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July 2025 Statutory Tax Calendar: Income Tax and GST Reporting Duties
This guide presents an extensively restructured overview of the key tax compliance requirements for July 2025, drawing from the Income Tax Act, 1961 as well as the Goods and Services Tax (GST) regime,...
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Eligibility of Indian Exporters for Non-Recourse Export Factoring via Authorised Dealer Banks
Background OverviewXYZ Private Limited, an Indian entity exporting engineering goods, has secured a confirmed export contract with a European buyer. To enhance liquidity and manage working capital, XY...
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Personal Hearings via Video Conferencing under GST: Comprehensive Guidelines
1. OverviewIn response to the need for remote proceedings, the Central Board of Indirect Taxes and Customs (CBIC) released instructions on August 21, 2020, outlining procedures for conducting personal...
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Change in Depreciation Method under AS Framework
Revised Depreciation Approach for Plant and Machinery under AS Framework1. Overview: Revised Depreciation Approach for Plant and Machinery under AS FrameworkZentro Private Limited, a manufacturing ent...
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Adjusting Cost of Acquisition Using Indexation for Capital Gains Calculation
1. IntroductionThe concept of indexed cost enables assessees to claim a higher deduction for the cost of acquiring an asset, effectively offsetting the impact of inflation on capital gains. This mecha...
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Understanding Cost of Improvement in Capital Gains Computation
1. Overview of Cost of ImprovementWhen an assessee sells a capital asset, any profits or gains from the sale are taxable under the head ‘Capital Gains’. The calculation of capital gains is done by ded...
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Permissibility of Lending, Debt Investment, and Non-Fund Based Commitments by Indian Entities to Overseas Entities and Step-Down Subsidiaries
IntroductionIndian enterprises frequently seek to support their overseas subsidiaries or foreign affiliates through various financial arrangements, including loans, investments in debt securities, and...
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Clarification by CBIC on Review, Revision, and Appeal for Orders Passed by Common Adjudicating Authorities on DGGI Show Cause Notices
Overview of the Recent CBIC CircularThe Central Board of Indirect Taxes and Customs (CBIC), through Circular No. 250/07/2025-GST dated 24th June 2025, has provided essential clarifications regarding t...
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Compliance Framework for Income Tax and GST Obligations in July 2025
1. Introduction to Tax Compliance RequirementsTax compliance represents a fundamental obligation for all assessees operating within the Indian taxation framework. The adherence to prescribed timelines...
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Promoter and Public Shareholder Reclassification under SEBI LODR: Legal Framework, Practical Considerations, and Governance Best Practices for 2025 and Beyond
1. Overview: The Strategic Importance of Reclassification under SEBI LODR(i) Context and RationaleTransitioning promoters to public shareholder status, or vice versa, is a key maneuver for listed comp...
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CBDT Issues Notification No. 67/2025: Transforming Taxation for IFSC Units and Advancing India’s Financial Ambitions
Introduction: Shifting the Landscape for IFSC OperationsIndia’s aspiration to position itself as an international financial powerhouse has taken a significant leap with the issuance of Notification No...
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Determining the Value of Supplies Between Distinct or Related Persons Under GST Rule 28 (Excluding Agents)
IntroductionGST Rule 28 prescribes the framework for valuing supplies of goods or services exchanged between distinct persons (such as different branches of a company registered in separate states) or...
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Recent Disclosures and Key Modifications in ITR Forms for Assessment Year 2025-26
Overview: The process of filing Income Tax Returns (ITR) for Financial Year 2024-25 has been updated with more detailed requirements. The new ITR forms have been restructured to request sharper clarit...
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GST Refunds for Inverted Duty Structure: A Comprehensive Guide
1. OverviewThe concept of Inverted Duty Structure under the Goods and Services Tax (GST) framework in India often leads to confusion among assessees. This scenario arises when the GST rate on inputs (...
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Distinction Between Shareholders and Directors under the Companies Act, 2013
Understanding Shareholders(i) Meaning and Legal StandingAs per the Companies Act, 2013, a shareholder—also referred to as a member—is any person, corporate entity, or institution that possesses at lea...
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A Comprehensive Review of India's Insider Trading Regulatory Framework: An Insider’s Analysis
1. Background and Evolution of Insider Trading Laws in India1.1 OverviewInsider trading refers to the act of trading securities of a company based on confidential, non-public information, typically wi...
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Relocating a Company’s Registered Office from One State to Another: Comprehensive Legal Process and Compliance Guide
Introduction: Strategic Shifting of Registered OfficeRelocating a company’s registered office from one state to another is a significant corporate move, impacting legal, operational, and regulatory en...
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Ensuring Robust GST Compliance: Insights from Recent Government Notices
Introduction: The Significance of GST NoticesGST notices play a pivotal role in the Indian tax compliance landscape. As evidenced by recent demand notices sent to industry giants such as LIC, Tata Ste...
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Re-examining Multi-Year Clubbing of GST Show Cause Notices: Legal Perspective and Checklist
Introduction: Role and Issuance of Show Cause Notices in GSTShow Cause Notices (SCNs) serve as critical instruments in the GST framework, initiating proceedings when tax has been unpaid, short paid, e...
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Regional Director Upholds ROC Penalty on Statutory Auditor for Section 143 Non-Compliance: Analysis and Key Takeaways
Case OverviewThe Regional Director (Eastern Region), Ministry of Corporate Affairs, Kolkata, recently adjudicated an appeal brought by the statutory auditor of M/s. Maheep Marketing Pvt. Ltd., CA Rahu...