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Taking Full Advantage of the Brand New GSTAT: A Comprehensive Guide for GST Appeals
1. Introduction to GSTAT OperationalizationThe 56th GST Council meeting brought several significant initiatives, but the most welcome development is the operationalization of the GST Appellate Tribuna...
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GST Input Tax Credit Framework: New Provisions Under Section 38 and Section 16(2)(ba) of CGST Act, 2017
1. Introduction to the AmendmentThe Central Goods and Services Tax Act, 2017 has undergone significant modifications through Section 122 of the Finance Act, 2025, which specifically amends Section 38...
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Revised Timeline for Submitting Appeals to GSTAT under Section 112: Staggered Filing Schedule
Overview of Staggered Appeal Filing under Section 112 of CGST Act, 2017The President of the Goods and Services Tax Appellate Tribunal (GSTAT) has instituted a compulsory staggered system for lodging a...
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Operation and Role of the GST Appellate Tribunal
Introduction to GST Appellate Tribunali) Role and Jurisdiction of GSTAT(a) The Goods and Services Tax Appellate Tribunal (GSTAT) represents the second appellate authority under the GST regime, authori...
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GST Regime on SUV Cars in India 2025: Updated Tax Rates, Categories, and Compliance
Overview The Goods and Services Tax (GST) landscape for Sport Utility Vehicles (SUVs) in India has seen significant changes following the 56th GST Council Meeting held in September 2025. These modific...
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Demystifying the 10% Margin Impact for Wholesalers Post-GST Rate Change
Background: GST Rate Modification and the Wholesaler’s DilemmaWhen GST rates are revised, as in the case where a product such as cement drops from 28% to 18% effective 22-September-2025, it raises con...
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GST Compliance Steps for Retailers Following GST Rate Amendments from 22-09-2025
IntroductionThe revision of GST rates effective September 22, 2025, requires retailers and shopkeepers to address several compliance aspects. The GST levy is determined based on the date of supply, so...
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Refund of Accumulated Input Tax Credit (ITC) under Inverted Duty Structure and Its Relationship with Anti-Profiteering Provisions
Introduction to Recent GST Rate Rationalization and Its Impact on ITCi) GST Council’s Rate Revisions and Potential ITC AccumulationIn its 56th session, the GST Council resolved to streamline the tax s...
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Recent Developments in Income Tax Audit: Revised Deadlines, Additional Clauses, and Audit Limits for Assessment Year 2025-26
1. Introduction to Recent Tax Audit ModificationsThe Central Board of Direct Taxes (CBDT) has introduced several significant updates to the Income Tax Audit procedure for Assessment Year 2025-26 (Fina...
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Comprehensive Guide to Tax Audit Criteria for Assessment Year 2025-26
Overview of Tax Audit Requirements Under Section 44ABi) Applicability Based on Turnover and Digital Transactions(a) Section 44AB of the Income Tax Act governs the circumstances in which assessees must...
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Supreme Court Mandates Swift Resolution of Tax Refund Appeal for Educational Society
Overview of the Supreme Court's DirectiveThe Supreme Court of India, in the case involving Dalhousie Public School Educational Society versus Union of India & Others, has intervened to ensure the acce...
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Resolving GST Return Discrepancies: Practical Reconciliation between GSTR-1, GSTR-3B, GSTR-9, and GSTR-9C
1. Overview of GST Return Reconciliation Requirements1.1 Multiple GST Return Filings and Their ObjectivesThe Goods and Services Tax (GST) framework in India necessitates filing various returns to ensu...
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GST Council’s Rate Rationalization and Its Effects on Inverted Duty Structure (IDS) Refunds: Detailed Analysis
Introduction: GST Council’s Recent Steps to Tackle IDS Refund IssuesThe 56th GST Council meeting ushered in significant changes aimed at alleviating the challenges posed by the Inverted Duty Structure...
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Transforming Healthcare in India: The Impact of Recent GST Reforms
Introduction: GST Overhaul in Healthcare and InsuranceThe Indian healthcare and insurance landscape is undergoing a significant transformation following the decisions made at the 56th GST Council meet...
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Transition to GST 2.0: Comprehensive Guidance for Wholesalers and Retailers from 22.09.2025
Overview of GST 2.0 Rate RationalizationThe introduction of GST 2.0, effective from September 22, 2025, marks a significant overhaul of the Indian GST framework. The previous four-tier system of 5%, 1...
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Karnataka High Court Notes Optional Approach for Re-Stickering MRPs After GST Reduction
1. IntroductionThe Karnataka High Court has acknowledged the Union Government’s updated stance regarding the labeling of revised Maximum Retail Prices (MRPs) on unsold stock following a reduction in G...
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Compliance Framework for Charitable Organizations: Audit Requirements and Registration Procedures
1. Critical Compliance Deadlines and Registration Requirements(i) Mandatory Filing DeadlinesA crucial compliance date approaches for charitable organizations: September 30, 2025 marks the final deadli...
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Comprehensive Guide to ICAI's Framework for Limited Liability Partnership Financial Reporting
1. Understanding Limited Liability Partnerships and Their Financial Reporting Framework(i) Fundamental Concepts of Limited Liability Partnership StructureLimited Liability Partnerships represent a dis...
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Major Amendments in Form 3CD for AY 2025-26: Key Updates in Income Tax Audit Rules
Overview of Recent Amendments in Form 3CDThe Central Board of Direct Taxes (CBDT) has introduced significant revisions to Form 3CD for the Assessment Year 2025-26. These updates center around five mai...
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Refund of Unutilized Input Tax Credit upon Business Closure under GST: Analysis of SICPA India Private Limited vs. GST Authorities
Background and Key Eventsi. Parties Involved and Business CircumstancesSICPA India Private Limited, a company specializing in security inks and related solutions, was registered for GST in the state o...