-
Necessary Actions Before 31-03-2025: GST Amnesty Scheme Per Section 128A
Action Obligations for Amnesty Scheme Participation Under Section 128A of GST Act, 2017 Before 31-03-2025The Government of India has implemented vital changes through Notification No. 11/2025 dated Ma...
-
Approaching Deadline for GST Amnesty Scheme: Clarifications and Amendments Issued by CBIC
Overview of GST Amnesty Scheme and Recent CBIC UpdatesThe timeline for compliance with the Goods and Services Tax (GST) amnesty initiative, introduced under Section 128A of the Central Goods and Servi...
-
Analysis of Amendments in Finance Act 2025 Passed by Lok Sabha
1. IntroductionThe Finance Act 2025, enacted following the Lok Sabha's approval of the Finance Bill on March 25, 2025, introduces several significant amendments. While many proposals from the Finance...
-
Key Modifications to Form 3CD from April 2025
1. Enhanced Changes to Form 3CD: Introduction from Income-tax (Eighth Amendment) Rules, 2025The Income-tax (Eighth Amendment) Rules, 2025, introduce several updates to Form 3CD, reflecting adjustments...
-
SEBI Revises LODR Regulations, 2015: In-depth Overview of Major Amendments
1. IntroductionThe Securities and Exchange Board of India (SEBI) introduced foundational amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on March 27, 2025....
-
Critical GST Compliance for Financial Year-End: Essential Deadlines and Obligations
Overview of Year-End GST Considerations As the fiscal year concludes, entities need to ensure adherence to GST regulations across several areas. Businesses selecting the Composition Scheme must submit...
-
Clarified Guidance on GST Amnesty Scheme Benefits Pursuant to Section 128A
Introduction to GST Amnesty Program under Section 128AThe introduction of Section 128A to the Central Goods and Services Tax (CGST) Act, as endorsed by the GST Council in its 53rd gathering, aims to o...
-
Recent Updates in GST Pertaining to the Hospitality Sector
Overview of GST Amendments and Their Impact on Hotels and RestaurantsThe Goods and Services Tax (GST) reform has ushered in extensive modifications across diverse sectors in India, particularly affect...
-
Advance Tax in India: Key Dates and Implications for Non-Compliance
1. Obligation to Pay Advance Tax and Consequences of Non-ComplianceIn accordance with the Income Tax Act, 1961, there exists a mandate for the payment of taxes in advance. Advance tax applies to all i...
-
Income Tax Bill 2025: An In-Depth Analysis
OverviewIn a significant legislative development, the Indian government has proposed the Income Tax Bill 2025, set to supersede the Income Tax Act of 1961 starting April 1, 2026. This pivotal reform s...
-
Impact of Budget 2025 on the Real Estate Sector
1. OverviewDuring my audit of a real estate client, I reflected on the noteworthy amendments introduced by the Union Budget 2025. This year's budget brings vital changes to tax policies and initiative...
-
Revocation of GST Registration Cannot Negate Authentic ITC Claims: Calcutta High Court Ruling
Case OverviewThe Calcutta High Court, in the matter of Jyoti Tar Products Pvt. Ltd. vs. Deputy Commissioner, State Tax, Shibpur Charge WBGST & Others, determined that valid Input Tax Credit (ITC) clai...
-
Key GST Compliance Actions for March 2025
March 2025 marks a critical period for GST obligations, necessitating businesses to address 16 essential tasks. Among them are the reconciliation of outward supplies in Forms GSTR-1 and GSTR-3B, ensur...
-
Input Service Distributor (ISD) Implementation: Insights, Practical Procedures, Advantages & Disadvantages
The introduction of Input Service Distributor (ISD) regulations, which will be mandatory starting April 1, 2025, is set to present various financial and operational challenges. Ensuring compliance wit...
-
Article -Tax Implications of Minor’s Income Under the Income Tax Act
Tax Implications of Minor’s Income Under the Income Tax ActOverview of Taxation ProvisionsThe taxation of income earned by minors is addressed under Section 64(1A) of the Income Tax Act, 1961. This pr...
-
Implications of Budget 2025 on the Real Estate Industry
The Finance Bill 2025 has introduced several tax amendments specifically targeting the real estate industry. These adjustments are designed to streamline and simplify the existing tax regulations:Simp...
-
Delineating Differences Between Casual Taxable Persons and Non-Resident Taxable Persons
Introduction to GST Classification: Casual vs Non-Resident Taxable IndividualsThe framework of Goods and Services Tax (GST) in India sets clear distinctions between Casual Taxable Persons (CTP) and No...
-
Non-Imposition of GST on Transfer of Leasehold Rights in Land
Introduction In a recent decision involving the Gujarat Chamber of Commerce and Industry & Others v. Union of India & Others (2025) TaxCorp(GST) 48201 (HC-GUJARAT), the Gujarat Industrial Development...
-
Input Service Distributor (ISD) Rules Effective from April 1, 2025
1. Overview of ISD Registration RequirementsFrom April 1, 2025, it is compulsory for entities acting as Input Service Distributors (ISD) under GST to register. This registration is pertinent only for...
-
Corporate Responsibility in India: Main Directives
Corporate Responsibility refers to the voluntary efforts put forth by businesses to enhance social welfare and ecological health. It represents an approach where businesses incorporate social and comm...