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The Forum for Internet Retailers, Sellers & Traders (FIRST India), an association representing more than 300 online platforms focused on micro, small, and medium enterprises (MSMEs), has reached out to Finance Minister Nirmala Sitharaman for clarification on the Goods and Services Tax (GST) regulations. Their communication highlights concerns surrounding the ambiguity in classifying intra-state and […]
The Supreme Court of India has rejected a request from the Union of India regarding the refund of unused taxes related to a system where higher tax rates apply to goods that are typically bought rather than sold. The Court pointed out that this matter had already been resolved in a past decision. Furthermore, the […]
The CBDT has released a notification No. 133/2025/F. No. 370142/27/2025-TPL that brings important updates to the Income Tax Rules set in 1962. This update is part of the Income Tax (Twenty Second Amendment) Rules, 2025, and it aims to improve how income tax regulations work. A recent update has introduced two new rules, Rule 3C […]
The Gujarat High Court has ruled that a specific rule in the tax regulations, known as Rule 96(10) of the CGST Rules, 2017, will apply going forward, but can also be used in current cases that are still being processed. The Division Bench of Justices Bhargav D. Karia and D.N. Ray on the issue said […]
The MCA has announced the Companies (Registration Offices and Fees) Amendment Rules, 2025, introducing several modifications to the GNL-1 form. With effect from 14th July 2025, the new amendments, issued through G.S.R. 360(E), will come into force and must be certified by a whole-time tax professional such as a Chartered Accountant (CA), Company Secretary (CS), […]
Under the Goods and Services Tax (GST) regime, the Ministry of Finance has announced the Goods and Services Tax Appellate Tribunal (Procedure) Rules, 2025, to facilitate dispute resolution. The updated rules were published in Gazette Notification No. 256(E) on April 24, 2025. Under the authority of Section 111 of the Central Goods and Services Tax […]
The Ministry of Corporate Affairs (MCA) has issued a public notice and a call for public comments regarding a proposed amendment to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. This new amendment aims to expand the scope of fast-track mergers as outlined in Section 233 of the Companies Act, 2013, which allows certain companies […]
GST Invoice Changes Effective April 1: How Will They Affect Your Business? From April 1, 2025, businesses that secure an Annual Aggregate Turnover (AATO) exceeding Rs. 10 crore are required to submit an e-invoice to the Invoice Registration Portal (IRP) within 30 days of the date of issuance. Before that, this 30-day reporting limit applied […]
Starting April 1, 2025, new financial rules will introduce changes to GST, income tax, and banking. Below are the complete details. New Feature to Strengthen GST Security The Goods and Services Tax (GST) structure will undergo updated modifications, and the new security feature, Multi-Factor Authentication (MFA), will become mandatory for taxpayers accessing the GST portal. […]
