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Many businesses at the end of the fiscal year make bulk purchases in March to optimise their GST outflow, though experts caution that the same method can backfire. The input tax credit under the Goods and Services Tax regime is decided from the receipt date of goods or services rather than the payment or invoice […]
The Madras High Court has instructed the government tax department to send out a circular encouraging taxpayers to hire only qualified professionals for handling their Goods and Services Tax (GST) matters. Justice Krishnan Ramasamy mentioned that, “This Court comes across similar instances in several cases, extending ill advice to the clients by the consultants, who […]
The Delhi High Court has pointed out that there is a delay between when the GST Department issues a demand order and when the Form DRC-07 is made available online. A division bench of Justices Prathiba M. Singh and Shail Jain did not infer such a gap as rendering the demand order time-barred, towards the […]
The Bombay High Court has ruled that notifications related to the Reverse Charge Mechanism (RCM) that deny Input Tax Credit (ITC) to service providers are legally acceptable. The court stated that these decisions do not violate the rights guaranteed by articles 14 and 19(1)(g) of the Constitution, which are designed to ensure equality and the […]
The Group of Ministers (GoM) met on the GST rate rationalisation has ended with the state finance minister accepting the plan of the centre to lessen the multiple tax slabs. The proposal, placed before, aims to replace the current four rates of 5, 12, 18, and 28 per cent with just two main slabs. Before […]
The recent report from the Comptroller and Auditor General (CAG) about Karnataka’s finances reveals some important issues. It showed that there were problems with how taxes were managed and enforced in various government departments. These issues led to a significant loss of revenue, totalling ₹1,260.41 crore. The findings of the report were shared in the […]
The indian auto sector is ready for the game-changing policy move. According to reports, the government will rationalise Goods and Services Tax (GST) rates on automobiles. The auto sector will surge from this GST rate reduction; passenger vehicle majors Maruti Suzuki, Mahindra & Mahindra (M&M), Ashok Leyland, and TVS Motor are among the biggest beneficiaries. […]
The deadline for submitting Form GSTR-3B for July 2025 has been pushed back by the Central Board of Indirect Taxes and Customs (CBIC). This announcement was made in a notification issued on August 20, 2025, right when the original deadline was approaching. According to the central tax notification No. 12/2025, the amended due date to […]
Prime Minister Narendra Modi has chaired a high-level meeting with senior ministers, secretaries, and economists to discuss the roadmap for ‘next-generation reforms’ and a modification of GST laws. The Prime Minister shared a post on X, saying, “Chaired a meeting to discuss the roadmap for Next-Generation Reforms.” “We are committed to speedy reforms across all […]
