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On September 19, 2025, the Central Board of Direct Taxes (CBDT) released Circular No. 13/2025, offering assistance to taxpayers facing issues due to changes made in their income tax returns. This circular aims to help those who may be struggling with extra demands or complications resulting from these adjustments. U/s 115BAC(1A) of the Income-tax Act, […]
The Ministry of Corporate Affairs (MCA) has issued General Circular No. 03/2025, clarifying that companies can continue to conduct their Annual General Meetings (AGMs) and Extraordinary General Meetings (EGMs) through Video Conferencing (VC) or Other Audio-Visual Means (OAVM) until further notice. The Ministry has introduced relaxations since 2020, beginning with General Circular No. 20/2020 dated […]
In the existing business world, companies increasingly require managing much more data of their employees; moreover, salary details are extremely essential. The same data can impact how much trust employees have in their workplace and is crucial for complying with the tax norms, subject to Tax Deducted at Source (TDS). The manual management of all […]
The Karnataka High Court has clarified that not accurately reporting the correct value in tax returns or applying the appropriate Goods and Services Tax (GST) rate does not constitute suppression under Section 74 of the Central Goods and Services Tax (CGST). This ruling emphasises the distinction between honest errors and deliberate suppression in tax reporting. […]
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 […]
A streamlined tax system in India has been navigated via the introduction of the Goods and Services Tax (GST). For the businesses, one of the complex things in this system is the Reverse Charge Mechanism (RCM). With RCM, the buyer takes that obligation to pay the tax instead of the seller. Business finds it hard […]
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 […]
The Institute of Chartered Accountants of India (ICAI), emphasising taxpayers’ problems in fulfilling income-tax compliance timelines for the AY 2025-26, has written to the Central Board of Direct Taxes (CBDT). ICAI, in its representation, has requested equality in deadlines for the return filing and mentioned the dates under section 44AB, including the auto-renewal of registration […]
On 17th September 2025, the CBIC announced the CGST 3rd Amendment Rules, 2025, via Notification No. 13/2025. Effective from 22nd September 2025, these amendments introduce key changes in the reporting of Input Tax Credit (ITC) in the Annual Return Form GSTR-9. Key Changes in ITC Reporting Under GSTR-9 Implementation Timeline and Compliance Implications From 22nd […]
