Mandatory Bank Account Details Submission Under GST

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Mandatory furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Act, 2017. Let's Understand What Is Rule 10A Under CGST Act, 2017. The objective of Rule 10A is to prevent fraudulent activities such as the creation of fake GST registrations and the generation of bogus invoices. By verifying the bank account details of new GST registrants, the government can ensure that only genuine businesses are registered under the GST regime. So all the registered taxpayers are required to furnish their bank account details within the prescribed period of time. Mandatory Bank Account Details Submission as Per Law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules framed thereunder to furnish  their bank Account  Details within 30 days of the grant of registration or before the due date of filing GSTR-1/IFF, whichever is earlier. Taxpayers are therefore advised to promptly furnish the...
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Indian Stock Market Capitalization Value

The Indian stock market capitalization, also known as market cap, is the total value of all the listed companies' shares on the stock exchanges in India. It is a measure of the size of the Indian stock market and reflects the collective value of the companies listed on the exchanges. As of February 25, 2023, the market capitalization of the Indian stock market was approximately Rs. 249 lakh crore or USD 3.3 trillion. This makes the Indian stock market one of the largest in the world, behind only the US and China. The Indian stock market consists of two main exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), both headquartered in Mumbai. The BSE is the oldest stock exchange in Asia, founded in 1875, while the NSE was established in 1992. Together, they have a combined market share of over 90% of the total market capitalization of the Indian stock market. The Indian stock market has seen significant growth over the years, driven by a number of factors, including the country's strong economic growth, a growing middle class, and increasing foreign investment. The market has also been buoyed by the government's economic reforms, which have aimed to improve the ease of doing business in India and attract more foreign investment. The Indian stock market offers a wide range of investment opportunities to both domestic and foreign investors, with a diverse range of companies across various sectors. Some of the largest companies listed on the Indian stock market include Reliance Industries, HDFC Bank, and Tata Consultancy Services. Overall, the Indian stock market capitalization is a key indicator of the country's economic strength and potential, reflecting the value of the companies that are driving growth and innovation in the Indian economy.

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Reporting of supplies notified under section 9(5)/5(5) by E-commerce operator in GSTR-3B

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