Life@nashah

Life@nashah

Employee Engagement

The N. A. Shah Family came together to celebrate the exceptional achievements of our team members who successfully cleared the CA Final examinations in 2026 — a proud milestone made even more meaningful with the presence of their parents.
This celebration went beyond academic success, recognising the unwavering support, encouragement, and sacrifices of families who stood strong behind every achiever. As we honoured our young professionals, we also paid tribute to the silent pillars of strength — their parents — whose belief made this journey possible.
It was an evening filled with pride, gratitude, and inspiration, truly reflecting the essence of the N. A. Shah Family.
We look forward to seeing them evolve into future leaders of the profession. Congratulations once again to each of them!

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A perfect blend of competition, collaboration, and cricketing spirit.
The N. A. Shah Premier League Season 2 (NPL 2026) brought our entire team together for an exciting day of truf cricket competition filled with energy, camaraderie, and sportsmanship. Members across the firm participated with great enthusiasm, strengthening bonds and celebrating the true spirit of teamwork both on and off the field.
It was truly a memorable day for the N. A. Shah family, showcasing not only cricketing talent but also the unity and togetherness that define us.
Here are some highlights capturing the excitement, cricketing moments, and incredible team spirit.

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A splash of colours, a touch of creativity, and a lot of festive spirit!
This Holi, the N. A. Shah Family came together to transform a large canvas on our office wall into a vibrant space of colours, doodles, and joyful expressions. Each little contribution added a unique touch, filling the canvas with positivity and celebration.
Because the best celebrations are the ones we create together.

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N. A. Shah family marked this 77th Republic Day with pride and joy, capturing the true spirit of India. The team, dressed in tricolor attire, symbolized unity, strength, and patriotism. It was a heartfelt reflection of the spirit that unites us.
The moment highlighted our strong sense of togetherness and unity.

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Glimpses from Audit Townhall 2025 as our Audit team came together for a focused and enriching learning session. The townhall featured in-depth discussions on Ind AS 32 & Ind AS 109 – Financial Instruments and Ind AS 103 – Business Combinations, offering valuable clarity on complex and evolving accounting standards. The session was thoughtfully presented by CA Dharti Shah, – Audit & Assurance and CA Sarla Jangid, Assistant Manager – Audit & Assurance, whose practical insights and clear explanations made the discussions highly engaging and relevant for the team. The session reflected our continued commitment to knowledge sharing, collaboration, and strengthening professional excellence within our audit practice.

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The N. A. Shah family brought Christmas to life as Santa arrived with cheer, surprises, and festive fun. From joyful moments to picture-perfect clicks in Christmas-themed frames, the celebration wrapped up with laughter, smiles, and memories captured in every frame.

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Celebrating 5 Years of Excellence
Congratulations to Meenal Shintre from our Indirect Tax team on completing 5 years and being honoured with the Long Service Award.
Your consistent performance and professionalism have made a meaningful impact.
Here’s to continued growth and many more successes ahead!

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The N. A. Shah Family gathered to celebrate the outstanding accomplishments of our team members who triumphantly cleared the CA Final September 2025 examinations — a milestone made even more memorable by the presence of their beaming parents.
This celebration went far beyond academic achievement. It was a salute to the dedication, resilience, and perseverance that shaped each success story, and an acknowledgment of the unwavering support that stood quietly behind it — their families.
As we applauded our young achievers, we also honored the steady guidance, sacrifices, and unconditional love of their parents — the true foundations of every victory.
The evening radiated pride, gratitude, and inspiration, beautifully capturing the essence of what it means to be part of the N. A. Shah Family.
We eagerly look forward to witnessing these bright professionals rise, lead, and leave their mark on the profession. Congratulations to each one of them on this remarkable milestone!

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The N. A. Shah family celebrated Diwali with a perfect mix of fun and festivity! 🌸 From creating vibrant flower rangolis that brightened the space, to testing our luck with housie, striking high scores at bowling arcade and grooving together at the dance party — the day was a true reflection of joy, energy and team spirit.

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From attire in colour sync with each Navratri day to cheerful smiles all around, this year’s Navratri celebration lit up the office with unmatched enthusiasm. The 10 days were filled with vibrant hues, positive energy and festive spirit — creating memories we’ll truly cherish!

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A proud and grateful moment for us!
Heartfelt congratulations to CA Prashant Daftary – Partner, Audit & Assurance, for being honored with the Long Service Award. Your leadership, relentless dedication and invaluable contributions have played a pivotal role in shaping our growth.
Your journey stands as a true testament to excellence and commitment, motivating everyone around you.
Wishing you many more milestones of success and fulfillment ahead!

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Heartiest congratulations to Vipul Ramoliya – Internal Audit, Saurabh Mishra – Accounts, and Dinesh Parkar – Administration for receiving the Long Service Award!
Your steadfast commitment, knowledge, and contributions have been vital to our achievements. We look forward to reaching greater milestones together.

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N. A. Shah Family came together to celebrate the remarkable achievements of our team members who successfully cleared the CA Final May 2025 examinations — a moment made even more special by the presence of their proud parents.

This wasn’t just a celebration of academic success; it was a tribute to the unwavering support system behind every achiever — their families.
As we honoured the achievements of our young professionals, we also acknowledged the silent strength and unconditional love of their parents — the real heroes who made this journey possible.

It was a beautiful gathering filled with pride, gratitude, and inspiration — a moment that truly reflected the spirit of the N. A. Shah Family.
We look forward to seeing them grow into future leaders of the profession. Congratulations once again to each of them!

Atharva Khandelwal Darshana Shah Dhwani Shah Hetvi Sanghrajka Hitesh Ramina Isha Damle Ishada Damle Krishna Sabhani Maitri Gindra Mohit Yadav Neer Shah Poojan Sanghavi CA Prateek Mishra CA Rishi Gupta Sakshi Ashok Shah Siddhi Vora Tanishka Jain Teesha Shah CA Tushar Churi Vardhaman Lodha

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Honouring Dedication & Excellence!
Congratulations to Omkar Sharma from our Audit and Assurance team on receiving the Long Service Award!
Your unwavering commitment, consistent performance, and years of contribution have left an indelible mark on our journey.
We’re proud to have you as part of our team and excited for the milestones we’ll cross together in the future!

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On this International Yoga Day, our team at N. A. Shah came together for a yoga session led by enthusiastic Vaibhav Sagvekar.
The session encouraged presence over pressure, calm over chaos.
It was more than just a pause — it was a conscious step toward balance.
Every participant walked away feeling refreshed, grounded and more connected — both to themselves and their work.

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Celebrating a Remarkable Journey!
A huge congratulations to Shriraam S Shankaranarayanan and Meet Raja from Direct Tax, on this well-earned Long Service Award! Your journey of perseverance, passion, and impact has been nothing short of inspiring. Thank you for being an integral part of our success—looking forward to achieving greater milestones together!

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The N. A. Shah family came together to celebrate the 76th Republic Day with immense pride and enthusiasm, honoring the spirit of India. Dressed in vibrant tricolor attire, the entire team radiated unity and patriotism

A unique highlight of the day was the glass mural activity, which became a platform for our team to express their love for the nation creatively.

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N. A. Shah Family took great pride in organizing a special felicitation ceremony to honor the outstanding achievement of our members who cleared the Chartered Accountancy examinations in November 2024.
During this memorable celebration, we reiterate about our commitment in guiding aspiring young Chartered Accountants. With the presence of proud families, the event became a powerful reminder of the combined efforts of family and firm in achieving such remarkable success.
May their journey ahead be filled with even greater success as they embark on the next chapter of their professional lives.

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New Year 2025 was welcomed at N. A. Shah Associates LLP with a vibrant evening of celebration, laughter, and camaraderie. The gathering was a testament to the power of togetherness and the joy of shared experiences – memories that will light the path of the year ahead

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N. A. Shah family crafted an extraordinary Christmas Tree made of Books !
This innovative tree, made entirely of books, symbolizes the union of knowledge and the festive spirit of Christmas. Brightly lit and adorned with cheerful decorations, it reflects the values of new beginnings, joy and togetherness.

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A moment of pride and gratitude! Congratulations to our esteemed Partners, CA Milan Mody – Managing Partner and CA Bhavin Kapadia – Partner, Audit & Assurance, for being honored with the Long Service Awards. Your visionary leadership, unwavering dedication and exceptional contributions have been the cornerstone of our success.
Your journeys are shining examples of excellence and commitment, inspiring everyone around you. Here’s to many more milestones ahead!

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A heartfelt congratulations to CA Siraj Khan and CA Badal Oswal on receiving the Long Service Award! Your support and commitment have propelled us to new heights.
Your dedication goes beyond milestones; it creates a legacy that inspires us all. We are truly privileged to have you as a driving force behind our success. Here’s to celebrating this honor and building an even brighter future together!

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Congratulations to Sarla Jangid for being honored with the Long Service Award! Your dedication, passion and impactful contributions are truly commendable. Your hard work inspires us all, and we’re lucky to have you as part of the team.
Here’s to reaching greater heights together!

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We at N. A. Shah, believe in fostering positive change in the communities we serve.

We believe in the mantra that small efforts can lead to meaningful, lasting impact!

In line with our values, we recently partnered with Muktangan Educational Trust to provide children with essential items such as clothing, notebooks, stationery etc. which resonates our values of integrity, compassion and community development.

Let’s continue to unite and uplift our communities together!

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N. A. Shah family celebrated a vibrant Pre-Diwali event, bringing together our office family for a day of joy and camaraderie.

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The N. A. Shah Family proudly hosted a felicitation ceremony to honor our remarkable members who triumphed in the CA May ’24 examinations. We celebrated their achievements along with their parents, acknowledging the essential role they played in this significant success. The event was a vibrant celebration of our members hard work, filled with joy, pride and an overwhelming sense of accomplishment.

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Congratulations to Bhavya Kamdar, on receiving the Long Service Award! Your unwavering dedication and outstanding contributions have made a significant impact. We truly appreciate your hard work and commitment. Wishing you continued success and many more achievements in the future!

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N. A. Shah organized the NASA Premier League 2024, which encouraged team building and bonding. All members enthusiastically participated in the league with Sportsmanship Spirit. It was truly a day to remember.

Here are some highlights showcasing our firm’s cricket skills and team spirit.

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Heartiest congratulations to CA Anshita Mahajan, Assistant Manager – Statutory Audit for being honored with Long Service Award for Completing 5 glorious years with N. A. Shah.
We deeply appreciate your remarkable dedication and valuable contributions. Wishing you continued success and prosperity.

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N. A. Shah family celebrated Women’s Day

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N. A. Shah family celebrated Annual Picnic

N. A. Shah family celebrated Diwali

In Media

CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shared expert insights with ET Wealth Online on the amended Finance Bill 2026, discussing the removal of arrest provisions for pending tax demands, while pointing out the Tax Recovery Officer still continues to hold wide powers for recovery through other measures.

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No More Double GST While Filing Appeals with New DRC-03A Form
CA Jitendra Patel, Partner – Indirect Tax at N. A. Shah Associates LLP, shared expert insights with The Economics Times | Wealth on the new GST DRC-03A form, which enables the adjustment of GST paid under protest in DRC-03 as a pre-deposit for appeals, helping taxpayers avoid double payment and ensuring smoother filing of appeals.

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GST Alert: Returned ‘Welcome Kit’ Could Put Registration at Risk.
CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shared expert insights with MoneyControl on the potential risk of notice being served for cancellation of registrations due to the return of the “welcome letter”.

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New Form 128 Under Income Tax Act 2025: Key Changes

CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shares insights with The Economic Times on the new Form 128 for nil/lower TDS deduction for property and other transactions, highlighting key changes compared to Form 13 and its implications following Budget 2026.

CA Chintan Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, shared expert insights with The Times of India on the Draft Income Tax Rules 2026, highlighting the importance of reviewing ITR eligibility annually and closely tracking capital gains, especially for retail investors.

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Budget 2026: Buyback Taxation Shift to Capital Gains
CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shares insights on the proposed shift in buyback taxation, where consideration received by shareholders will now be taxed under the head “Capital Gains” instead of dividend income.

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Budget 2026: Mandatory TDS/TCS Guidelines to Reduce Disputes.
CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shares expert insights with The Economic Times | Wealth on how the proposed amendment to Section 400(2) of the 2025 Act makes CBDT’s TDS/TCS guidelines binding, bringing greater clarity, uniformity and a significant reduction in tax disputes.

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Union Budget 2026 raises STT (Securities Transaction Tax) on futures and options trading.
CA Chintan Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, shared his insights with The Economics Times | Wealth, explaining that STT is transaction-based and payable irrespective of whether the trade results in a profit or a loss.

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Budget 2026: Nil Deduction Certificates for Small Taxpayers.
CA Hitesh Jain, Partner – Direct Tax at N. A. Shah Associates LLP, shares insights with The Economics Times | Wealth on Budget 2026’s move to digitise lower or nil TDS certificates, reducing paperwork and improving transparency for small taxpayers.

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Budget 2026: Gen Z’s Changing Money Equation
CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shares insights with MoneyControl on how Budget 2026 impacts Gen Z, highlighting lower upfront TCS, improved liquidity, and increased spending on overseas education, travel and other productive uses.

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Budget 2026: Tax Rules for Gold & Silver Investments.
CA Hitesh Jain, Partner – Direct Tax at N. A. Shah Associates LLP, shares his insights with The Economic Times | Wealth on how gold and silver investments—including physical gold, digital gold, ETFs, mutual funds and Sovereign Gold Bonds (SGBs)—will be taxed after Budget 2026, explaining the revised holding periods, capital gains treatment and GST implications.

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Securities Transaction Tax (STT) hike after Budget 2026.
CA Chintan Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, shares his insights on Union Budget 2026 with The Times of India, stating that the hike in Securities Transaction Tax (STT) on derivatives aims to moderate speculative trading and address systemic risk in the F&O markets.

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Union Budget 2026 Expectations –

CA Chintan Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, shares his budget expectations for the manufacturing sector, highlighting the need for stability, incentives, and cost rationalisation.
“For manufacturing units, a key expectation from the Budget is reinforcement of tax certainty and competitiveness. Restoration or extension of concessional corporate tax rates for new manufacturing entities would encourage long-term capital investment and greenfield expansion. Equally crucial is rationalisation of customs duties on critical raw materials and capital goods, as frequent duty changes increase compliance complexity and cost unpredictability. The manufacturing sector would also benefit from continued and better-targeted Performance Linked Incentive (PLI) schemes, with a sharper focus on employment generation and value addition rather than mere capacity creation. From an MSME perspective, simplification of compliance, improved loss carry-forward and set-off provisions, and incentives for reinvestment of profits into technology and automation would strengthen balance sheets and improve global competitiveness. Overall, policy consistency and reduced tax friction are essential for sustainable industrial growth.”

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Ahead of Union Budget 2026, CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shared his views with The Economic Times | Wealth on the need to extend capital gains tax exemption in cases where new agricultural land is purchased before the sale of existing land.
He highlighted that the current provisions under section 54B of the Income Tax Act do not provide relief in such situations, causing genuine hardship to farmers, and suggested that the Budget should align the relief with the principles of sections 54 and 54F.

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Union Budget 2026 Expectations –
CA Ankit Joshi, Partner – Indirect Tax at N. A. Shah Associates LLP, shares his budget expectations on resolving long-pending ITC disputes and the need for a clear, uniform guidance to reduce litigation and improve certainty for taxpayers :-
“ITC Saga Continues – Currently, there are numerous long-pending notices issued to assessees relating to Input Tax Credit (ITC) disputes arising from GSTR-2A mismatches, vendor non-compliance, retrospective cancellation of vendors’ GSTINs etc. These issues have resulted in substantial litigation and uncertainty for genuine taxpayers. Although several favourable judgments have been delivered by various High Courts across different states, clarifying that ITC cannot be denied solely due to supplier-side defaults, the GST authorities continue to disregard these rulings while adjudicating cases. Consequently, assessees are left with no alternative but to pursue further litigation, leading to increased compliance costs and prolonged disputes. A clear and uniform clarification or circular from the government would greatly assist in aligning the interpretation of law between assessees and GST authorities. Such guidance would not only provide much-needed certainty but also help in reducing ongoing and future litigations, thereby strengthening trust in the GST framework and improving ease of doing business.”

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With the Union Budget 2026 in focus, CA Jitendra Patel, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his budget expectations with Money Control on the need for simplified GST compliance.
He noted that despite GST 2.0, compliance remains challenging and stressed the need for stable returns, resolution of ITC issues and faster GST Appellate Tribunal rollout.

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Union Budget 2026 Expectations –
CA Milin Bakhai, Partner – Direct Tax at N. A. Shah Associates LLP, shares his budget expectations on addressing practical challenges in implementing TDS on partner remuneration under section 194T :-

“Section 194T, introduced by the Finance Act, 2024 and effective from 1 April 2025, mandates TDS on partner remuneration and allied payments at the time of payment or credit, whichever is earlier. However, its implementation poses practical difficulties.

• Partner remuneration is typically determined and credited only at year end after finalisation of accounts in accordance with section 40(b). As no periodic credit is made during the year, uncertainty arises regarding the exact timing of TDS and whether notional accruals could trigger liability.
• Partners frequently withdraw amounts from their capital or current accounts during the year, which are subsequently adjusted against remuneration. Such withdrawals are in the nature of drawings and do not constitute remuneration at the time of withdrawal; however, there is a risk of these being misconstrued as “payment” for the purposes of section 194T. In addition, uncertainty persists as to whether excess capital withdrawals could be regarded as remuneration.

In order to remove such practical challenges, a suitable amendment is expected in the forthcoming Budget or through a CBDT circular to ensure efficient, uniform, and dispute-free implementation of section 194T.”

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Union Budget 2026 Expectations –
CA Hitesh Jain, Partner – Direct Tax at N. A. Shah Associates LLP, shares his budget expectations on clarity and allowability of ESOP expenditure under the Income-tax Act :-

“The continued absence of explicit tax provisions on the deductibility of ESOP expenses has become a serious policy gap that Budget 2026 can no longer ignore. ESOPs are no longer discretionary incentives but a core component of employee compensation, particularly for start-ups, technology companies, and multinational groups competing for global talent. Despite this commercial reality, employers in India routinely face disallowance of ESOP expenditure due to lack of statutory clarity, even where the corresponding perquisite value is fully taxed in the hands of employees upon exercise, resulting in clear economic double taxation. The issue is further aggravated in cross-border group structures where ESOPs are granted by foreign holding companies but the economic cost is borne by, and recharged to, the Indian subsidiary employing the staff. In such cases, deductions are frequently denied on technical grounds, despite the expense being wholly and exclusively incurred for Indian business operations. The uncertainty also extends to the method of computation and the year of allowability—whether at grant, vesting, or exercise—forcing companies into avoidable litigation on what is essentially an employee compensation cost. Budget 2026 offers a critical opportunity to address this anomaly by explicitly recognising ESOP expenditure, including ESOPs granted by foreign holding companies, as an allowable business deduction, prescribing a uniform computation mechanism aligned with accounting standards, and synchronising the employer’s deduction with employee-level taxation. Such clarity would materially reduce disputes, improve ease of doing business, and strengthen India’s credibility as a stable and predictable tax jurisdiction for multinational and talent-driven enterprises.”

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Union Budget 2026 Expectations
CA Jitendra Patel, Partner – Indirect Tax at N. A. Shah Associates LLP, shares his Union Budget 2026 expectations on GST reforms :-

“Since the introduction of the Goods and Services Tax (GST), the authorities have issued multiple amendments, notifications, and circulars with the intent of resolving practical difficulties faced by businesses and ensuring uniformity in tax administration. However, despite the best of efforts by them, divergent interpretations and inconsistent implementation at the field level continue to create significant challenges for taxpayers.

In many cases, authorities have taken positions contrary to clear statutory provisions, notifications, and departmental clarifications, resulting in unwarranted demand notices and a substantial increase in litigation. The lack of consistency across tax authorities particularly in matters relating to valuation and procedural compliance has diluted the core objective of GST, which was envisioned as a simple and dispute-minimizing tax regime.

Businesses, especially those operating across multiple States, are frequently subjected to parallel proceedings by both Central and State authorities for the same tax period. This duplication leads to excessive compliance burden, increased costs, and avoidable disputes. Trade bodies advocate for a centralized or coordinated audit framework to avoid overlap, streamline administration, and reduce litigation. Additionally, the system should move towards a transparent, faceless, and taxpayer-friendly administration.

In summary, industry reiterates the need for a GST administration that prioritizes simplicity, consistency, reducing litigation, and a trust-based approach to governance, in line with the original vision of the GST framework.”

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Budget Expectations
With Union Budget 2026 on the horizon, CA Chintan Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, shares his expectations on Affordable Housing – Targeted Tax Relief for Builders and Homebuyers.

He states that “the Union Budget presents an opportunity to realign fiscal policy with the ground realities of the affordable housing segment. One of the most critical expectations from Union Budget 2026 is the reintroduction of a profit-linked tax incentive for developers undertaking affordable housing projects, on lines similar to the erstwhile section 80-IBA, which had demonstrably improved supply. Equally important is revisiting the definition of “affordable housing” by rationalizing price caps and area limits, particularly for metropolitan cities where costs have escalated significantly over the last decade. On the demand side, enhancement of deductions for home loan interest and principal repayment—especially for first-time buyers—would provide meaningful relief and stimulate genuine end-user demand. From a holistic tax perspective, rationalization of GST on construction inputs and reduction in transaction costs such as stamp duty would materially improve affordability and revive housing-led economic activity.”

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Budget Expectations
As the Union Budget 2026 approaches, CA Milan Mody, Managing Partner at N. A. Shah Associates LLP, outlines expectations for growth, stability and investment.

He points out that despite global challenges, India’s foremost priority remains sustained economic growth, which will require a stable and predictable tax environment. A renewed push to attract foreign direct investment is expected, alongside measures that encourage businesses to take calculated risks.

He emphasizes that access to credit at competitive rates will be critical in enabling enterprises to expand and invest. Consumers have received significant incentives in recent years; the focus of this Budget is therefore expected to shift towards supporting businesses. Targeted incentives for key sectors could provide the necessary momentum. In an era of tariff wars and geopolitical uncertainty, policymakers will need to strike a careful balance between global integration and self-sufficiency. Reducing litigation, simplifying compliance, and addressing administrative bottlenecks remain urgent priorities.

He further highlights that corporates are looking for certainty, stability, and a measured push to undertake fresh capital investments. While no significant changes are anticipated in direct tax rates or GST rates, several incremental measures are expected. These small but meaningful steps could go a long way in improving business confidence, strengthening the overall economic environment, and enhancing the ease of doing business.

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With Budget 2026 around the corner, CA Ankit Joshi, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his budget expectation with ET CFO.
He points out that operation challenges remain unsolved particularly for businesses operating along multiple states and suggest an introduction of optional centralized assessment systems.
He further highlighted the need for clarifications on long pending ITC disputes arising from mismatches, vendor non-compliance and retrospective GSTIN cancellations which could significantly lead to ease of litigation

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With taxpayers exploring ways to reduce tax liability under the new tax regime, CA Milin Bakhai, Partner – Direct Tax at N. A. Shah Associates LLP, shared with The Economic Times | Wealth stating that the applicability of EPF contributions depends on whether the employer is required to register under EPF. He further explained that tax exemption on the employer’s contribution is available only up to the limits specified under the Income Tax Act.

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With the Income Tax Department issuing notices to employers to verify salary-related documents, CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shared with The Moneycontrol that tax authorities are empowered to seek such information for the purpose of any inquiry or proceedings under the Act.

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Chandigarh Consumer Commission ruling penalized restaurant for charging above MRP on packaged drinking water.
CA Ankit Joshi, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his views with The Economic Times | Wealth, explaining that packaged commodities cannot be sold above the MRP, which already includes GST, and that these rules apply uniformly to all pre-packaged goods such as mineral water, cold drinks and snacks.

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CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shared his views with The Economic Times | Wealth on the recent ITAT Chandigarh ruling which allowed Section 87A rebate on long-term capital gains.
He further clarified that the restriction under Section 112A applies only to long term capital gains (LTCG) from equity or debt mutual funds.

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CA Chintan Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, shared his views with The Economic Times | Wealth on key Income Tax reforms and procedural updates rolled out in 2025 which will impact the taxpayers and compliance frameworks in the coming years.

CA Jitendra Patel, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his views with The Economic Times | Wealth on the important GST amendments introduced in 2025 along with landmark judgments that are set to impact taxation in 2026.

CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shared his views with The Economic Times | Wealth on cases where the CPC misses the ITR processing deadline. He highlighted that if such a return is not taken up for assessment or reassessment, it attains finality and consequently, the taxpayer becomes entitled to a tax refund, along with applicable interest up to the date of grant of the refund.

Referring to the landmark ruling of Hon’ble Supreme Court in matter of safari retreats, CA Jitendra Patel, Partner Indirect Tax at N. A. Shah Associates LLP, shared his views with ET CFO, noting that input tax credit (ITC) on construction costs is now clearly not allowed. He further highlighted that this change could have a significant impact on the real estate and leasing sectors and influence long term business planning.

Simplified GST Registration Scheme to Boost Compliance and Support Small Businesses

With the simplified GST registration scheme rolling out with a aim to boost compliance and ease of doing business, CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shared in ET CFO that the move will benefit small assesses, noting the ₹2.5 lakh limit can be increased.

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Rising Costs from GST Input Tax Credit Restrictions: Expert Insights by CA Ankit Joshi

With the recent GST changes impacting various sectors are witnessing rising costs due to restrictions on input tax credit CA Ankit Joshi, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his expert insights in ETCFO, highlighting that while the insurance sector has mitigated the impact by disbursing agent commissions on a GST-inclusive basis, other industries may find it challenging to adopt similar models, leaving cost pass-through to consumers as the likely outcome.

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GST Annual Return Relief Eases Compliance Burden for Small Taxpayers: Insights by CA Parag Mehta

With the recent relief from GST annual return filing, small taxpayers are expected to benefit from reduced compliance burdens.
CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his expert insights in The Economic Times | Wealth noting that exemption for GST annual return for taxpayers with turnover up to ₹2 crore for FY 2024-25 will ease the compliance load and associated costs for small businesses.

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Revised ITR Offers Flexibility for Salaried Taxpayers to Switch Tax Regimes

With revised ITR, salaried taxpayers get flexibility to switch tax regimes.
CA Hitesh Jain, Partner – Direct Tax at N. A. Shah Associates LLP, shared his expert insights in The Economic Times | Wealth that taxpayers can switch regimes by filing a revised ITR before the due date, while those with business or profession income must file Form 10-IEA on time to opt for the old regime.
He also pointed out that if the original return is filed on time, it can later be revised to switch from the new regime to the old regime, giving salaried taxpayers added flexibility.

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GST Rate Cuts Pose Challenges in Passing Benefits to Consumers

With the recent GST rate cuts, businesses are facing challenges in passing on the benefits to consumers.
CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his expert insights in ETCFO noting that passing on GST rate cut benefits with immediate effect will be difficult due to ITC restrictions and pre-printed MRPs on unsold stock.
He further highlighted that companies will first need to assess the actual impact before passing on benefits to consumers.

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GST Annual Return Relief: Reduced Compliance Burden for Small Taxpayers

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GSTN Advisory on Refunds: A Step Towards Hassle-Free Claims, Says CA Parag Mehta

With GSTN’s recent advisory on hassle free refund claims, CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his views in The Economic Times | Wealth noting that this long-awaited change will ease trade by removing undue blockages of funds caused by technical constraints. He further emphasized that the timely release of a comprehensive manual and FAQs would provide much-needed support to taxpayers.

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56th GST Council Meet: Clarity Expected on Post-Sale Discount Credit Notes

With the upcoming 56th GST Council meet, one may see resolution to the dispute over post-sale discount credit notes. CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shared his views in ETCFO highlighting that due to non contractual obligation post sale discount can not be treated as services. He further emphasized that the GST Council should give clear guidelines in the matter for the ease of trade at large.

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JioFinance’s Rs 24 Tax Filing Model: Mass Appeal vs. Accuracy Risks

With JioFinance’s recent Rs24 tax filing model coming into the market, CA Chintan Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, shared his views in ETCFO noting that JioFinance’s Rs 24 mass-market filing solution model may appear attractive to tech-savvy young taxpayers, the primary focus seems to be on user acquisition. He also pointed out that while such a system might work well for straightforward taxpayers, the real risk lies in complex filings, where errors could lead to penalties or unwanted scrutiny.

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UPI-Based GST Notices May Expand Across States: CA Parag Mehta Urges Careful Data Analysis to Prevent Harassment

With recent GST notices on UPI based transaction CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shares his expert view in The Economic Times, highlighting that GST notices in one state can surely be picked up by officers in other states also.
He notes that while not all UPI transactions attract GST as there might be personal transaction also , authorities must analyze data carefully to prevent unnecessary harassment.

Story by Neelanjit Das

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Delhi High Court Grants TDS Credit to NRI Seller Despite Buyer’s Form Filing Error

Delhi High Court in the case of Parag Keshav Bopardikar (non-resident seller) has held that TDS credit must be given to the seller of the property despite the buyer wrongly deposited the TDS amount using Form 26QB instead of Form 27Q. CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shares his expert view in The Economic Times, highlighting that High Court has rightly allowed the TDS credit, as there is no loss to the revenue when the buyer had correctly deducted TDS under section 195 but erroneously deposited the same using Form 26QB.

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CA Parag Mehta Urges Centralized Audit Committee and Functional GST Tribunal in ETCFO Feature

CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shares his expert view in ETCFO, highlighting the need for a single audit committee and functional GST Appellate Tribunal. He emphasizes that ITC should not be denied to taxpayers due to vendor non-compliance. He also points out long-pending operationalization of the GST Tribunal, even after 8 years of GST implementation, is further leading to delayed justice.
To read more, click here https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/gst-framework-review-call-for-centralized-audits-and-appellate-tribunal-by-experts/121528829

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CA Gopal Bohra Highlights Key ITR 1 & 4 Validation Changes for AY 2025-26 in The Economic Times

CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shares his expert view in The Economic Times, highlighting new validation rules in ITR 1 and 4 excel utilities for AY 2025-26.
He explains that missing key details can block ITR uploads, while accurate disclosures will ensure faster and smoother return processing.
To read more, click here https://economictimes.indiatimes.com/wealth/tax/itr-filing-for-ay-2025-26-7-prominent-changes-in-itr-excel-utilities-for-fy-2024-25-which-taxpayers-including-salaried-should-know/articleshow/121573221.cms

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GST on Joint Property Development: Patna High Court Ruling Sparks Industry-Wide Implications

With the Patna High Court ruling GST applicability on joint property development, CA Parag Mehta, Partner – Indirect Tax at N. A. Shah Associates LLP, shares his expert view in The Economic Times, highlighting its far-reaching implications for all developers and builders where agreement is entered before the April 1, 2019 notifications.
He further highlights that the judgment overlooks key issues like barter-based development rights under the old tax regime and the pending Vasantha Greens case before the supreme court.

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Expert Insights on GST Return Reforms: CA Ankit Joshi Highlights Key Changes in HSN Code and Invoice Reporting

CA Ankit Joshi, Partner – Indirect Tax at N. A. Shah Associates LLP, shares his expert views in ETCFO on the recent changes in GST return filing related to HSN codes and invoice reporting aimed at curbing tax leakages and improving accuracy. He highlights that tracking invoice numbers month-wise will prevent backdated billing, while removal of manual HSN code entry and introducing system checks to match supply values will reduce errors and ensure uniform, compliant filings.
To read more, click here: https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/gst-returns-experts-say-new-hsn-code-and-invoice-reporting-rules-from-may-2025-to-curb-tax-leakages-and-improve-filing-accuracy/121128420?utm_source=top_story&utm_medium=homepage

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Key Updates in ITR-2 Forms for AY 2025-26: Capital Gains and Share Buyback Taxation Explained by CA Gopal Bohra

CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shares his expert view in The Times of India, highlighting key changes in the new ITR-2 forms in respect of capital gains taxation and share buyback treatment . He explains that the ITR forms now require separate reporting of capital gains based on whether the transfer occurred before or after July 23, 2024, aligning with the two applicable tax rates. Additionally, following amendments by the Finance Act (No. 2) 2024, effective October 1, buyback receipts will be taxed as dividends and necessary disclosures are added in the forms for the same.

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ITR-3 Form Update: Asset Disclosure Threshold Raised to ₹1 Crore for AY 2025–26

With the Income Tax Return (ITR)-3 form for Assessment Year 2025–26 now notified by the Central Board of Direct Taxes (CBDT), CA Gopal Bohra, Partner – Direct Tax at N.A. Shah Associates LLP, shares his expert view in The Economic Times, outlining the key change and its impact on individual taxpayers.
He highlights that the threshold for disclosing assets and liabilities under “Schedule AL” has been raised from ₹50 lakh to ₹1 crore of total income, easing compliance for taxpayers
To read more, click here: https://economictimes.indiatimes.com/wealth/tax/itr-3-form-notified-by-the-cbdt-know-what-this-means-for-taxpayers/articleshow/120819242.cms

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With the new applicability of TCS on luxury purchases above ₹10 lakhs

CA Gopal Bohra, Partner – Direct Tax at N. A. Shah Associates LLP, shared his thoughts in ETCFO explaining how the new 1% TCS on luxury items over ₹10 lakh will help track high-value spending and curb black money. He further noted that though the move will result in increase in compliance.

Story by Alekh Shah

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Bombay High Court gives GST relief to homeowners

With the recent Bombay HC judgement providing GST relief to homeowners, CA Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert insights in The Economic Times, highlighting that GST on development rights has long been disputed between developers and authorities. He further explained how recent judgement of Mumbai High Court has distinguished the TDR/FSI as per notification and rights derived under Development Agreement.
To read more, click on : https://economictimes.indiatimes.com/wealth/tax/bombay-hc-gives-gst-relief-to-homeowners-no-gst-on-re-development-by-homeowners-through-builder-under-these-terms/articleshow/120539469.cms

Story by Neelanjit Das

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New GST Registration Guidelines to Simplify Process and Ease Taxpayer Grievances

Getting a GST registration was cumbersome. CA Parag Mehta, Partner at N. A. Shah Associates LLP, explains in The Economic Times that with the circular being issued for documentation required for GST registration, the process which was challenging due to inconsistent requirements across jurisdictions will now be easier and provide a lot of relief to the applicants. To read more, click on : https://economictimes.indiatimes.com/wealth/tax/new-guidelines-to-curb-gst-registration-related-harassment-to-help-in-timely-resolution-of-grievances-of-taxpayers/articleshow/120399413.cms

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CBIC’s GST Reforms a Boon for Startups, Say Experts

With the new CBIC’s instruction to ease up the GST compliance reforms for startup, CA Jitendra Patel, Partner at N. A. Shah Associates LLP, shares his expert view in ETCFO, highlighting as how this circular will help in standardizing the processes and aid in Ease of Doing Business thereby reducing financial and operational strain on business.
To read more, click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/cbics-gst-compliance-reforms-can-ease-startup-woes-rein-in-officer-discretion-say-experts/120422242

Story by Alekh Shah

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New guidelines to curb GST registration related harassment, to help in timely resolution of grievances of taxpayers

CA Parag Mehta, explains in The Economic Times that with the circular being issued for documentation required for GST registration, the process which was challenging due to inconsistent requirements across jurisdictions, will now be easier and provide a lot of relief to the applicants.

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The updated GST Amnesty Scheme offers businesses a wider window for relief and simplified dispute resolution.

CA Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert view in ETCFO, appreciating CBIC’s latest circular for easing procedural hurdles, expanding amnesty benefits and allowing past payment adjustments in complex litigations.
To read more, click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/cbics-updated-gst-amnesty-scheme-gives-businesses-more-time-and-clarity-broadens-scope-and-simplifies-dispute-resolution-say-experts/119858880?utm_source=top_story&utm_medium=homepage

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GSTIN now allows biometric authentication of the Directors & Promoters in their home state!

For this new feature CA Parag Mehta, Partner at N. A. Shah Associates LLP, shared his views with Business Standard that such biometric authentication is ideal for partners/directors to enhance their identity verification and prevent fraudulent registration.

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New Income Tax Bill: A Step Towards Simplification & Transparency?

CA Dhawal Selwadia, Partner at N. A. Shah Associates LLP, shared his views with ETCFO on key expectations from the New Income-Tax Bill, emphasizing the role of technology in simplifying tax compliance.
He highlights real-time grievance redressal and proactive compliance tracking can further ease doing business in India.

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Can you really pay zero tax on ₹14.78 lakh annual income? Here’s how!

CA Aastha Dhowan, Partner at N. A. Shah Associates LLP, shares expert insights on Zee Business regarding smart tax-saving strategies under the Revised New Tax Regime. She highlights that by leveraging NPS contributions and structuring salary components like travel and mobile allowances, individuals can reduce their tax liability.
To read more, click here: https://www.zeebiz.com/personal-finance/photo-gallery-revised-new-tax-regime-income-tax-slab-calculator-how-you-can-pay-0-tax-on-inr-rs-1477500-annual-expert-calculations-nps-budget-2025-how-to-pay-0-saving-tips-strategy-rebate-standard-deduction-345048

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Budget 2025: CA Chintan Ghelani Advocates Lower Taxes and Simplified TDS for Small Businesses

As the Union Budget 2025 approaches, CA Chintan Ghelani, Associate Partner at N. A. Shah Associates LLP, shared his insights with Financial Express, highlighting the need to reduce tax rates for small businesses and simplify TDS provisions. He emphasized that these reforms would ease compliance, boost business growth and expand tax coverage in India.

To read more, check the attached document.

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Budget 2025: CA Ajit Shah Calls for Income Tax Simplification and Taxpayer-Friendly Reforms

CA Ajit Shah, Partner at N. A. Shah Associates LLP, shared his key expectations for Budget 2025 with ET Wealth on the much-anticipated rationalization and simplification of the Income Tax Act. He highlighted the need to amend provisions around reopening of assessments and emphasized the importance of taxpayer-friendly measures to expedite refunds and grievance resolution.

To read more, check the attached document.

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Chintan Ghelani – quote in CXO Today live blog

CA Chintan Ghelani, Associate Partner at N. A. Shah Associates LLP, shared his insights with CXO Today on key expectations for Budget 2025, emphasizing TDS simplification, resolving tax refund delays & establishing a structured timeline for tax appeals. He also highlighted the need to reduce tax rates for small businesses, streamline and issuance of timely refunds to enhance efficiency and fairness in the tax system.

To read more, check the attached document.

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Prashant Daftary – ET Wealth

As India prepares for the Union Budget 2025, CA Prashant Daftary from N. A. Shah Associates shared his insights with ET Wealth on expectations for the upcoming budget, focusing on the need for higher tax exemptions and changes in ESOP taxation. He also highlighted the anticipation of the Direct Tax Code (DTC) to simplify tax laws and reduce litigation.

To read more check the attached document.

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Gopal Bohra – quote in Financial Express Live Blog

CA Gopal Bohra, Partner at N. A. Shah Associates LLP, shared his expert views with Financial Express on key expectations for Budget 2025, suggesting that increasing the standard deduction and raising the housing loan interest deduction could benefit taxpayers and boost consumption.

To read more check the attached document.

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Prashant Daftary – quote in The Hindu Business Line

With the Union Budget 2025 on the horizon, CA Prashant Daftary from N. A. Shah Associates shares his views with The Hindu Business Line on the government’s expected approach to balancing fiscal deficit targets after considering the increased infrastructure investment, job creation incentives etc.

To read more check the attached document.

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Will 2025 see Union Budget 2025?

As India gears up for the Union Budget 2025, CA Parag Mehta from N. A. Shah Associates LLP shared his views with ETCFO on expectations for the upcoming budget, focusing on key GST reforms.
He emphasized the need for a centralized assessment system to streamline multi-state compliance and a simpler GST registration process to support SMEs, especially in co-working spaces.
To read more, click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/budget-2025-india-inc-seeks-gst-overhaul-simplified-rates-digital-tools-and-compliance-ease/117616413

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Shared views with ETCFO on key expectations for the budget

As India prepares for its Union Budget 2025, CA Dhaval Selwadia, Partner at N. A. Shah Associates LLP, shared his expert views with ETCFO on key expectations for the budget. He highlights the need to reduce the corporate tax rate to 20% and reintroducing preferential tax rates to boost FDI, manufacturing and startups.
To read more, click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/budget-2025-india-inc-seeks-game-changing-corporate-tax-cuts-rd-boost-and-msme-overhaul/117588182

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Will 2025 see formation of GST Tribunal?

CA Parag Mehta, Partner at N. A. Shah Associates LLP, highlights the long-overdue operationalisation of the GST Tribunal in The Economic Times, emphasizing its importance for quick dispute resolution thereby reducing business uncertainty for taxpayers
To read more, click on: https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/gst-outlook-2025-tribunals-easing-compliance-rate-rationalisation-expected-in-new-year/116772637?utm_source=copy&utm_medium=pshare

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GST Amnesty Scheme -a Game Changer for Taxpayers.

CA Parag Mehta, Partner at N. A. Shah Associates LLP, calls the GST amnesty scheme a game changer in The Economic Times. He views that by addressing legacy disputes, it reduces litigation, building trust between taxpayers and authorities.
To read more, click on https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/wrap-2024-key-gst-measures-from-amnesty-to-e-invoicing-aimed-at-ease-of-doing-biz-transparency/116691326

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Will Switzerland’s MFN suspension reshape India’s cross-border tax landscape?

CA Gopal Bohra, Partner at N. A. Shah Associates LLP, shares his expert view in The Economic Times on the implications of the Swiss Government’s suspension of MFN status. He highlights how this move increases withholding tax on dividends for Indian taxpayers.
To read more, click on https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/swiss-mfn-status-suspension-poses-tax-challenges-for-indian-firms-may-hit-inbound-investments/116431386?utm_source=top_story&utm_medium=homepage

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CA Parag Mehta, Partner at N. A. Shah Associates LLP, share his thoughts in The Economic Times for rationalizing GST into three rates

CA Parag Mehta, Partner at N. A. Shah Associates LLP, share his thoughts in The Economic Times for rationalizing GST into three rates. He emphasizes how this move could reduce confusion, streamline compliance, and enhance the business ecosystem.

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Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert view in The Economic Times

Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert view in The Economic Times, emphasizing that extending the GST Compensation Cess again would set a troubling precedent, sending the wrong signals to the public and industry.

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Partner at N. A. Shah Associates LLP, shares his expert perspective in The Economic Times

CA Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert perspective in The Economic Times on the much-anticipated rollout of GSTAT benches. He highlights how this milestone, after seven years of GST’s introduction, could clear massive case backlogs, ease judicial pressure and bring long-awaited relief to businesses and taxpayers alike.
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To read the article, click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/gstat-bench-rollout-will-clear-backlog-and-ease-judicial-pressure-say-experts/115730404

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Indirect Tax at N. A. Shah Associates LLP shared his insights in The Economic Times

CA Parag Mehta, Partner, Indirect Tax at N. A. Shah Associates LLP, shared his insights in The Economic Times, appreciating IMS as a step forward but calling for more clarity on rectification processes and training for assesses.

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High Court quashes GST demands on seconded employees of foreign firms; experts say gives clarity on liability

CA Parag Mehta, Partner at N. A. Shah Associates LLP, provides a compelling analysis in The Economic Times on the High Court’s recent ruling that clears GST ambiguities for foreign affiliates’ seconded employees, aligning with CBIC’s guidance to streamline compliance
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To read more, click here: https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/high-court-quashes-gst-demands-on-seconded-employees-of-foreign-firms-experts-say-gives-clarity-on-liability/114754903?utm_source=latest_news&utm_medium=homepage

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GSTN restores July-August 2017 returns in The Economic Times

CA Parag Mehta, Partner at N. A. Shah Associates LLP, underscores the importance of accessing archived GST data as GSTN restores July-August 2017 returns in The Economic Times.

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GSTN restores July, August 2017 GST returns data; experts suggest ERP upgrade

CA Parag Mehta, Partner at N. A. Shah Associates LLP, underscores the importance of accessing archived GST data as GSTN restores July-August 2017 returns in The Economic Times.
To read more click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/gstn-restores-july-and-august-2017-gst-returns-data-experts-praise-decision/113798650?utm_source=top_story&utm_medium=homepage

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Secure your GST data before it’s archived!

CA Parag Mehta, Partner at N. A. Shah Associates LLP, emphasized the importance of downloading and preserving critical records in the ETCFO stating that the trade should download and save September 2017 return data before it’s archived.
To read more click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/gstn-asks-taxpayers-to-secure-records-as-data-archival-policy-takes-effect/113660255?utm_source=top_story&utm_medium=homepage

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Government eases GST refund rules for exporters; experts see operational challenges

CA Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert insights with ETCFO, noting that while the eased GST refund rules for exporters is a positive change, the complexities of amending Bills of Entry remain a challenge.
To read more click on : https://cfo.economictimes.indiatimes.com/news/tax-legal-accounting/government-eases-gst-refund-rules-for-exporters-experts-see-operational-challenges/113288536?utm_source=top_story&utm_medium=homepage

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GST Council’s B2C e-invoicing plan to reduce tax evasion, improve compliance

CA Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert insights with ETCFO on the GST Council’s B2C e-invoicing initiative aimed at reducing tax evasion and improving compliance. He anticipates that the pilot will offer valuable insights on the effectiveness of B2C E-invoicing.
To read more click on : GST Council B2C E-invoice: GST Council’s B2C e-invoicing plan to reduce tax evasion, improve compliance, say experts, ETCFO (indiatimes.com)

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Top IT firms TCS, Infosys, TechM face flurry of GST notices

CA Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert insights with The Economic Times on the recent surge of GST notices faced by top IT firms. He explains that due date of issuance of order for FY 2019-20, the rise in the number of assessees and multi-state registrations as key reasons for such substantial increases in notices/orders.
To read more click on : https://economictimes.indiatimes.com/tech/information-tech/country-roads-take-top-tech-companies-to-labyrinths-of-gst-notices/articleshow/113200603.cms?from=mdr

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Infosys GST Notice Sparks Concern About How Small Firms Will Deal With Huge Demands

CA Parag Mehta, Partner (Indirect Tax) at N. A. Shah Associates LLP, shares his analysis with NDTV Profit on after effect of the infosys GST notice and how such notices will impact small and medium-sized businesses in terms of litigation cost, interest and penalties.
To read more click on : https://www.ndtvprofit.com/business/infosys-gst-notice-sparks-concern-about-how-small-firms-will-deal-with-huge-demands

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Karnataka withdraws pre-show cause IGST notice to Infosys

CA Parag Mehta, Partner (Indirect Tax) at N. A. Shah Associates, critiques the Karnataka department’s withdrawal of IGST notice to Infosys as the issue is already settled by the separate circular.
To read more, click on : https://economictimes.indiatimes.com/tech/information-tech/karnataka-withdrew-pre-show-cause-igst-notice-to-infosys/articleshow/112203364.cms?from=mdr

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DGGI ends FY18 GST proceedings against Infosys

CA Parag Mehta, Partner at N. A. Shah Associates LLP, shares his expert insights with Economic Times noting that dropping of case against Infosys by DGGI for fiscal 2018 will also likely lead to dropping the cases for 2019 and 2020, however, notices for 2021 and 2022 are still expected to be issued within the standard timeframe. To read more, click on https://economictimes.indiatimes.com/tech/information-tech/dggi-ends-fy18-gst-proceedings-against-infosys/articleshow/112252540.cms?from=mdr

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Salary package Rs 13 lakh and yearly deductions Rs 4 lakh, which tax regime can you choose; old or new? Know through example

CA Chintan Ghelani, Associate Partner at N.A. Shah Associates LLP, shares his expert insights with Zee Business on the preference of the new tax regime by salaried persons, due to its reduced tax slabs and enhanced standard deduction.
To read more, click on https://www.zeebiz.com/personal-finance/news-budget-2024-taxpayers-old-new-tax-regime-standard-deduction-exemption-concessional-tax-rate-306738

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Maximise tax savings with home loan deductions

CA Chintan Ghelani, Associate Partner at N. A. Shah Associates, shares his expertise in Business Standard about maximizing tax savings through home loan deductions, highlighting the benefits of interest and principal repayment deductions under the Income Tax Act of 1961.

To read more, click on : https://lnkd.in/dRZvjTJ5

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Expert Insights on Union Budget 2024 by CA Prashant Daftary

CA Prashant Daftary, Partner at N.A. Shah Associates LLP, highlights Union Budget 2024’s land reforms, including digitization and a unified land identification number, as breakthrough measures enhancing transparency and ease of business.

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Budget 2024 gives push to GST simplification and transparency, say experts

CA Milan Mody, Managing Partner at N A Shah Associates, shares his expert views in The Economic Times, highlighting the positive impact of Budget 2024’s by simplifying GST and other financial regulations, despite concerns over increased capital gains tax and Securities Transaction Tax (STT).

To read more, click on : https://lnkd.in/dbm58qtE

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Budget 2024 impact: Will liquor prices fall as Extra Neutral Alcohol to be out of GST’s purview?

Ankit Joshi, Associate Partner, at N. A. Shah Associates, shares his expert views in Economic Times about probable reduction in liquor prices as Extra Neutral Alcohol is exempted from GST thereby lowering manufacturing costs.

To read more, click on : https://lnkd.in/db456vNv

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Expert Insights on Union Budget 2024 by CA Parag Mehta

CA Parag Mehta, Partner at N.A. Shah Associates LLP, appreciates Union Budget 2024’s proposal for conditional waiver of interest and penalties on full tax payment offering taxpayer relief, reducing litigation and boosting government revenue.

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Expert Insights on Union Budget 2024 by CA Dhaval Selwadia

CA Dhaval Selwadia, Partner at N.A. Shah Associates LLP, highlights that the reduction of tax rates for foreign companies from 40% to 35% in Union Budget 2024 is expected to boost FDI, making India more attractive for foreign investors and fostering job creation.

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Expert Insights on Union Budget 2024 by CA Aastha Dhowan

CA Aastha Dhowan, Partner at N.A. Shah Associates LLP, appreciates the Union Budget 2024 for exempting additional cancer medicines from custom duty to combat rising healthcare costs.

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Budget 2024: Why Is It an Opportune Time to Hike Section 80C Deduction Limit?

With the first budget of the Modi 3.0 regime approaching Aastha Dhowan, Partner at N. A. Shah Associates, shared her expert insights with Times Now highlighting the need to raise the Section 80C deduction limit in Budget 2024 to reflect rising living costs and essential expenses and how such move could offer significant relief to middle-class taxpayers.

From Chaos to Clarity: The Seven-Year GST Evolution

India’s taxation system has been revolutionized by the implementation of GST on July 1, 2017, achieving significant milestones while overcoming various challenges.

Parag Mehta – Partner and Ankit Joshi – Associate Partner at N.A. Shah Associates LLP, shared their comprehensive insights with CFO Economic Time analyzing 7 years of GST – its accomplishments, ongoing issues, and future expectations.

Seminar and Webinar

CA Chintan Ghelani, Partner at N. A. Shah Associates LLP, led a group at the 49th Residential Refresher Course (RRC) on Direct Tax organised by The Chamber of Tax Consultants at Sheraton Grand Bengaluru.

He conducted an engaging discussion on “Case Studies in Direct Taxes – Mock Tribunal Approach”, sharing practical insights and encouraging meaningful dialogue among participants.

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Webinar on 14th February Internal Audit Report Writing and Communication to Stakeholders by CA Prashant Daftary

CA Prashant Daftary, Partner – Audit & Assurance at N. A. Shah Associates LLP, will be the speaker at an upcoming webinar on Internal Audit Report Writing and Communication to Stakeholders, organised by the Institute of Internal Auditors (IIA), aimed at strengthening the quality and effectiveness of internal audit reporting.

14th February 2026

11:00 AM – 1:00 PM

Key takeaways from the webinar:

How to write effective and impactful internal audit reports

Managing stakeholder expectations through clear communication

Avoiding common pitfalls in audit reporting

Click on the link to Register: admin.iiaindia.co/members/transactionview?eventcode=5863

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Session on 08 February Direct Tax Provisions of the Union Budget 2026 by CA Milin Bakhai

CA Milin Bakhai, Partner – Direct Tax at N. A. Shah Associates LLP, will be sharing his expert insights as a speaker on the Direct Tax Provisions of the Union Budget 2026 on Sunday, February 8, 2026 from 10:00 am to 12:00 pm at Khar Gymkhana, Khar. Organised by the Khar CA Study Circle of WIRC of ICAI.
This session will offer valuable insights into the latest Direct Tax amendments and budgetary proposals, empowering professionals to deepen their understanding and apply the provisions with greater clarity and confidence.

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Session on 31 January People, Pay and Provisions Accounting Insights on the New Labour Codes by CA Milan Mody

CA Milan Mody, Managing Partner at N. A. Shah Associates LLP, will share his expert insights as a panelist on topic “People, Pay and Provisions: Accounting Insights on the New Labour Codes,” organized by ICAI (The Institute of Chartered Accountants of India) at Session 37 of WOFA 2026 (World Forum Of Accountants) at India Expo Centre & Exhibition, Greater Noida, scheduled on 31st January, 2026, from 12:00 pm to 1:00 pm.
The session will focus on key accounting and compliance considerations under the new labour codes, covering people-related costs, statutory provisions, and evolving regulatory requirements relevant for accounting and finance professionals.

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Webinar on 24th January - Unleash the Power of ChatGPT in Internal Audit by Samir Shet

CA Samir Shet, Assistant Manager – Internal Audit at N. A. Shah Associates LLP, will be facilitating a knowledge-focused webinar on “Unleash the Power of ChatGPT in Internal Audit”, hosted by The Institute of Internal Auditors India, on 24 January 2026, from 3:00 PM to 5:00 PM.
The webinar aims to provide participants with practical perspectives on integrating ChatGPT into internal audit processes, enhancing efficiency, improving documentation, and strengthening decision-making through the effective use of artificial intelligence.

To register, click on: https://admin.iiaindia.co/members/transactionview?eventcode=5845

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CA Prashant Daftary, Partner – Audit & Assurance at N. A. Shah Associates LLP, will be sharing expert insights as a speaker in an engaging webinar on “Internal Audit Report Writing and Communication”, organized by the Internal Audit Standards Board, ICAI, on 13th January 2026, from 5:00 pm to 7:00 pm.

This session will provide participants with practical guidance on drafting effective internal audit reports, enhancing communication and strengthening the overall impact of internal audit findings.
To register, click on: https://live.icai.org/iasb/13012026/

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CA Bhakti Shah, Senior Assistant Manager – Internal Audit at N. A. Shah Associates LLP, will be sharing expert insights as a speaker in an engaging webinar on the topic “Internal Financial Controls”, organized by The Western India Regional Council of ICAI, on 14th January 2026, from 5:00 pm to 7:00 pm.
This session will provide participants with a practical understanding of internal financial controls, their significance in strengthening governance, managing risks, and ensuring regulatory compliance

To register, click on: https://wirc-icai.org/members/members-events-details/6sXJcY0b/Study-Group-Single-Day-Registration-for-IA-14-Jan

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A strong knowledge-sharing culture drives continuous learning and collective growth at N. A. Shah Associates LLP.

CA Nalin Shah, Partner – Audit & Assurance, led an internal session on key CSR provisions under the Companies Act, drawing insights from MCA FAQs to address practical implementation challenges.

Key takeaways from the session:
* Shift mindset beyond compliance
* Continuous monitoring of CSR activities
* Due diligence of implementing agencies
* Careful compliance with CSR disclosures in the Annual Report

The session highlighted CSR as a strategic tool for social impact, beyond mere compliance.

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Glimpses of an insightful session by CA Kalpesh Panchal, Partner at N. A. Shah Associates LLP, sharing his valuable insights as a panelist on the topic “Expectations from Internal Auditors and Value Addition by Internal Auditors”.
The session was organized by ICAI Nashik Branch (WIRC) at ICAI Bhawan, Nashik on Tuesday, 09 December 2025.

The session offered valuable insights into the evolving role of internal auditors, practical approaches to addressing emerging challenges, and opportunities for enhancing the effectiveness and value of internal audit practices.

Panelist: Mukundan K V and Kachwala Murtuza Onali

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N.A. Shah conducted a session – THRIVE: Skills & Mindset for Professional Effectiveness at Work, led by an expert speaker.
The session enriched our newly qualified Chartered Accountants with the essential skills needed to excel both professionally and personally.
This interactive session covered critical topics ownership, productivity, communication, conflict management, leadership and accountability.

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Glimpses of an engaging session by CA Bhavin Kapadia, Partner at N. A. Shah Associates LLP, on “Key Areas of Company Audit and Audit Report including CARO” at the Physical Study Circle Meeting held on 16th November 2025 at Khar Gymkhana, Mumbai.
The session offered valuable insights into critical audit considerations, practical challenges and evolving reporting requirements

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Glimpses of an engaging session moderated by CA Prashant Daftary, Partner at N. A. Shah Associates LLP, on “Interview & Interrogation Strategies in Fraud Cases” at the 5th Anti-Fraud Summit, organized by the IIA Bombay Chapter on 5th November 2025 at Ginger, Mumbai Airport.
The session offered valuable insights into investigative strategies essential for detecting fraud and strengthening internal controls.

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Knowledge-sharing culture ensures continuous learning, collaboration and growth together.

CA Chintan Ghelani, Direct Tax Partner at N. A. Shah Associates LLP, led an insightful session on “Taxation and Disclosures related to ESOPs”. The session highlighted key aspects of ESOP, it’s taxation and disclosure requirements as well as controversies related to ESOPs while team members actively engaged in discussions that enriched the learning experience.

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CA Parag Mehta, Partner at N. A. Shah Associates LLP, will be sharing his expertise in an insightful webinar on “GST Reforms 2.0”, organized by the Leo Club of Mumbai, on 28th September 2025 at 11:00 AM onwards.
This session will provide participants with practical knowledge and in-depth understanding of the latest GST reforms, their implications, and strategies to navigate them effectively.

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Glimpses of enriching session by CA Milan Mody, Managing Partner at N. A. Shah Associates LLP, sharing his valuable insights as a speaker on “Reskilling and Staying Relevant in the Digital World”.
The session was part of the Program on Future Proofing IA Profession Catalyst for Innovation Resilience and Growth, organized by WIRC of ICAI at ICAI Tower, BKC, Mumbai, on 12th September 2025.
With active participation, the session provided valuable perspectives on adapting skills, embracing innovation and thriving in today’s rapidly evolving digital era.

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N. A. Shah Associates LLP is hosting an exclusive webinar on “GST 2.0 – Next-Generation Reforms”, on 9th September 2025 (Tuesday) from 4.00 pm – 5.00 pm.

Announced on 15th August 2025 by Hon’ble PM Shri Narendra Modi and approved in the 56th GST council meeting, GST 2.0 ushers in a new era of simplified compliance, rationalised rates and citizen-first policies across industries.

Expert Speakers:
CA Parag Mehta
CA Jitendra Patel
CA Ankit Joshi

Register now: https://events.teams.microsoft.com/event/b024c307-cd4f-478d-be95-8325e6d38ccb@799b10af-590e-47ab-983f-087334cbf830

Glimpses of CA Milan Mody, Managing Partner – N. A. Shah Associates LLP, at the National Conference on Corporate Laws organized by WIRC of ICAI.
As a panelist, he shed light on Financial & Audit Reporting and Auditor Oversight, with strategies to ensure quality and professional empowerment.
With 100+ participants registered, the session turned into an enriching learning experience.

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CA Prashant Daftary, Partner at N. A. Shah Associates LLP, will be sharing his valuable expertise in an insightful webinar on ” Financial Statements of Non-corporate Entities (new format) and Audit Trail – practical challenges”, organized by The Chamber of Tax Consultants on 05th September 2025 from 4:30 PM to 6:30 PM.
This session will provide participants with deep insights into the revised financial statement requirements for non-corporate entities, practical challenges in maintaining an audit trail, and key guidance to ensure smooth compliance.

To register, click on: https://us06web.zoom.us/webinar/register/WN_i3Ipk2emQhGOeTo9GxGaIg#/registration

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Glimpses of valuable insights shared during an enriching session by CA Samir Shet, Assistant Manager – Internal Audit at N. A. Shah Associates LLP, on the topic “Unleash the Power of ChatGPT in Internal Audit” held on Friday, 25th July 2025, organized by the Western India Regional Council of The Institute of Chartered Accountants of India (WIRC of ICAI).

The session offered participants a hands-on understanding of how AI tools like ChatGPT can transform internal audit processes by enhancing efficiency, improving documentation, and streamlining workflows.

Kalpesh Panchal Bhakti Shah Samir Kasvala CA Virag Shah Yaswanth Kumar Gella Vaishali Gholap

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Glimpses of valuable insights shared during an enriching session by CA Chintan Ghelani, Partner – N. A. Shah Associates LLP, on the topic “From Grants to Gains: Unfolding the Tax & Disclosure Journey of ESOPs” on Sunday, 13th July 2025, organized by Khar CA CPE Study Circle of WIRC of ICAI.
The session offered participants practical understanding of ESOP taxation, key disclosure requirements, and real-world challenges faced by companies during implementation.

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Glimpses of valuable insights by CA Kalpesh Panchal, Partner – N. A. Shah Associates LLP, during an enriching session on the topic “Understanding Internal Audit, Evaluating Opportunities and Growing Practice” on Saturday, 12th July 2025, organized by the Kandivali CPE Study Circle of WIRC of ICAI.
The session offered a deep dive into the evolving scope of internal audit and how professionals can strategically scale their practice in this domain.

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Glimpses of valuable insights shared during an enriching session with CA Prashant Daftary, Partner – N. A. Shah Associates LLP, on the topic “ Finalisation of Non-Corporate entity accounts based on new format,” on Sunday, 6th July 2025, organised by Chembur CPE Study Circle of WIRC of ICAI.
The session offered participants much-needed clarity on the revised compliance requirements, practical challenges in finalisation, and key accounting standards applicable to non-corporate entities — making it a highly relevant and impactful learning experience for professionals in practice.

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Glimpses of valuable insights shared during an enriching session with CA Kalpesh Panchal, Partner – Internal Audit at N. A. Shah Associates LLP, on the topic “Value Deliverables by Internal Audit & Success Stories,” held on Saturday, 28th June 2025, organized by WIRC of ICAI.
The session provided practical perspectives on how internal audit goes beyond routine compliance to drive strategic value within organizations.
Attendees also discovered that impactful and result-oriented internal audits can contribute to organizational growth.

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Glimpses of valuable insights shared during an enriching session with CA Chintan Ghelani Ghelani, Partner – Direct Tax at N. A. Shah Associates LLP, on the topic “Taxation & Disclosures related to ESOPs,” scheduled on Sunday, 29th June 2025, from 11:30 AM to 1:30 PM, organised by the Borivali Central CPE Study Circle of WIRC of ICAI.
The session provided participants with practical knowledge and regulatory clarity on Employee Stock Option Plans (ESOPs), covering taxation, reporting obligations, and key challenges encountered by corporates and tax professionals.

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Glimpses of valuable insights shared during an enriching session with CA Prashant Daftary, Partner – N. A. Shah Associates LLP, on the topic “New Format For Non Corporate Entities And Applicability Of Accounting Standards,” held on Thursday, 3rd July 2025, organised by the Mumbai Central CPE Study Circle of WIRC of ICAI.
The session offered participants much-needed clarity on the latest compliance updates and practical aspects concerning non-corporate entities, along with a deeper understanding of applicable accounting standards, making it highly relevant for professionals in practice.

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We’re thrilled to continue our internal knowledge-sharing sessions at N. A. Shah Associates LLP — where learning never stops, and growth is always mutual.
The recent session was led by CA Ankit Joshi, Partner – Indirect Tax, who shared valuable insights on Input Service Distributor (ISD) under GST — a critical area in indirect taxation.
With active participation from team members across departments, the session sparked insightful discussions on practical challenges, compliance strategies, and effective credit distribution under the ISD mechanism.
At N. A. Shah, we believe that internal knowledge sharing not only sharpens technical expertise but also fosters collaboration and continuous improvement.

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Highlights from an insightful session led by CA Hitesh Jain, Partner – Direct Tax at N. A. Shah Associates LLP, on “Practical Issues in Head of Salaries,” held on Saturday, 7th June 2025, organized by WIRC of ICAI. The session offered valuable perspectives on real-world challenges and interpretations in salary taxation, empowering tax professionals with practical clarity and actionable insights.

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CA Prashant Daftary, Partner at N. A. Shah Associates LLP, will be sharing his valuable expertise in an insightful webinar on “Finalisation of Accounts – New Format for Non-Corporate Entities & Applicable Accounting Standards”, organized by Connect Easy on 20th May 2025 from 5:00 PM to 7:00 PM.
This session will provide an in-depth understanding of the recent changes in the financial statement format for non-corporate entities, along with a comprehensive overview of the applicable accounting standards.

To register, click on: https://www.instamojo.com/@Virag/l5c5b7e02d510401bb1761b2e89b30ed2/

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Glimpses of an impactful session where CA Prashant Daftary, Partner – Audit and Assurance at N. A. Shah Associates LLP, shared his expert insights as a panelist on “Reflections – A Decade of Indian Accounting Standards (IND AS)” during Accounting Standards Day, organized by WIRC of ICAI on Saturday, 3rd May 2025.
The session offered valuable perspectives on the evolution, challenges and practical learnings from the implementation of IND AS, contributing to a deeper understanding of its impact on financial reporting and corporate transparency.

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Highlights from the insightful session delivered by CA Vipul Ramoliya, Manager – Internal Audit at N. A. Shah Associates LLP, on “Data Analysis through Advanced Microsoft Excel,” organized by WIRC of ICAI, held on Friday, 25 April 2025.
The session provided valuable takeaways for professionals aiming to enhance their audit and analytical capabilities using Excel’s advanced features.

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Insights from the engaging session delivered by CA Prashant Daftary, Partner – Audit and Assurance at N. A. Shah Associates LLP, on “Finalisation of Accounts – New Format for Non-Corporate Entities along with Applicable Accounting Standards,” organized by the J.B. Nagar CPE Study Circle of WIRC of ICAI, held on Sunday, April 20

The session provided valuable guidance on navigating the new mandatory format and understanding key accounting standards relevant to non-corporate entities.

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Navigating Cross-Border Transactions
A glimpse into an insightful session led by CA Hitesh Jain, Partner – Direct Tax at N. A. Shah Associates LLP, decoding the interplay of Section 195, Form 15CA & 15CB in cross-border transactions. Organized by the WIRC of ICAI as part of the Relearn Series, this engaging event took place on Saturday, 19th April 2025. Tax professionals and practitioners gained valuable perspectives to navigate international transactions with greater clarity and confidence.

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Highlights from the insightful session conducted by CA Milan Mody, Managing Partner at N. A. Shah Associates LLP, on ‘Commonly Found Non-Compliances of Accounting Standards’ at the Awareness Program on Financial Reporting Practices, themed “Shaping the Future of Audit Excellence,” organized by the Financial Reporting Review Board (FRRB) of ICAI on 19th April 2025, hosted by Vadodra Branch (WIRC). Participants gained valuable insights into key compliance challenges and best practices in financial reporting.

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Glimpses of impactful discussions on Internal Audit & GST, where CA Kalpesh Panchal shared actionable insights on “Internal Audit Report Writing: Practical Insights”, highlighting strategies to improve clarity and effectiveness in audit reports.
CA Ankit Joshi further enriched the session by decoding recently mandated “ISD – Mechanism”, offering practical guidance on its implementation and relevance in indirect tax compliance.

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Webinar on 11th April - Internal Audit Report Writing by CA Prashant Daftary

CA Prashant Daftary, Partner at N. A. Shah Associates LLP, will be sharing his expert insights in a panel discussion on the topic “Internal Audit Report Writing” at a virtual session organized by The Chamber of Tax Consultants on 11th April 2025, from 6:00 PM to 8:00 PM.
This virtual session is designed to help professionals enhance their internal audit report writing skills—a key area that often defines the quality and impact of audit communication.

To register, click on:

https://us02web.zoom.us/webinar/register/WN_rDh1QqxuStenVTKCFUMveA#/registration

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CA Chintan Ghelani, Partner at N. A. Shah Associates LLP, led as Group Leader at the 48th Residential Refresher Course (RRC) on Direct Tax, organised by The Chamber of Tax Consultants in Raipur.
He headed an engaging group discussion on the insightful paper “Case Studies in Direct Taxation”, offering practical perspectives and driving meaningful dialogue among participants.

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CA Prashant Daftary, Partner at N. A. Shah Associates LLP, will be sharing his valuable expertise in an insightful webinar on “Internal Audit Assurance Maximisation in the Real Estate Sector”, organized by IIA India – Bombay Chapter on 1st March 2025.
This session will provide a deep dive into effective internal audit strategies, tailored for the real estate sector, helping organizations optimize their assurance processes and enhance operational efficiency.

To register, click on https://admin.iiaindia.co/members/transactionview?eventcode=3626

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CA Milan Mody, Managing Partner, N. A. Shah Associates LLP, will be sharing his expertise in an insightful webinar on “SA 600 (Revised) – Special Considerations: Audit of Group Financial Statements”, organized by The Chamber of Tax Consultants on the 21st of February 2025 from 5:00 PM to 6:30 PM.
The session will provide key insights into group audits, addressing special considerations and best practices.
To register, click on https://us02web.zoom.us/webinar/register/WN_06524OLNRFqXYnG_WNw88A#/registration

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CA Prashant Daftary, Partner at N. A. Shah Associates LLP, will share his expert insights on “Accounting and Revenue Recognition in Real Estate.” This insightful webinar, organized by Taxmann, is scheduled for Thursday, February 20, 2025, from 5:00 PM to 6:00 PM. The session will provide valuable insights into key accounting principles, revenue recognition challenges, and best practices essential for real estate developers.

To register, click on https://www.taxmann.com/webinars/accounting-revenue-recognition-in-real-estate

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N. A. Shah Associates LLP is hosting an exclusive GST webinar on 14th February 2025 from 4.00 pm to 5.00 pm to discuss the intricacies, implementation challenges for ISD compliance which is becoming mandatory from 1st April 2025 for businesses with a multi-state presence and the ongoing GST Amnesty Scheme till March 2025. It’s crucial to gear up and ensure seamless compliance.
Expert Speakers:
CA Parag Mehta – Partner, Indirect Tax
CA Jitendra Patel – Associate Partner, Indirect Tax
CA Ankit Joshi – Associate Partner, Indirect Tax

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Here’s a glimpse into the enlightening session conducted by CA Milan Mody, Managing Partner at N. A. Shah Associates LLP, on Saturday, 28th December 2024, at ICAI Tower, Bandra Kurla Complex.
Organized by WIRC, the session offered an in-depth understanding of the Corporate Social Responsibility (CSR) framework, highlighting key insights from annual report disclosures.

Participants gained invaluable knowledge to effectively navigate CSR regulations, ensuring compliance while driving meaningful impact.

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Steering Excellence in Auditing Standards
A glimpse into a dynamic and insightful session led by CA Bhavin Kapadia, Partner at N. A. Shah Associates LLP, decoding the intricacies of Auditing Standards. Organized by the Ghatkopar CPE Study Circle of WIRC, this impactful event took place on Saturday, 21st December 2024, at P. N. Doshi Women’s College (SNDT), Ghatkopar.Professionals left inspired, equipped with actionable strategies to elevate their audit practices and deepen their understanding of core standards.

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A Deeper Dive into Auditing Standards – Here’s a sneak peek into the remarkable session conducted by CA Prashant Daftary, Partner at N. A. Shah Associates LLP, on Sunday, 15th December 2024, at Mithibai College, Mumbai. Organized by the Vile Parle CPE Study Circle of WIRC, the session explored the finer points of Auditing Standards.

Participants gained valuable insights to refine their approaches, enabling them to align with evolving professional demands and deliver superior audit solutions. The session’s dynamic discussions left an indelible impact on all present.

https://www.linkedin.com/posts/nashahassociatesllp_auditingexcellence-auditstandards-wirc-activity-7275736718870278144-ergp?utm_source=share&utm_medium=member_desktop

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Steering Excellence in Auditing Standards – A glimpse into a dynamic and insightful session led by CA Prashant Daftary, Partner at N. A. Shah Associates LLP, decoding the complexities of Auditing Standards. Organized by the Goregaon CPE Study Circle of WIRC, this impactful event took place on Saturday, 14th December 2024 at DSIMS, Saraf College, Malad West, Mumbai.

Professionals left inspired, equipped with actionable strategies to elevate their audit practices and refine their understanding of core standards.

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Sharing a post-session glimpse by CA Prashant Daftary, Partner at N. A.
Shah Associates LLP, delivering insightful perspectives on “Practical
Insights – Audit of Companies” held on 14th September’24 at the Andheri
West CPE Study Circle of WIRC. It was an enlightening session that offered
participants a deeper understanding of key auditing practices.

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Highlights from the insightful session conducted by CA Prashant Daftary on ‘Practical Insights into the Audit of Companies’ and CA Bhavin Kapadia on ‘CARO,’ held on 1st September 2024, organized by the J. B. Nagar CPE Study Circle of WIRC.
Over 250 participants attended, engaging actively in discussions on these crucial topics. The sessions sparked valuable conversations on auditing challenges and legal requirements, with enthusiastic participation and thoughtful feedback, enriching the learning experience for all attendees.

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CA Aastha Dhowan, Partner at N. A. Shah Associates LLP, led an impactful Post-Union Budget Panel Discussion at H. R. College as a panelist, organized by the IMC Young Leaders Forum, which was successfully concluded by sparking new ideas and inspiring the leaders of tomorrow.

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Glimpse of the insightful seminar by CA Gopal Bohra and CA Parag Mehta from N. A. Shah Associates LLP on the Union Budget and GST focusing on JV/JD impacts on Leasehold & Freehold Lands which was jointly organized by Credai BANM, Credai MCHI, Credai MCHI Youth, Credai BANM Raigad, Credai MCHI Raigad, NMBDA Raigad, and Naredco Raigad-MMR, this event truly brought together the best minds in the industry

The seminar was attended by over 250 participants. The level of engagement from all the participants was outstanding, sparking insightful discussions on the challenges arising from budget amendments and the legal and practical implications under GST to builder fraternity.

The dedication and enthusiasm of the members were evident in every session and the thoughtful feedback shared was invaluable.

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Join us for an insightful webinar, hosted in collaboration with Taxmann , where CA Gopal Bohra Partner – Direct Tax, and CA Hitesh Jain, Associate Partner – Direct Tax, from N. A. Shah Associates LLP will provide their expert insights on the ‘Direct Tax Amendments proposed in Union Budget 2024-25’. Its scheduled on Friday, August 2, 2024, from 5:00 pm to 6:00 pm.To register, visit: https://lnkd.in/dP9WUucD.

https://www.linkedin.com/posts/nashahassociatesllp_webinar-directtax-unionbudget2024-activity-7223907701745979393-72Ea?utm_source=share&utm_medium=member_desktop

Amey Swami, Article – Internal Audit and Chhavi Agarwal, Article – Statutory Audit from N. A. Shah Associates LLP will be presenting papers for technical sessions at the Mega Conference of CA Students in Vasai on July 13-14, 2024.
This event is organized by the Board of Studies, The Institute of Chartered Accountants of India (ICAI) and hosted by the Vasai Branch of WIRC of ICAI.
Register Here: https://lnkd.in/gQjRwd7Z.

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Refresher session conducted by CA Milan Mody, Managing Partner at N. A. Shah Associates LLP at the Ghatkopar CPE Study Circle (GSC) on the topic “Companies (Auditors’ Report) Order, 2020”. Milan had also taken a session on the same topic at the GSC in April 2023. The session was held on Saturday, April 13, the event facilitated active interaction and participation, including discussions and questions among attendees. This session would be useful to GSC members since was held at the beginning of new audit season.

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Firm Offsite

Our Audit Team recently came together for an insightful and energizing offsite themed “Audit 360: Judgement, Insight and Impact” at the Kautilya Leadership Centre on 6th and 7th March 2026.
The two-day event was a perfect blend of professional learning, cross-functional collaboration and team bonding.
Team members presented diverse topics—from ITGC risks, CRM, and Trade Spends to an introduction to Python applications in Excel for Internal Audit. The sessions also featured experience sharing on ACM expectations, engaging case studies, expert advisory opinions, and insights on preparing proposals for IA, RCM, IFC, SOP, and special assignments—making it an interactive and enriching exchange of ideas that strengthened our collective learning and teamwork.
Team had the privilege of learning from CA Hitesh Jain – Partner, Direct Tax at N. A. Shah who conducted an engaging case study session on Business Combinations and their Income Tax implications, sparking thoughtful discussions and valuable insights.
It was truly a perfect blend of learning and fun — from quizzes on NFRA, QRB, Standards on Auditing (SA), Company Law, and Peer Review, to engaging team-building and recreational activities that strengthened connections within the team.

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NASHAH GST Offsite 2025 | Bridging Knowledge, Building Teams

Our Indirect Tax team recently came together at Meritas Picaddle Resort, Lonavala, for a dynamic two-day offsite filled with insightful discussions and team synergy.

From in-depth GST case law discussions, burning GST issues, cross-border transactions and GST portal challenges led by our enthusiastic GST team members to exploring ‘AI & GST in the Next 3–5 Years’—led by our guest speaker Mr. Rakesh Dube, Founder of Tax Genie—our two-day offsite was an intensive learning experience.

Beyond technical discussions, the offsite enabled creative thinking and team bonding, fueling both professional growth and personal connection.

From tax talks to team bonding—this offsite was the perfect blend of learning and laughter!
Here’s to gaining knowledge as a team, thinking ahead, and growing stronger as one.

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Our Direct Tax Team recently came together for an insightful and energizing offsite at Keshav Shrushti on 4th and 5th April 2025. The two-day event was a perfect blend of professional learning, cross-functional collaboration, and team bonding.
Key highlights included an interactive session on addressing tax-related queries from other departments, a deep dive into the challenges and implications of Block & Reassessment Proceedings, and a high-energy quiz—“Crack the Tax Code”—that made Direct Tax provisions both fun and competitive. The agenda also featured thought provoking case studies presentation by our article assistants.

Adding to the excitement, the team enjoyed fun-filled group activities and adventure sports at Juice Adventure Park, making the offsite both productive and memorable. Together, we continue to Bond, Deliberate, and Thrive!

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Glimpses from “Audit Offsite” at Keshav Shrushti on 28th February & 1st March 2025 – A perfect blend of learning, collaboration, and growth.
Our offsite was filled with engaging discussions, in-depth technical sessions, and team bonding activities that enriched our knowledge and strengthened our synergy.

We had the privilege of learning from expert speakers, who shared their invaluable insights:
Atmarpit Nishitji from SRMD conducted a Team Bonding Activity that broadened our perspectives.
Our esteemed external speaker, Mrs. Devika S Shah delivered enlighting session on Capital Market.
Ankit Joshi, Indirect Tax – Associate Partner, led an engaging and insightful session on the interplay between GST and Audit, providing key takeaways for the team.
Our Audit team members shared in-depth presentations and practical insights, along with an engaging role-play activity, fostering collaborative learning.
Engaged and empowered with new learnings and stronger teamwork, we continue to Bond, Deliberate, and Thrive!

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Our Indirect Tax team conducted GST Offsite at Keshav Shrushti on 26th and 27th July 2024
The offsite offered a unique combination of technical learning and team bonding, creating an enriching experience for all members.
Various members of Indirect Tax team conducted engaging sessions & in-dept presentation on various current GST topics, thereby imparting training to all the team members.

We also had the privilege of learning from distinguished speaker CA Vasant Bhatt who led an insightful session on “Principles of Natural Justice, CESTAT Procedures and Classification of Goods,” providing valuable knowledge on these critical topics.
Members also had a rejuvenating morning Yoga session by yoga instructor Ms. Anuradha Nichani promoting wellness and mindfulness.
All the sessions were not only informative but also empowering, leaving our team inspired and better equipped for future challenges. A big thank you to all our speakers for their invaluable contributions and to everyone who made the offsite a great success. Together, we continue to Bond, Deliberate and Thrive!

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Glimpses from “Audit offsite” at Keshav Srushti, Mumbai on 9th and 10th March, 2024 which was unique blend of technical learning and team bonding sessions.
We were also joined by speakers who shared their expert insights with us.

Tarun Bhojwani is associated with Tata Group since year 2003, have shared his insights on “Expectation from Auditors”.

Brahma Kumari Kavita, a RajYoga Meditation Teacher, practicing Rajyoga Meditation, shared her wisdom on “Work Life Balance”

Diana Mathias, our Business Advisory Partner, shared her views on “FEMA rules relevant for Assurance Functions”

These sessions were insightful and empowering for our team.

Kudos to our speakers for sharing their wisdom, and a big thank you to everyone who made ‘Bond, Deliberate and thrive’ a success!

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