Mumbai CAAR rules that GE’s ultrasonic gas flow meters are measuring instruments (CTH 9026), not control apparatus (CTH 9032), based on their function at import.
In this blog post, I’ll break down what these schedules are, provide real-world examples, and explain how to report them on the Income Tax e-Filing portal. Plus, I’ll touch on the kind of notices you might receive if you miss the mark.
A common question businesses face is why an IGST balance cannot be used to offset liabilities for intra-state (within-state) sales when the Central Goods and Services Tax (CGST) credit is fully utilized. Let’s break it down with real-world examples to make it crystal clear!
For AY 2025-2026, the CBDT has introduced amendments to Form 3CD, with some impacting Form 3CB indirectly, effective from April 1, 2025. These changes reflect new tax provisions, remove outdated clauses, and introduce enhanced disclosure requirements. Let’s break down the key updates with practical examples.
Understand corporate guarantee valuation under IND AS 109 and IAS 109, including methodologies like Credit Spread and Contingent Claims, and GST implications.
Income Tax Bill 2025 proposes changes to Section 271B penalty, aiming for proportionality and reduced litigation in tax audit defaults under Section 44AB.
