Hope the above information is useful to you.

CA Kavish Grover
9267770000

08/03/2022

GST Department issues SOP for Bank Attachment under GST

The Delhi Goods and Services Tax (DGST) Department has issued Standard Operating Procedure (SOP) to ensure the compliance of Bank attachment to streamline the process of freezing and de-freezing the Bank Account in GST and VAT.

The SOP is as Follows:

First: The Letter issued to the Bank Manager for freezing or de-freezing the Bank account of the taxpayers shall be digitally signed by the concerned Ward Officer.

Second: The letters should indicate the name, e-mail, and mobile number of the Ward In-charge.

Third: The Ward In-charge should also send an email through his official email-ID to the Bank Manager of the respective Bank.

Fourth: Before de-freezing the account the Bank Manager shall also confirm from the concerned Ward Officer for de-freezing the account. This should be specifically mentioned in the de-freezing letter issued by the Ward In-charge.

Fifth: A utility shall be developed in the Value Added Tax Module wherein the concerned ward in charge through its User ID/Password can upload the details of the taxpayer/dealer such as TIN No./GSTIN No. along with Bank Account No., Bank Name, Bank Address, etc. to be freezed/defreezed.

This utility may be shared with the concerned banks so that the Banks can also access the information through their User ID/Passwords.

25/02/2022

GST updates:

1.कृपया नोट करें कि GST प्रावधानों के तहत 20 करोड़ से अधिक के टर्नओवर वाले करदाताओं के लिए 1st April 2022 से E- Invoice बनाना अनिवार्य कर दिया गया है।

2. यदि आपका टर्नओवर वित्तीय वर्ष 2017- 18 या उसके बाद किसी भी वित्तीय वर्ष में 20 करोड़ से ज्यादा हुआ है तो आपके उपर यह प्रावधान लागू होगा। जैसे आपका टर्नओवर 2018-19 में 21 करोड़ था लेकिन 2019-20 तथा 2020- 21 में 10 करोड़ ही था तो भी 1st April 2022 से आपको E invoice बनाना है।

3. यदि आप ऐसे सप्लायर से माल लेते है जिसे E invoice बनाना अनिवार्य है लेकिन वो normal Invoice दे रहा है तो आपको उसकी Input Tax Credit नहीं मिलेगी।

4. यदि सप्लायर Normal Invoice से माल भेजता है तो यह माना जायेगा की उसने टैक्स चोरी के उद्देश्य से बिना Invoice के माल भेजा है तथा उस हिसाब से पेनल्टी प्रावधान लागू होगे।

5. इसके लिए अपने सॉफ्टवेयर को अपडेट करवाएं।

Please note that from 1st April 2022 it is compulsory to make e-invoice if your turnover was exceeding 20 crores in *any Financial year starting from 2017-18 to 2021-22.* Please update software accordingly.

03/01/2022

29/12/2021

02/10/2021

In compliance with Section 139A(5)(c) of the Income Tax Act *all the sellers raising an invoice of ₹ 2,00,000 or more should display the 10 digit PAN number (of both vendor as well as a customer)* on each such Invoice as a separate field.
*This is with effect from 1st October 2021*