-
Supreme Court on Deduction of Sub-Contractor’s VAT Turnover from Main Contractor’s Turnover: Key Principles to Avoid Double Taxation
Introduction to the Supreme Court Ruling(i) Background and Legal Dispute(a) In the landmark case of Authority for Clarification and Advance Rulings, Gandhinagar, Karnataka & Anr. v. M/s Skyline Constr...
-
Supreme Court Affirms ITC Rights of Genuine Assessees Despite Seller’s Tax Non-Compliance
OverviewOn 9 October 2025, the Supreme Court of India delivered a pivotal ruling in The Commissioner, Trade & Tax, Delhi v. Shanti Kiran India (P) Ltd. (CA No. 2042-2047/2015), addressing whether inpu...
-
The Crucial November 30th Deadline under GST: What Every Business Needs to Know
Overview: The Significance of November 30th in GST ComplianceEvery year, the Goods and Services Tax (GST) framework in India sets a series of deadlines that carry significant legal and financial reper...
-
TDS Deduction for Senior Citizens Aged 75 Years and Above under Section 194P
Introduction to Section 194P: TDS Relief for Senior CitizensSection 194P of the Income-tax Act, 1961, provides significant relief to resident senior citizens aged 75 years or more by exempting them fr...
-
Protection of Genuine Purchasers from Section 74 GST Proceedings: Insights from Allahabad High Court (M/s Singhal Iron Traders Judgment)
Overview of the Case(i) Background and Legal Question(a) The core issue in the matter of M/s Singhal Iron Traders vs. Additional Commissioner and Another (WRIT TAX No. 1356 of 2022, decided on 26 Sept...
-
Can GST Registration Be Cancelled Due to Procedural Lapses? A Judicial Overview
1. OverviewThe question of whether procedural lapses alone can justify cancellation of GST registration has been a point of significant legal debate since the implementation of the Goods and Services...
-
GST Exemption on Transfer of Real Estate Business Units as Going Concern: Insights from Gujarat AAR
Background and Context(i) Overview of the CaseThe Gujarat Authority for Advance Ruling (AAR), in its decision dated October 09, 2025, in the matter involving RDB Realty & Infrastructure Limited (Advan...
-
Revised Procedures and Optional Disclosures in GSTR-9 and GSTR-9C for FY 2024-25
IntroductionThe deadline for submitting GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for FY 2024-25 is approaching, prompting assessees and tax consultants to reassess the updated req...
-
Comprehensive Guide to ITC Reporting in GSTR-9 for FY 2024-25
Overview of ITC Reporting in GSTR-9The reporting of Input Tax Credit (ITC) in the GSTR-9 annual return for the financial year 2024-25 involves precise categorization of claims, reversals, and reclaims...
-
Incorrect Reporting of Board Meetings in MGT-7: Penalty Imposed on Company and Directors under Section 134 of Companies Act, 2013
Overview of the Matter(i) Background of the CaseThis article delves into the regulatory action taken against Tech Matrix Solutions Private Limited, a company headquartered in Pune, Maharashtra. The Re...
-
Comprehensive Guide to Vehicle and Goods Detention under GST: Appeal, Detention Procedures, and Penalty Refund
1. OverviewThe detention of goods and vehicles under the Goods and Services Tax (GST) framework is a frequent source of disputes between assessees and tax authorities. While the Central Board of Indir...
-
Addressing Non-Payment Issues under GST: Remedies Beyond the Portal
Introduction to Non-Payment Scenarios under GST(i) Overview and Context(a) In India’s Goods and Services Tax (GST) environment, timely payments are essential for maintaining healthy cash flows and bus...
-
Restrictions on Late Withdrawals and Fresh Claims through Time-Barred Revised Returns: Supreme Court Guidance
Judicial Standpoint on Late Claims and Fresh Claims in Income Tax Returnsi) Supreme Court Precedents and Their Implications(a) The Supreme Court has firmly reiterated in Goetze (India) Ltd. v. CIT [20...
-
Infosys Share Buyback 2025: Tax Implications for Long-Term Shareholders
1. Overview of Infosys Share Buyback Announcementi. Background of the BuybackInfosys, on 12th September 2025, initiated its largest-ever buyback proposal to repurchase 10,000 shares, equating to rough...
-
Key Insights from the Telangana High Court Decision on GAAR
OverviewJohn Maynard Keynes’ famous observation that “the avoidance of taxes is the only intellectual pursuit that still carries any reward” succinctly expresses the persistent tension between legitim...
-
Presumptive Taxation Scheme in India: Overview, Eligibility, and Key Considerations
Introduction to Presumptive Taxation Schemes(i) Concept and Legislative BackgroundThe Income Tax Act, 1961, under various provisions such as sections 44AD, 44ADA, and 44AE, introduces presumptive taxa...
-
Frequently Asked Questions on Taxation of Income from House Property
1. Overview of House Property Income TaxationRental proceeds are taxed under the head "Income from House Property" exclusively in the hands of the legal owner or deemed owner of the property, as speci...
-
Understanding Salary Income: Key Issues and Clarifications
Overview of Salary Income under Indian Tax Laws(i) Definition and Scope of Salary IncomeSection 17 of the Income-tax Act, 1961, outlines what constitutes salary income. In essence, salary includes any...
-
GST on Online Gaming in India: The 28% Levy, Retrospective Taxation, and Constitutional Questions
1. Overview of the Online Gaming Sector and GST Implementation1.1 Rapid Digital Expansion and Taxation ChallengesIn recent years, India’s online gaming sector has surged in popularity, drawing in mill...
-
The New MSME-1 (V3) Regime: Essential Compliance Insights and Triggers
Introduction to MSME-1 ComplianceThe Ministry of Corporate Affairs (MCA) has mandated the filing of Form MSME-1, aiming to ensure timely payments to Micro and Small Enterprises (MSEs) and to hold comp...