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The Central Board of Direct Taxes (CBDT) has issued Notification No. 21/2025 dated March 25, 2025, amending the Income-tax Rules, 1962. The Income-tax (Sixth Amendment) Rules, 2025, introduce modifications impacting transfer pricing, electric vehicles, and assessment years. Latest Update The IT Notification 124/2024 regarding the application for the Safe Harbour option under Section 9(1)(i), Profits […]
Discovering that the GST refund claim was filed within 2 years from the “relevant date” as specified in Explanation 2(a) to Section 54(14) of the CGST Act, the Madras High Court clarified that a refund claim cannot be refused based on the retrospective operation of the Proviso to Rule 90(3) of the CGST Rules. The […]
The Andhra Pradesh High Court stated that a tax notice under Rule 142(1)(A) of the CGST Rules must be issued before a proper GST show cause notice. The Division Bench of Justices R. Raghunandan Rao and K Manmadha Rao was addressing a case where a notice under Rule-142(1)(A) of the CGST Rules was not issued […]
The Gauhati High Court has kept the constitutional validity of CGST Rule 36(4). The provision specifies documentary needs and conditions for a registered person claiming input tax credit (ITC). It was noted by the division bench of Chief Justice Vijay Bishnoi and Justice N. Unni Krishnan Nair that the provision was legislated based on the […]
The criteria for tax residency remained unchanged in the upcoming income tax bill. Ahead of the Bill being tabled, it was recommended by the reports to NRIs that those making Rs 15 lakh or exceeding that in India while not filing the taxes elsewhere shall be categorized as residents rather than residents but Not Ordinarily […]
Under the Goods and Services Tax (GST) regime in India, the e-way bill is a significant compliance possess. It ensures the facilitated movement of goods and averts tax evasion. The blog provides a detailed overview of GST intra-state e-way bill prerequisites for tax professionals, including threshold limits, exemptions, notifications, and other relevant details. GST E-Way […]
Through GST Notification No. 07/2025 – Central Tax, dated January 23, 2025, The Ministry of Finance, has announced the changes to the Central Goods and Services Tax (CGST) Rules, 2017. The introduction of Rule 16A is among the prominent updates that ease the issuance of a Temporary Identification Number (TIN) to persons who do not […]
The latest 55th GST Council meeting was held on December 21, 2024, in Jaisalmer, Rajasthan, and was chaired by the Union Finance Minister. An amendment is been proposed by the council in the field classification of registered persons for the taxpayers who choose for composition levy through FORM CMP-02 The latest meeting of the GST […]
Maharashtra Authority for Advance Ruling (AAR) said that 0% or Nil Goods and Services Tax (GST) is applicable for the work allotted by the Maharashtra Jeevan Pradhikaran (MJP) as part of the Jal Jeevan Mission, a Government of India operation. M/s Fortress Infracon Limited and Yash Innovative Solutions LLP (JV), have filed an application which […]
