In a major relief to taxpayers all over the country, the Supreme Court of India has held that the Input Tax Credit (ITC) of companies can be used to pay for the mandatory pre-deposit for filing GST appeals. This is a historical judgment and provides major relief to GST appeals by erasing a long hurdle … Read more
Madras High Court once again showed its eagerness to enforce fairness and rule of law in tax administration with a recent order reinstating cancelled GST registrations on conditions prescribed. The judgments are a welcome relief to trade and commerce confronted with procedural errors and bureaucratic mistakes resulting in cancellation of GST Registration—a prelude to conducting … Read more
GST Amnesty Scheme 2025, as per Section 128A of the CGST Act, is a relief mechanism where the taxpayers are provided an opportunity to clear outstanding dues by exempting historical tax dues from penalty and interest. The scheme is a great window of opportunity for individuals and entities to clear past due compliance deficiencies and … Read more
Important news for everyone as you will need to pay more taxes now. The new hotel restaurant faces an 18% GST rule that is now applicable if the room rent crosses ₹7,500 per day. Understanding the new Hotel Restaurant Face 18% GST Over ₹7.5K Tariff Rule As per the CBIC, if a hotel room tariff … Read more
In a recent landmark judgment, the Supreme Court of India has announced that businesses can now correct clerical or arithmetic GST Return Filing errors. The corrections can be made without facing any penalties. Thus, the decision is a major relief for taxpayers and businesses in India. Latest Ruling allows Correction of GST Filing Errors Without … Read more
Finance Bill 2025 proposed important amendments to Section 143(1) of the Income Tax Act, 1961, with a purpose to enhance income tax return (ITR) processing and transparency. The amendment authorizes the Income Tax Department to compare the new ITRs with the old ones, marking mismatch to the notice and enforcing compliance. What is Section 143(1) … Read more
Starting from April 1, 2025, there will be new GST Reforms that will bring significant shifts in businesses claiming Input Tax Credit. Let’s learn all about New GST Reforms starting from 1st April 2025. What’s Changing Under the New GST Reform? One of the most important things that is changing under the New GST Reform … Read more
Tax relief for Zomato has been granted by the authorities, as a ₹5.9 crore GST demand against the company has been cancelled by the Commissioner (Appeals) in Gurugram. The tax demand was for the period July 2017 to March 2021. Along with penalties, the total amount had reached ₹11.82 crore. Zomato had appealed against this … Read more
India’s fintech giant, Paytm, is facing regulatory trouble. The paytm’s parent company, One97 Communications Ltd, has been charged with a ₹1.19 crore penalty by the Central Goods and Services Tax (CGST) Department. Paytm’s CEO Fined by Indian Government Further in Paytm’s Controversy, Paytm’s CEO, Vijay Shekhar Sharma, has been personally fined ₹59.9 lakh. The penalty … Read more
India’s Finance Minister, Nirmala Sitharaman, presented the 2025-26 Union Budget on February 1. There have been several important reforms impacting all of us. Let’s read reforms introduced in Budget 2025 and their impact through this article. Impact of Latest Reforms Introduced under Budget 2025 More income for salaried persons and Less Taxes The government has introduced … Read more