GST 2.0 simplifies compliance, reduces tax costs, and ensures faster refunds, enabling MSMEs to scale operations, access incentives, and improve cash flow.
GST on marble, travertine, and granite blocks has been reduced to 5% effective 22nd September 2025, lowering input costs for suppliers, improving cash flow, and making construction materials more affordable.
The Income Tax Appellate Tribunal (ITAT) upheld the CIT(A)’s ruling, deleting unexplained money and commission additions made against Riddhesh Girishbhai Bhandari following a search.
GSTAT President mandates a staggered schedule for filing GST appeals to avoid portal overload. Timelines are based on the date the First Appellate or Revisional Authority order was issued.
India strictly enforces cash limits: Rs.20,000 for loans/deposits (S 269SS/271D) and Rs.2 lakh for total receipts per person (S 269ST/271DA). Breaking these rules incurs a penalty equal to the cash amount.
CBDT extended the Tax Audit due date to October 31, 2025 (AY 2025-26). Forms 3CA/3CB-3CD were updated with 71 changes, including mandatory reporting of MSME payment interest disallowance, legal contraventions, and ‘Amount Received’ (Clause 36B).
ITAT Chandigarh condones a 364-day delay citing post-Covid health issues and relying on SC precedents (Katiji, N. Balakrishnan). The Tribunal upholds the reassessment but deletes the Rs.20.45 lakh addition on a cash deposit, finding the source (brother’s loan for DDs) genuine. The Rs.10.72 lakh salary addition is remanded
ITAT Ahmedabad dismisses the Revenue’s appeals for AY 2017-18 and 2018-19, allowing the Rs.380 crore S 80IA deduction for operating infrastructure facilities, relying on prior cases and Madras HC precedents.
ITAT Ahmedabad set aside the ex parte dismissal of Kansara Popatlal Tibhovandas Metal Pvt Ltd’s appeal, ruling the CIT(A) violated natural justice by passing an order before the due date for submissions.
ITAT Ahmedabad quashed the PCIT’s Section 263 revision setting aside an assessment, holding AO’s enquiry into an Section 80GGC political donation was plausible and adequate.
