Learn how new ITR business codes impact tax filing. Key additions include codes for influencers and traders. AI to boost compliance and detect mismatches.
Understanding GST implications for corporate guarantees, including valuation rules, historical context, and recent clarifications from CBIC on taxability based on issuance dates.
This article examines the provisions of Section 54(10), the issues arising from its application, particularly regarding minor discrepancies in returns and unconfirmed demands, and proposes a reasonable interpretation in light of the GST framework, judicial precedents, and principles of natural justice.
Explore the structural and procedural challenges within India’s GST framework, from ITC denials to disproportionate penalties. Discover critical reforms needed for a fairer, business-friendly tax system.
Learn about recent changes in long-term capital gains tax for individuals and HUFs selling land or buildings. The new rules, effective July 23, 2024, impact indexation benefits and tax computation.
KSCAA represents to the Finance Minister on the misapplication of GST Section 74 notices for small demands, urging restriction to cases of demonstrable fraud.
KSCAA represents to MCA on filing challenges, including CHG-9, PAS-4, and name approvals, proposing systemic reforms for smoother corporate compliance.
KSCAA represents to CBIC on Invoice Management System issues, addressing GSTR-3B credit note limitations, bulk action utility, and compliance burden.
GSTN’s July 2025 advisories cover GSTR-1 HSN reporting, appeals against waiver orders, upcoming security enhancements for ASPs, non-editable GSTR-3B inter-state supplies, and GSTR-3A notices for cancelled composition taxpayers.
KSCAA represents to the Finance Minister on GST Rule 37A, seeking to enable ITC reclaim when tax is paid via DRC-03 or recovered, addressing current limitations.
