GST rate reductions or exemptions require careful ITC management. Learn rules for utilizing existing credit, mandatory reversal for nil-rated goods, and applying the correct rate using time of supply.
ITAT Delhi ruled that salary paid to expatriates on local contracts is deductible and that CSR expenditure disallowed under Section 37(1) remains eligible for deduction under Section 80G.
India rolls out GST 2.0 on 22 Sept 2025, moving to two main slabs (5% & 18%). The reform zero-rates essentials, lowers costs for many sectors, and simplifies compliance.
SMEs are increasingly using the IPO route to raise capital, avoiding the loss of control and high dilution of private equity. This shift improves valuation, liquidity, and transparency.
ASMT-10 issuance under GST Section 61 is mandatory before SCNs (73/74) for return discrepancies. It offers taxpayers a chance to rectify and halt further proceedings.
Analysis of essential direct tax law features: clarity, competitive rates, and the use of GAAR. Covers corporate tax choices, AIS/TIS compliance, and certainty mechanisms in India.
Banks and NBFCs differ primarily in regulation and deposits. Banks accept demand deposits and issue cheques; NBFCs offer specialized credit to underserved segments.
Patna High Court allowed bail application in illegal mining matter as twin conditions under section 45 of the Prevention of Money Laundering Act, 2002 [PMLA Act] satisfied and also petitioner already undergone nearly 12 months of incarceration. Accordingly, bail application allowed.
Gujarat High Court held that show cause notice proposing cancellation of GST registration as well as order for revocation of application for cancellation of registration without stating any reasons is in breach of principles of natural justice and hence is liable to be quashed.
The question whether the contractual work was an exempt construction activity or taxable manpower supply required fact-finding, which was beyond the jurisdiction of the writ court as Court did not sit in appeal or reappreciate evidence, but only reviews the decision-making process, therefore, assessee had an efficacious appellate remedy under the statute.
