Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The updated move of the government for fast-track GST refunds has been welcomed by the healthcare and medical device industry of India. However, it asked that the next big step is to extend refund eligibility to input services as well as capital goods required to get full tax neutrality and facilitate liquidity challenges encountered by […]
The GST refund processing has been increased by the Delhi government. Till now, it has disbursed a record of Rs 694 crore, Chief Minister Rekha Gupta declared, citing it as an initiative of her administration for ease of doing business. Officials, between April and September of FY 2025-26, the Department of Trade and Taxes has […]
The Central Board of Indirect Taxes and Customs (CBIC) has outlined comprehensive guidelines for the provisional approval of GST refund requests through Instruction No. 06/2025-GST, issued on October 3, 2025. This process is guided by a system-driven identification mechanism and a rigorous risk assessment framework. The same complies with the decision of the 56th GST […]
For businesses and professionals, timely tax compliance is a significant obligation. In between such obligations, the advance tax specifies a unique intricacy as it necessitates accurate income estimation and periodic instalment payments during the financial year. Taxpayers earlier have relied on manual calculations, Excel spreadsheets, or professional advisory services, which take much time and may […]
The Rajasthan High Court has annulled Point No. 2 of Circular No. 181/13/2022-GST, issued on November 10, 2022. This specific point restricted the claims for Input Tax Credit (ITC) related to the inverted duty structure for transactions made before July 18, 2022. A bench comprising Justices Dinesh Mehta and Sangeeta Sharma observed that the clarification […]
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has issued a directive for the refund of ₹37.88 lakh within one month. This decision arises from a determination that there was an under-allocation of Tax Deducted at Source (TDS) credit related to a property sale, in accordance with section 143(1) of the Income Tax […]
Net direct tax collections in the current financial year 2025-26 have experienced a noteworthy increase of 9.2%, reaching a total of ₹10.82 lakh crore. This growth can be attributed to a rise in both corporate and personal income tax revenue, as indicated by official data. In the corresponding period of 2024-25, there was a net […]
For both individuals and enterprises, filing Income tax returns is a yearly obligation. Even after having the digitalisation of the process, taxpayers are facing issues that can delay the submissions or cause intricacy. This trend will remain the same due to technical malfunctions on government portals and manual data entry errors. ITR Filing Issues On […]
The Income Tax Department has announced an advisory that you can correct any mistakes related to TDS and TCS statements for tax periods from the fourth quarter of the financial year 2018-19 up to the third quarter of 2023-24. You have until March 31, 2026, to submit these corrections. If your bank, employer, property buyer, […]
