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Non-resident experts under notified government schemes will not be taxed on foreign income for five years, provided residency conditions are satisfied.
Supreme Court rules that foreign taxpayers without current projects or PE in India can still set off expenses and depreciation against refund interest.
India’s Finance Act 2025 clarifies Significant Economic Presence (SEP) rules, excluding mere purchase of goods in India for export from tax liability.
Explore how Ind AS 113 and IFRS 13 guide fair value using market-based and income-based valuation approaches with key differences and practical examples.
Learn how to identify performance obligations under Ind AS 115 and IFRS 15 for accurate revenue recognition. Includes examples from construction, software, and telecom.
Understand the difference between Regular and Composite GST dealers, their tax rates, compliance requirements, ITC eligibility, and suitability for businesses.
Learn how Ind AS 116 & IFRS 16 define lease substitution rights. Understand when asset control determines lease recognition in financial reporting.
The Goods and Services Tax (GST) framework differentiates between Casual Taxable Persons (CTP) and Non-Resident Taxable Persons (NRTP), each with distinct compliance requirements. A CTP is an Indian entity or individual supplying taxable goods or services in a state where they do not have a fixed business presence. Conversely, an NRTP refers to a foreign […]
Section 34(2) of CGST Act allows a supplier to issue a credit note to adjust the taxable value or tax payable in case of: Post-supply discounts, ,Returns of goods, or Deficiencies in services.
Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, and extended filing deadlines.
