#gstr 1

[cityscapesnaps]

GST Portal Not Working? Filing Tips and Deadline News

You are not alone if you have been attempting to file your GSTR-1 returns but have been unable to do so due to the GST portal being unavailable. Many taxpayers were frustrated by the website's technological problems as the filing deadline drew near.

What Happened?

The GST portal declared that they would be doing maintenance on January 10, 2025, from midnight to three o'clock. This suggested that no services were available at the time.

The following was stated in the message:

"Downtime was planned! The services offered by the website are being improved. On January 10, the services will not be available from 12:00 AM to 3:00 PM."

They said that users who had any questions should get in touch with their help staff.

Extended Deadline for Filing

The government has extended the GSTR-1 and GSTR-3B return filing deadline by two days, which is good news. This extension will provide you more time to file without fear of penalties.

What People are Saying

Many taxpayers raised concerns online:

"They should tell us about these problems earlier!"

"Will there be penalties if the portal wasn't working?"

"Why does this happen near every deadline?"

What You Can Do:

If you're having trouble logging in or filing, here's how to solve it:

Keep an eye out for developments on CBIC and GST notifications.

Prepare your returns offline so you can upload them when the portal is operational.

Use tools such as ClearTax GST login to make filing easier.

Contact the GST helpline if necessary (but it may be busy).

Important Points

After being unavailable for maintenance, the GST website is now back up and running.

There is a two-day extension in the GSTR-1 deadline.

To prevent problems, stay informed and submit your returns as soon as you can.

[taxationplanning]

HSN Reporting: GSTN Issues New Advisory On Mandatory Mentioning Of HSN Codes

HSN Reporting: GSTN Issues New Advisory On Mandatory Mentioning Of HSN Codes After successful implementation of Phase-I & Phase-II regarding HSN reporting in GSTR-1/ 1A, the GSTN has issued advisory on Phase-III of HSN reporting in GSTR-1/ 1A. The advisory is decoded as under: (1.) This phase will be implemented from February 2025 return period. (2.) Manual HSN entry has been replaced by…

[hexahomee]

GSTR-1 Due Date Extended for December 2024 Return: What You Need to Know

In a significant development for taxpayers, the due date for filing GSTR-1 returns for December 2024 has been extended due to ongoing technical issues with the GST portal. Originally set for January 11, 2025, this extension aims to provide relief to businesses struggling with portal glitches that have hampered their ability to file returns on time.

Technical Challenges Prompt Extension

The Goods and Services Tax Network (GSTN) has acknowledged major technical difficulties affecting the GST portal, which have led to widespread frustration among taxpayers. Many businesses reported being unable to submit their GSTR-1 returns, download necessary data, or respond to official notices due to these issues. As a result, the Central Board of Indirect Taxes and Customs (CBIC) is considering an extension of the filing deadline, potentially pushing it to January 13, 2025, for those under the Quarterly Return Monthly Payment (QRMP) scheme.

Impact on Businesses

Tax professionals have expressed concerns about the implications of these delays. Chartered accountant Himank Singla pointed out that repeated technical failures during peak filing periods have compounded issues for businesses. The inability to file GSTR-1 can disrupt the generation of GSTR-2B forms, which are crucial for clients claiming Input Tax Credit (ITC). This situation could force companies, especially multinationals, to pay GST liabilities in cash, impacting their cash flow significantly.

Recurring Issues with the GST Portal

The GST portal's downtime has been a recurring issue, with scheduled maintenance causing interruptions at critical times. As taxpayers await further announcements from the CBIC, many are calling for a more robust system that can handle high traffic and prevent such disruptions in the future. The current situation underscores the importance of having contingency plans in place for tax compliance.

Filing Requirements and Options

For registered taxpayers making outward supplies of goods or services, filing GSTR-1 is mandatory unless they fall under specific exemptions. Those with an annual turnover of up to ₹5 crore can opt for quarterly filing under the QRMP scheme. As businesses navigate these challenges, the extension provides a much-needed window to ensure compliance without undue pressure.

Conclusion

In conclusion, while the extension of the GSTR-1 due date offers temporary relief amid technical difficulties, it also highlights the ongoing need for improvements in the GST portal's reliability. Taxpayers are encouraged to stay informed about updates from the CBIC and prepare their filings promptly as the new deadline approaches.-Written By Hexahome

[cadeveshthakur]

Latest Amendment|GSTR-1/IFF Table No 14 &15| Supplies through ECO| Watch it before filing GSTR-1/IFF

[mastersindia]

Masters India is a GST Suvidha Provider (GSP) appointed by Goods and Services Tax Network (GSTN), a Government of India enterprise. Our mission is to build intuitive software solutions for complex problems faced by businesses across the globe. We are fulfilling our mission by offering tax and financial automation products to enterprises.

[babatax]

GSTR-1 not filed on time, be aware of these 5 consequences

Consequences of Not-Filing of GSTR-1 on time: Every registered taxpayer must submit accurate and timely returns under the Goods and Services Tax (GST). The GST Return must be filed on time, as there are severe repercussions for both the registered taxpayer and the recipient of supplies who miss the deadline. Forms GSTR-1 and GSTR-3B are two crucial GST returns that are crucial to the GST…

[open563]

How Open makes e-Invoicing Effortless With 100% Compliance

One of the major changes with the implementation of GST is that the invoices must be compliant with the new tax laws. The same applies to e-invoicing. e-Invoices are Electronic Invoices, that are used to authenticate B2B invoices electronically by e-Invoice portal for tax return purposes.

Read the full article here.

[accountingsikhehindime]

Download the Latest Offline Utility and File Returns on the GST Portal Error Fixed in Hindi 2023

नमस्कार दोस्तों इस पोस्ट मे आज हम Download the Latest Offline Utility and File Returns on the GST Portal Error को Fixed करना सीखेंगे। दोस्तों पिछली पोस्ट में मेने आप को बताया था कि GSTR 1 क्या है GSTR 1 को File कैसे करे। तभी से मुझे ��हुत से Friends के Comments आ रहे की Sir हमने GSTR 1 तो File करना सीख लिया है। परन्तु Tally से JSON File बनाने के बाद जब हम उसे GST Portal पर Upload करते हैं। तो हमे…

[scbhagat]

GST Accountants in Delhi by SC Bhagat & Co. – Your Trusted Tax Experts

In the ever-evolving taxation landscape of India, businesses require expert assistance to manage Goods and Services Tax (GST) compliances effectively. If you are searching for professional GST accountants in Delhi, look no further than SC Bhagat & Co. – a trusted name in taxation and financial services.

Why Choose SC Bhagat & Co. for GST Accounting Services?

SC Bhagat & Co. brings decades of expertise in accounting and taxation, ensuring businesses comply with GST regulations seamlessly. Here’s why we stand out:

Expert GST Compliance & Filing

GST compliance requires timely and accurate filing of returns. Our skilled accountants help businesses register under GST, file returns (GSTR-1, GSTR-3B, GSTR-9), and maintain proper records to avoid penalties.

Input Tax Credit (ITC) Management

Maximizing Input Tax Credit is crucial for reducing tax liabilities. We help businesses ensure proper documentation and reconciliation to claim ITC efficiently.

GST Audit & Advisory

Our team provides GST audit services, ensuring compliance with regulatory standards. We also offer advisory services on tax planning, helping businesses optimize their tax liabilities.

Handling GST Notices & Litigation

Received a GST notice? Our experts assist in responding to tax authorities, resolving disputes, and representing clients in GST litigation cases.

Customized GST Solutions for Businesses

Every business has unique tax requirements. Whether you are a startup, SME, or large enterprise, we offer tailored GST solutions to meet your needs.

Benefits of Hiring a Professional GST Accountant

Avoid Penalties & Legal Issues: Ensuring timely GST filings prevents hefty penalties.

Time-Saving & Accuracy: Professional accountants handle complex tax calculations, saving businesses valuable time.

Better Financial Planning: Expert guidance helps in cash flow management and tax savings.

Seamless GST Compliance: Stay updated with the latest GST amendments and regulatory changes.

Get in Touch with SC Bhagat & Co. Today!

Managing GST can be complex, but with SC Bhagat & Co., you can ensure hassle-free tax compliance and expert financial guidance. Contact us today for professional GST accountants in Delhi and let us handle your taxation needs with precision and reliability.

[masllp]

GST Return Filing in Delhi by Masllp: Simplifying Your Compliance Journey

If you are a business owner in Delhi, managing Goods and Services Tax (GST) returns can be challenging. Staying compliant with the evolving GST laws while running day-to-day operations is no easy task. That’s where Masllp steps in. With our expert GST return filing services, we help businesses in Delhi stay compliant, efficient, and stress-free.

Why GST Return Filing Is Important GST return filing is a mandatory requirement for all registered businesses in India. It involves the submission of details regarding sales, purchases, input tax credit (ITC), and tax payments to the government. Failing to file GST returns on time can result in penalties, interest, and even suspension of your GST registration. Therefore, it is crucial to partner with professionals who can help you manage this process seamlessly.

Common Challenges Faced by Businesses in GST Return Filing Complexity in compliance: The frequent changes in GST regulations can make compliance complicated, especially for small businesses. Technical errors: Filing incorrect returns can lead to penalties and issues with GST reconciliation. Timely submissions: Missing GST filing deadlines can result in heavy fines. Lack of clarity on ITC: Understanding input tax credits and adjusting them correctly is often confusing for business owners. How Masllp Simplifies GST Return Filing in Delhi At Masllp, we understand that every business has unique tax filing requirements. We offer tailored GST return filing solutions that are designed to help businesses in Delhi navigate the complexities of GST compliance. Here’s how we do it:

End-to-End Support From the collection of data to the final filing of your GST returns, we manage everything on your behalf. Our team of tax experts ensures that your GST returns are accurate and filed on time, preventing any penalties.

Expert Consultation Our professionals are well-versed in the latest GST regulations. We provide personalized consultation, helping you understand your GST liabilities, input tax credits, and the correct way to file returns.

Timely Reminders We send out timely reminders about upcoming deadlines to ensure you never miss a filing date. This helps in avoiding last-minute hassles and potential penalties.

Accurate ITC Calculations One of the most critical aspects of GST return filing is claiming Input Tax Credits (ITC) accurately. Our experts ensure that your ITC claims are correct and compliant with GST rules, maximizing your tax benefits.

Error-Free Filing We take utmost care to avoid technical errors in your returns, ensuring that your filings are error-free and compliant with the latest GST laws.

Why Choose Masllp for GST Return Filing in Delhi? Experience & Expertise: We have years of experience in handling GST returns for businesses across various sectors. Tailored Services: Our services are customized to meet the specific needs of your business. Cost-Effective Solutions: We offer competitive pricing without compromising on the quality of our services. Data Security: Your financial data is safe with us. We maintain strict confidentiality and follow best practices in data security. Hassle-Free Process: With our GST return filing services, you can focus on growing your business while we handle the compliance work. Types of GST Returns We Handle At Masllp, we provide end-to-end support for all types of GST returns, including:

GSTR-1: Details of outward supplies GSTR-3B: Summary return for tax payment GSTR-4: For composition scheme taxpayers GSTR-9: Annual return GSTR-10: Final return for canceled GST registrations Whether you are a small business, a startup, or a large corporation, we have the right solutions to simplify your GST return filing process.

Contact Us If you are looking for reliable GST return filing services in Delhi, look no further than Masllp. Our team of experts is here to make your GST compliance journey easy and hassle-free.

Contact us today to learn more about how we can assist you with GST return filing and ensure timely and accurate submissions.

[finschool]

Indirect Tax

Recent changes in Indirect Tax

Indirect taxes are taxes that are assessed by Government on goods and services, rather than on individualities or businesses directly. These taxes are collected by businesses from consumer when they buy goods or services, and also remitted to the government. Indirect taxes are often referred to as consumption taxes because they are based on consumption of goods and services rather than income or wealth. Indirect taxes can take many forms, including sales taxes, value-added taxes (VAT), excise taxes, and tariffs.

During the Union Budget of 2023 “Amrit Kaal”, It was the very first time when the indirect tax proposals were presented before the direct tax proposals. In the Proposal of indirect tax Presented in the Union Budget of 2023 there were 4 major changes which caught the attention of the citizens.

Following are the 4 major changes:

Customs Perspective:  In the Union Budget, to promote the ‘Make in India’ campaign and give to a boost to domestic manufacturing and enhance exports, the government and our FM has proposed few changes in the rate of import duties. The import duties on electric chimneys and cigarettes will now be more expensive, while on the other hand import of gold, silver, platinum, coin, etc., will be cheaper. Also, some exemption has been proposed towards goods or machinery used for manufacturing of lithium-ion battery.

GST Returns To Be Filed Within Three Years:  GSTR 1, GSTR 3B and GSTR 9and GSTR 9C would now be restricted for filing, post expiry of three years from the due date of filing of the relevant GST return. Until now, there was no threshold on time for filing GST return and any taxpayer could file belated returns along with interest and late fees. However, going forward, in future these dates have been locked so as to have clarity on the timelines for litigation.

Widening of Scope of OIDAR:  The Online Information and Database Access and Retrieval (OIDAR) services were brought under the tax bracket in the service tax regime and subsequently, in the GST regime. However, due to some exceptions in OIDAR and non-taxable online recipient, multiple services were escaping tax. In order to remove those exceptions, the Budget proposes to amend both the definitions and make OIDAR a wider segment for taxability purpose.

Taxability of High Sea Sales and Out-And-Out Sales: Out-and-out sales and high-sea sales were inserted in schedule III of the CGST Act, 2017 with effect from Feb. 1, 2019. However, the GST authorities were demanding GST from July 1, 2017 to Jan. 31, 2019. So to clarify this ambiguity and confusion, the budget has stated that such insertion will be with retrospective effect from July 1, 2017. This is a relief for taxpayers who are undergoing a litigation on these aspects. However, if the taxpayer has already paid the taxes for such period on the specified sales, the Budget has clearly specified that no refund of such tax can be claimed.

Although there are other changes as well but from Tax perspective the above 4 are major changes.

[ebizfilingindia-blog]

How to GST Apply Online for E-commerce Businesses

In recent years, e-commerce companies in India have added Goods and Services Tax (GST) to adjust the taxation of e-commerce transactions. If you run an e-commerce business, expertise on how to apply GST online is important for compliance and smooth operations. This article shall help you know about how to apply GST Online for E-commerce Businesses

1. Eligibility for GST Registration for E-commerce Businesses According to Indian GST legal guidelines, e-commerce operators who meet any of the following criteria must check-in for GST: 1. Aggregate turnover exceeds ₹40 lakhs (₹20 lakhs for unique class states). 2. You are worried about the inter-nation supply of goods and services. 3. You are walking an enterprise in which you provide offerings through online platforms (e.g., promoting goods, reserving services, or offering virtual merchandise). 4. You are a seller who's running below the e-trade platform. 5. If your business falls under those criteria, you need to GST apply online for proper registration. 2. Documents Required for GST Apply Online The required documents include: 1. PAN card of the commercial enterprise or person 2. Aadhaar card (for identification verification) 3. Business address proof (e.g., energy invoice, hire settlement) 4. Bank account declaration or cancelled cheque 5. Photographs of the enterprise proprietor(s) 6. Proof of the enterprise constitution (Partnership deed, Articles of Association for Pvt. Ltd, and so on.) 7. Ensure you have got a majority of these documents geared up before you proceed with GST practice online to keep away from delays. 3. Steps to GST Apply Online for E-commerce Businesses Here’s a step-by-step guide:

Firstly, Go to the GST Portal (wwww.Gst.Gov.in) Register for GST: Click at the 'Services' tab and then pick 'New Registration' below 'Registration'. Fill in Details:Provide your commercial enterprise information, including criminal call, PAN, business type, and cope with. You will also want to choose the relevant tax scheme. Submit Documents:Upload scanned copies of the necessary files like PAN, Aadhaar, and commercial enterprise deal with proof. Verification: After submission, the GST portal will verify your software and documents. Receive GSTIN: Once your software is accepted, you'll get hold of a GST Identification Number (GSTIN), that's crucial to your commercial enterprise.

4. GST Compliance for E-commerce Businesses After successfully registering for GST, e-commerce businesses have to adhere to several compliance requirements: Invoicing: Ensure that each transaction, whether it’s a sale or buy, has a GST-compliant invoice. GST Returns: File regular GST returns (GSTR-1, GSTR-3B) on a month-to-month or quarterly basis. GST Payment: Pay the applicable GST on time to keep away from consequences. Record Maintenance: Maintain accurate facts of all sales, purchases, and tax bills. Conclusion In conclusion, GST apply online for e-commerce businesses is an essential manner to ensure criminal compliance and keep away from any future penalties. It affords a streamlined gadget for tax collection and encourages transparency in commercial enterprise operations.

[taxationplanning]

HSN Code: GSTN Issues Advisory On Mandatory Mentioning Of HSN In GSTR-1/ 1A

HSN Code: GSTN Issues Advisory On Mandatory Mentioning Of HSN In GSTR-1/ 1A The GSTN has launched Phase-III regarding Table-12 of GSTR-1/ 1A (HSN wise summary of outward supplies). The GSTN has issued advisory on mandatory mentioning of HSN code in GSTR-1/ 1A from return period January 2025. In this phase, manual entry of HSN has been replaced by choosing correct HSN from given Drop down. Also,…

[alishajoy059]

Reverse Charge Mechanism: What It Is & How It Works in GST

The Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) is a crucial provision that shifts the responsibility of tax payment from the supplier to the recipient. While GST typically follows the forward charge mechanism, where the supplier collects tax from the buyer and remits it to the government, reverse charge applies in specific cases.

Understanding the Reverse Charge Mechanism is essential for businesses to ensure compliance and avoid penalties. In this article, we will explain what RCM is, when it applies, how it works, and the key compliance requirements.

What is Reverse Charge Mechanism in GST?

Under the Reverse Charge Mechanism (RCM), the recipient of goods or services is liable to pay GST instead of the supplier. This mechanism ensures tax compliance in cases where collecting tax from the supplier might be difficult, such as in unregistered transactions or certain specified goods and services.

When Does Reverse Charge Mechanism Apply?

1. Supply of Specific Goods and Services

The government has specified certain goods and services that fall under RCM, regardless of whether the supplier is registered or not. Some examples include:

Goods: Cashew nuts (not shelled or peeled), bidi wrapper leaves, tobacco leaves, raw cotton, etc.

Services: Legal services by an advocate, services by a director to a company, security services, renting of motor vehicles, etc.

2. Purchase from an Unregistered Dealer

If a registered business purchases goods or services from an unregistered supplier, it must pay GST under RCM. However, this rule is applicable only when intra-state purchases exceed a certain threshold limit.

3. Import of Services

When a person or business in India imports services from a foreign service provider, they must pay GST under RCM. This ensures that foreign entities without a GST registration in India do not escape taxation.

How Does Reverse Charge Mechanism Work?

The process of paying tax under RCM involves several steps:

1. Determine Applicability

The recipient must check if the transaction falls under RCM based on government notifications or vendor type.

2. Tax Payment

The recipient must calculate and pay GST at the applicable rate directly to the government through the GST portal.

3. Input Tax Credit (ITC)

The tax paid under RCM can be claimed as Input Tax Credit (ITC), provided the goods or services are used for business purposes and are not restricted under ITC rules.

4. Invoicing and Record-Keeping

Since the supplier does not collect GST under RCM, the recipient must issue a self-invoice and maintain proper records for compliance and audits.

Compliance Requirements Under RCM

To comply with RCM regulations, businesses must follow these key requirements:

1. GST Registration

Businesses liable for RCM must register under GST even if their turnover is below the threshold exemption limit.

2. Self-Invoicing

For purchases from unregistered suppliers, the recipient must generate a self-invoice since the supplier does not issue a GST invoice.

3. Monthly GST Payments

Tax under RCM must be paid on a monthly basis through the GST portal before filing GST returns.

4. GST Returns Filing

RCM transactions must be reported in GSTR-1, GSTR-3B, and GSTR-9 (annual return) to ensure compliance.

Advantages & Disadvantages of Reverse Charge Mechanism

Advantages:

Ensures tax compliance for transactions involving unregistered suppliers.

Prevents tax evasion in certain industries and services.

Allows businesses to claim Input Tax Credit (ITC) on RCM payments.

Disadvantages:

Increases administrative burden due to additional documentation and self-invoicing.

Immediate cash outflow since GST must be paid before claiming ITC.

Complex compliance requirements, requiring businesses to stay updated with GST laws.

Conclusion

The Reverse Charge Mechanism (RCM) is an essential part of GST that helps regulate taxation in specific cases where collecting tax from the supplier is impractical. Businesses must stay aware of RCM applicability, compliance requirements, and filing obligations to avoid penalties and ensure smooth operations.

Understanding RCM and implementing proper accounting measures will help businesses remain compliant while making the most of Input Tax Credit (ITC) benefits.

[renukamd]

Annual Compliance for Private Limited Company in Coimbatore

Running a Private Limited Company in Coimbatore or anywhere in India requires fulfilling a set of legal obligations annually. Annual compliance ensures that the company adheres to the regulations set by the Ministry of Corporate Affairs (MCA) and other statutory bodies. Non-compliance can lead to penalties, fines, or even the disqualification of directors. This article outlines the key annual compliance requirements for a Private Limited Company in Coimbatore.

1. Mandatory Annual Filings with the Registrar of Companies (ROC)

Every Private Limited Company in Coimbatore must file the following forms with the ROC annually:

Annual Return (Form MGT-7):The company must file its annual return within 60 days of the Annual General Meeting (AGM). It contains details such as the company’s shareholding structure, directors, and key managerial personnel.

Financial Statements (Form AOC-4):The company must file its audited financial statements, including the Balance Sheet, Profit & Loss Account, and Director’s Report, within 30 days of the AGM.

Director’s Report:The Director’s Report must be prepared and attached to the financial statements. It includes details about the company’s performance, dividends, and corporate social responsibility (CSR) activities.

2. Conducting Annual General Meeting (AGM)

Every Private Limited Company must hold an AGM within six months from the end of the financial year (i.e., by September 30th for companies following the April-March financial year). During the AGM, the following matters are typically discussed:

Approval of financial statements.

Declaration of dividends.

Appointment or reappointment of auditors.

Any other business as per the company’s requirements.

3. Appointment of Auditors

The company must appoint an auditor within 30 days of incorporation. The auditor’s appointment must be ratified at every AGM. The auditor is responsible for auditing the company’s financial statements and ensuring compliance with accounting standards.

4. Income Tax Compliance

Filing Income Tax Returns (ITR):The company must file its income tax return by September 30th (if no audit is required) or October 31st (if an audit is required).

Tax Audit (if applicable):Companies with a turnover exceeding ₹ one crore (or ₹50 lakhs for professionals) must undergo a tax audit under Section 44AB of the Income Tax Act.

Advance Tax Payments:Companies are required to pay advance tax in four instalments (June, September, December, and March) if their tax liability exceeds ₹10,000 in a financial year.

5. Maintenance of Statutory Registers and Records

Private Limited Companies must maintain various statutory registers, including:

Register of Members

Register of Directors

Register of Charges

Register of Shares

Minutes of Board Meetings and AGMs

These registers must be updated regularly and kept at the company’s registered office in Coimbatore.

6. Compliance with Goods and Services Tax (GST)

If the company is registered under GST, it must file the following returns annually:

GSTR-9 (Annual Return):This return consolidates the details of all monthly/quarterly returns filed during the financial year.

GSTR-9C (Reconciliation Statement):Companies with a turnover exceeding ₹2 crores must file a reconciliation statement certified by a Chartered Accountant or Cost Accountant.

7. Compliance with Employee-Related Laws

If the company has employees, it must comply with the following:

Employees’ Provident Fund (EPF):Monthly contributions must be deposited with the EPFO.

Employees’ State Insurance (ESI):Applicable if the company has more than 10 employees.

Professional Tax:Deducted from employees’ salaries and deposited with the state government.

Payment of Gratuity:Applicable if the company has more than 10 employees.

8. Corporate Social Responsibility (CSR) Compliance

If the company meets the following criteria, it must comply with CSR provisions under the Companies Act, 2013:

Net worth of ₹500 crores or more, or

Turnover of ₹1,000 crores or more, or

Net profit of ₹5 crores or more.

The company must form a CSR committee and spend at least 2% of its average net profit on CSR activities.

9. Director’s KYC (DIR-3 KYC)

Every company director must file the DIR-3 KYC form with the MCA annually. This is mandatory for all directors, including those without a DIN (Director Identification Number).

10. Penalties for Non-Compliance

Failure to comply with the annual compliance requirements can result in:

Late filing fees.

Penalties range from ₹200 to ₹1,000 per day.

Disqualification of directors.

Striking off the company’s name from the ROC register.

Conclusion

Annual compliance is critical to running a Private Limited Company in Coimbatore. It ensures transparency, accountability, and good corporate governance. Companies are advised to engage professional services, such as Chartered Accountants or Company Secretaries, to ensure timely and accurate compliance.