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IntroductionThe Central Board of Indirect Taxes and Customs (CBIC) has introduced the revised formats for GSTR-9 and GSTR-9C for Financial Year 2024-25, as notified via Notification No. 13/2025–Centra...

Overview of Section 8 Companies and Audit ObligationsSection 8 companies, incorporated with the principal aim of advancing charitable or not-for-profit activities, are governed by a distinctive set of...

Introduction to Dematerialisation for Private CompaniesThe trend towards digitalisation in the Indian corporate sector has seen substantial regulatory changes, particularly in the management and trans...

Introduction: Joint Foreign Trading Accounts & Beneficial Ownership Principles(i) Overview of Joint Holdings in Foreign Trading AccountsMany Indian resident assessees now maintain joint foreign tradin...

1. Introduction i) OverviewIndian residents are increasingly opening joint foreign trading accounts, especially to invest in overseas markets like the US. Often, a spouse is added as a joint holder fo...

1. Overview1.1 Purpose of Section 67(2) Section 67(2) of the Companies Act, 2013 sets out a clear restriction for public companies (excluding IFSC companies), barring them from giving financial assist...

1. IntroductionThe Indian banking landscape has undergone a significant transformation in recent times, shifting its focus from mere financial returns to embracing broader responsibilities in sustaina...

1. IntroductionIn an important case, the Registrar of Companies (ROC), Coimbatore, imposed penalties on a company and its managing director for failing to correctly report loans extended to shareholde...

1. Introduction: Transforming Real Estate InvestmentIndia’s real estate sector has always been the cornerstone of wealth creation—anchored by its tangibility and cultural value. However, its illiquid...

IntroductionPreparing for an Initial Public Offering (IPO) in India involves numerous procedural and regulatory checks. However, two persistent issues often hinder the process for both companies and r...

IntroductionThe Bombay High Court, in the matter concerning West India Continental Oils Fats Pvt. Ltd. versus Union of India and others, decisively addressed the issue of levy and refund of IGST under...

1. Introduction to Charge RegistrationSections 77 to 87 of the Companies Act, 2013, together with the Companies (Registration of Charges) Rules, 2014, lay down the statutory requirements for the creat...

Introduction to Staggered Appeal Filing Before GSTATThe Goods and Services Tax Network (GSTN), which manages the common GST portal, has observed a substantial number of appeals submitted and resolved...

Introduction: Cross-Border Software Procurement and Tax ConsequencesIn the digital economy, Indian assessees—both businesses and individuals—frequently purchase software and digital tools from oversea...

Overview of Inverted Duty Structure under GSTIn the GST framework, tax is imposed at every stage of the supply chain, with input tax credit (ITC) generally allowed for taxes paid on inputs and input s...

Introduction: The Significance of Rule 37A in GST ComplianceRule 37A has emerged as a major challenge for businesses under the Indian GST regime. Despite complying with all standard requirements—such...

Introduction: Scope and PurposeThe present discussion focuses on the substantial revisions made to Table 8C and Table 13 of Form GSTR-9 for the financial year 2024–25, as mandated by Notification No....

Introduction to PANWhat is a Permanent Account Number?PAN, or Permanent Account Number, is a unique ten-character alphanumeric identifier issued by the Indian Income Tax Department. This number is ess...

Introduction to AIS and Its Legal FrameworkThe Annual Information Statement (AIS) represents a consolidated annual summary of an assessee’s financial and tax-related transactions for a particular fina...

Introduction to GST and Product ClassificationGoods and Services Tax (GST) was implemented in India from July 1, 2017. India adopted the World Customs Organization (WCO) guidelines for classifying goo...