ICAI Has Rewritten the Balance Sheet for Every Proprietor, Partnership Firm and HUF: The Non-Corporate Format, the Comparatives Trap and What Your Auditor Must Report From This September
I'm a Chartered Accountant, and I write here on the GST and income-tax beats. Most of what I cover is what actually comes up across a filing cycle: registration thresholds and the GSTR-1 / 2B / 3B reconciliation chain, input tax credit conditions and reversals under Section 16 and Rule 42/43, e-invoicing turnover limits, TDS and advance-tax mechanics, and the filing decisions that follow from the Income-tax Act 2025 transition. I also write about the financial-modelling side of the job, which rarely gets documented properly — bank project reports and CMA data, provisional and projected financial statements, the ratio covenants lenders actually test, and what makes a projection defensible when a credit officer starts questioning the assumptions. I work from the bare Act, CBIC and CBDT circulars and RBI norms rather than secondary commentary, and I put the numbers in wherever a rule turns on a calculation.