The Delhi High Court set aside the entire reassessment process against Siam Stock Holdings Ltd. after finding that all official notices were sent to a former employee’s email address, violating principles of natural justice and rendering the proceedings invalid.
The removal of GST cess on motor vehicles has created confusion for automobile dealers, leaving them with stranded credit and potential financial losses.
Despite India’s tech ambitions, the Income Tax Department’s portal struggles with stability, hindering tax compliance and frustrating citizens.
Understand the tax rules for cash gifts from grandparents in India. Learn why proper documentation is crucial to avoid scrutiny from the Income Tax Department.
The GST Council approves provisional refunds of 90% of accumulated Input Tax Credit for businesses with an inverted duty structure, effective November 1, 2025.
The Income Tax Appellate Tribunal (ITAT) Ahmedabad dismissed the Revenue’s appeal, confirming the deletion of additions made under Section 68 of the Income Tax Act.
Benefit of CBIC Notification dated 2 November 2023 extending limitation for filing appeals up to 31 January 2024 could not be denied merely because adjudication order was passed after 31 March 2023; appeals restored subject to compliance with pre-deposit conditions.
India has simplified GST into three slabs and introduced GST 2.0 reforms, effective September 22, 2025, with a 5% rate for essentials and a 40% rate on sin goods.
Summary: Effective September 22, 2025, India has implemented GST 2.0 reforms, simplifying its tax structure and impacting various aspects of the economy. The new system reduces rates on approximately 90% of daily essentials, moving them from 12% or 18% to a lower 5%, which is expected to save the average household between Rs.1,200 and Rs.1,800 […]
Learn about Softex forms, mandatory for Indian IT exporters to report software exports to the RBI and comply with FEMA regulations.
