Learn how ITC works, who can claim it, and the compliance requirements under GST. Key takeaway: ITC can save costs but is not an automatic right.
Explains proper disclosure of foreign custodial accounts, RSUs, MMFs, and dividends. Key takeaway: each income type requires separate reporting to stay compliant.
A clear guide on how US dividends are taxed under the India–US DTAA. Key takeaway: US withholding is capped at 25%, but India taxes dividends fully with FTC relief.
Ferrite beads imported for telecommunication devices were held distinct from ferrite cores and classified as inductors, aligning with HSN definitions and judicial precedents.
ITC denial is unjustified when the supplier was registered at the time of the transaction. Courts confirm bona fide purchasers retain credit if statutory conditions are met.
The Court condoned a 31-day delay in filing Form 10B after finding the reasons bona fide and linked to COVID-19 disruptions. It set aside the rejection order and directed reprocessing of the return with exemption benefits.
Breaks down the 2025 GST changes affecting accommodation services. Key takeaway: rooms under ₹7,500 are taxed at 5% without ITC, while higher-priced rooms continue at 18% with ITC.
Explains the correct process for claiming past ITC using GSTR-2B data and filing within the annual return deadline. Key takeaway: claim only reflected ITC to avoid variance notices and defer unmatched invoices.
Explains how foreign earnings must be reported as business income, converted at the correct exchange rate, and supported with documentation. Key takeaway: GST applies only once turnover crosses ₹20 lakh or service imports occur.
Explains why digital game skins are excluded from the VDA category and taxed under normal income-tax slabs. Key takeaway: traders avoid the 30% VDA rate but must follow standard business or other-income rules.
