Introduction As we know some commodities are made available to us in packaged or branded form and some in loose forms, So, I decided to write an article which defines taxability of these items, since 2017 when Goods and Services Tax was implemented in India, the tax treatment of everyday consumables inter alia like cereals, […]
Sikkim High Court allows GST ITC refund for closed business (SICPA India Pvt. Ltd.), ruling that retaining unutilized credit is unjust and unconstitutional.
In this article, I am going to discuss an amazing case law addressing this issue, a recent landmark ruling of a High Court, here name is anonymized for neutrality purposes but based on the facts provided, we will discuss the same, this case has reiterated a fundamental principle of natural justice and commercial certainty, in which a bona fide purchaser cannot be denied ITC merely because of the supplier’s default, especially when the buyer has acted diligently and made payments through banking channels.
Telangana AAR rules promotional scratch cards are taxable under GST, not gifts, if linked to sales targets. This decision impacts business incentive schemes.
In this article I will present my detailed analytical view of revised Format for Financial Statements by ICAI on non corporate entities, based on the ICAI’s guidance note.
An amendment to GST rules clarifies that traders under the composition scheme pay tax only on taxable supplies, not exempt supplies, easing burden on those with mixed sales.
Your ITR refund for FY 2024-25 may be delayed due to pending tax issues. Learn why and how to handle notices from the Income Tax Department.
Mumbai ITAT clarifies LTCG on property: Allotment date, not registration, determines holding period. Impact on tax, Sec 54/54F claims.
ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income under Section 68.
Learn about HRA claims, TDS obligations on rent, and why taxpayers are receiving tax notices. Understand compliance steps to avoid penalties and legal issues.
