Explains how the new rules enable online deposits, wider bank access, and digital account closure, making CGAS vastly more convenient for taxpayers.
A clear breakdown of mandatory financial details—assets, liabilities, and income—that candidates must disclose in nomination affidavits. Key takeaway: transparency is enforced to help voters make informed choices.
From Nov 1, 2025, GST registration to be granted in 3 days under Rule 14A for small B2B taxpayers with monthly tax liability up to ₹2.5 lakh.
October 2025’s GST return is the final window for crucial adjustments for FY 2024-25, including claiming pending ITC, reconciling GSTR-2B, issuing credit notes, and making classification amendments.
31st October 2025 marks key tax deadlines: Tax Audit Report, Income Tax Return, and TDS Return. Timely filing avoids penalties and ensures smooth compliance.
Gifts exceeding Rs.50,000 are taxable for the receiver under Income Tax, except those from relatives or received on marriage. TDS applies to business perquisites over Rs.20,000.
Summary of mandatory financial record-keeping periods under the Income Tax Act, GST Law (72 months), and Companies Act (8 years) to avoid penalties and ensure compliance.
Recent GST changes simplify post-sale discounts via Credit Notes, mandate invoice-wise TDS reporting in GSTR-7, impose a 3-year limit on filing old returns, and introduce electronic filing for GSTAT appeals.
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.
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 […]
