The Budget introduces key GST reforms covering post-supply discounts, refunds, intermediary services, and advance ruling appeals. The changes aim to reduce litigation and improve business liquidity.
The ITAT reaffirmed that Section 2(22)(e) cannot extend the definition of shareholder to a concern receiving the loan. The deemed dividend, if attracted, must be taxed in the hands of the substantial shareholder alone.
ITAT rulings clarify that deduction of tax under Section 194J does not automatically classify income as professional income under Section 44ADA.
Amendments redefine collateral, introduce acquisition and bridge finance, and clarify key lending concepts to strengthen credit regulation and risk management.
The new Act adopts a broad definition of income, covering salary, capital gains, perquisites, subsidies, and windfalls, ensuring taxation reflects real financial capacity.
The 50% wage rule under the Code on Wages mandates salary redesign across India. Multi-state employers must align payroll and compliance structures urgently.
With GSTAT operational, mismatches are no longer automatically treated as fraud. Strong documentation and intent-based defense now determine litigation outcomes.
Export refunds often get delayed due to GSTN-ICEGATE data mismatches. This guide explains error codes and corrective steps to unlock your IGST refund.
The Tribunal held that reopening based solely on investigation wing information without independent application of mind is invalid. Mechanical reasons cannot justify reassessment under Section 147.
A practical guide to ensuring Bill of Entry data flows correctly from ICEGATE to GSTR-2B. Proper verification prevents ITC blockage and compliance disputes.
