The government has appointed 22 Judicial Members as Vice Presidents of GSTAT benches. The move aims to improve efficiency and strengthen GST dispute resolution.
Form 9 is a key document evidencing payments to approved research programmes. It supports deduction claims but does not guarantee eligibility.
Form 4 is mandatory for reporting income from assets located in India under the new tax law. It ensures accurate computation and aids tax authorities in verification.
The new Act retains the existing return filing framework, including due dates and compliance requirements. Returns for earlier years continue under the old law, ensuring continuity.
The new Act continues the existing tax payment framework without altering compliance obligations. It simplifies presentation while preserving the structure of TDS, advance tax, and self-assessment tax.
The circular allows PoPs to engage new categories like professionals, fintechs, and rural agents as Pension Agents. The key takeaway is expanded outreach with strict compliance responsibility on PoPs.
SEBI examined whether WhatsApp chats can serve as proof of client instructions. It held they are valid if properly recorded, retrievable, and legally verifiable.
The circular directs eligible financial institutions to provide interest support for export factoring to MSMEs. The key takeaway is improved access to export finance through regulated entities.
The GST authority held that soap containing more than 60% Total Fatty Matter qualifies as toilet soap under HSN 3401. As a result, such soaps attract 5% GST despite being used for both bathing and laundry.
The inspection report highlights deficiencies in audit documentation, independence monitoring and compliance with auditing standards. It stresses the need for stronger quality control systems and improved audit procedures.
