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The Bombay High Court recently determined that under Rule 86A of the Central Goods and Services Tax (CGST) Rules, 2017, Input Tax Credit (ITC) cannot be restricted if the taxpayer’s electronic credit ledger shows a nil balance on the date the blocking order is issued. This ruling emphasises the conditions under which ITC can be […]
A Mumbai-based taxpayer was in trouble when it was discovered that the TDS credit of Rs 96 lakh (96,12,846) was missing from his Form 26AS. He gets a tax notice demanding Rs 1 crore, which includes interest under Sections 234B and 234C, even after reporting the related income in his ITR and filing the required […]
For most of the day, the Goods and Services Tax Network (GSTN) portal has been down. It became an issue as thousands of businesses in India use it to file their monthly tax papers, particularly GSTR-1 forms. Tax professionals have observed that the Goods and Services Tax (GST) portal, which is managed by Infosys, has […]
The GST council, in its forthcoming 57th GST meeting, may focus on additional revisions to facilitate the procedure and policies. In the next meeting of the GST council, the process of registration, refund, and audit can be facilitated, a Finance Ministry official stated. The latest provisions for direct taxes in the Finance Bill are directed […]
The Insurance Brokers Association of India (IBAI) has called upon the Ministry of Finance to implement further initiatives, beyond the recent revisions to the Goods and Services Tax (GST), aimed at increasing the penetration rates of health and life insurance across the nation. GST rate cut can exempt individual health insurance premiums to a specific […]
In the world of digital compliance solutions, a crucial step has been taken by SAG Infotech, a prominent name in taxation and corporate compliance software. The company to its flagship product Gen Complaw has made a latest update. The updated rollout comprises three all-new Add-on Plans for ROC software and a cutting-edge AI-powered feature for […]
The Kerala High Court has made a ruling regarding tax returns. It stated that if someone has voluntarily submitted their tax returns, they cannot go back and change them by adding new evidence later on. This decision is based on a specific rule 29 of the ITAT rules that allows the tax appeal tribunal to […]
A reminder has been sent by the Ministry of Corporate Affairs (MCA) to all the stakeholders for the forthcoming due date for filing the two essential regulatory forms. October 30, 2025, is the deadline for filing Form LLP-8 and Form NDH-3. Limited Liability Partnerships (LLPs) need to file Form LLP-8 annually. It is the statement […]
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 […]
