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Evaluating Rule 86B of the CGST Rules 2017: Limitations on Utilization of ITC
Rule 86B, added to the Central Goods and Services Tax (CGST) Rules, 2017 through Notification No. 94/2020, became operative on January 1, 2021. This rule serves to combat fraudulent activities within...
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Concessional Taxation for New Manufacturing Entities in India: Determining When It Begins
Understanding the Provisions for Lower Tax Rates for New Manufacturing EntitiesOverview of Legislative AmendmentsThe Taxation Laws (Amendment) Ordinance, 2019 (TLAO), enacted on September 20, 2019, ma...
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Key Insights into Amendments on GST Provisions: Sections 16 and 128A
Overview: The recent modifications in the GST Act affecting Sections 16 and 128A bring substantial changes in the context of Input Tax Credit (ITC) claims and related tax relief measures. The Supreme...
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Understanding ITAT: Framework, Policies, and Contemporary Changes in the New Landscape
Role and Importance of ITATSince its inception roughly 80 years ago, the ITAT has played a pivotal role in resolving income tax disputes. Although not a court in the traditional sense, it holds the au...
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Classification of Geo Membrane under Indian Tariff: Gujarat High Court Ruling
Overview: Gujarat High Court recently addressed the classification of Geo Membrane products in the case of M/s Ananta Synthetic Innovations v. State of Gujarat [Special Civil Application No. 504 of 20...
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GST Appeals: Filing Process, Timelines, and Common Grounds for Success
1. Understanding GST AppealsNobody enjoys disputes, particularly when they're linked to adverse GST orders by tax authorities. Fortunately, the law provides the right to contest such decisions. Essent...
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Clarifying Tax Classification Errors: Provisions under Section 77 of the CGST Act, Section 19 of the IGST Act, and Circular No. 162/18/2021
The introduction of the Goods and Services Tax (GST) aimed to simplify the indirect tax structure in India. Despite this, the system poses challenges, especially when determining whether a supply is i...
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Notification 8/2025-Central Tax: Examination of Late Fee Waiver
Overview Notification No. 8/2025-Central Tax, which was released on January 23, 2025, by the CBIC under Section 128 of the CGST Act, 2017, offers a conditional exemption from late fees for the late su...
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GST Reprieve Initiative 2024: Guidelines for Filling SPL-02 Form
Understanding the GST Reprieve Initiative 2024: Relief from Interest and Penalties via Forms GST SPL-01 and GST SPL-02Overview: The GST Reprieve Initiative 2024 facilitates the waiver of interest and...
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In-Depth Guide on Late Fee Waiver for GSTR-9 and GSTR-9C Filings
Notification on Late Fee WaiverOn January 23, 2025, Notification No. 08/2025 – CENTRAL TAX was released by the Central Board of Indirect Taxes and Customs (CBIC). This notification captures the decisi...
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Analysis of Notification No. 5/2025: Changes to "Specified Premises" Definition in India’s Tax Laws
Key Modifications in Notification No. 05/2025Notification Changes and Effective DateOn January 16, 2025, the Central Government released Notification No. 05/2025 - Central Tax (Rate), which will take...
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Guide to Filing GST Amnesty Scheme 2024 Applications
1. Overview of the GST Amnesty Scheme 2024The GST Amnesty Scheme for the year 2024, referenced under Section 128A, offers relief from interest and penalties relating to the timeframe between July 1, 2...
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Reassessing Gift Taxation in India: Urgency for Reforms in Trust and Inheritance Norms
Introduction The Indian tax framework does not possess a dedicated statute addressing gifts and inheritances. Instead, the tax treatment of gifts is encapsulated within the anti-abuse sections of the...
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GST Amnesty Scheme – Section 128A: A Detailed Overview
Introduction of Section 128AThe GST Council, during its 53rd meeting, recommended the inclusion of Section 128A in the CGST Act. This section aims to provide relief from interest and penalties for reg...
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Rectification of ITC Claims Through Section 16(5) of GST: A Review of Notification No. 22/2024-CT and GSTN Advisory
IntroductionThe introduction of Section 16(5) under the Central Goods and Services Tax Act, 2017 (CGST Act) alongside Notification No. 22/2024-CT issued on October 8, 2024, provides a solution for the...
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Optimizing Tax Advantages on Home Loan Interest: A Strategic Approach
Overview: While home loan interest can seem like a burden, strategic planning can transform it into a powerful tax-saving tool. Under Section 24(b), assessees with self-occupied properties can avail o...
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Overview of Judicial Decisions on Section 54 of the Income Tax Act
A recent examination of Section 54 has revealed recent legal amendments and decisions aimed at fulfilling legislative objectives. These decisions often lead to liberal interpretations based on specifi...
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Understanding General Anti-Avoidance Rule (GAAR) in India
1. Introduction to General Anti-Avoidance Rule (GAAR):GAAR constitutes a key component of India's approach to curbing aggressive tax planning practices. It promotes a shift from evaluating the mere fo...
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Requirement for Bilingual Documentation by Central GST Department
Background Judgment: The Andhra Pradesh High Court adjudicated in the case of M/S Subodh Enterprises v. Union of India & Ors and Andhra Pradesh Township and Infrastructure Development Corporation Limi...
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Startups Tax Planning - Opt for a Private Limited Company Registration
Startups Tax Planning - Opt for a Private Limited Company RegistrationEmbarking on a new business venture involves several impactful decisions, and selecting the appropriate business structure is amon...