Fema / RBI : RBI has launched the Integrated Ombudsman Scheme, 2026, providing a centralized, cost-free mechanism for resolving complaints agai...
Fema / RBI : RBI has updated the FLA Return FAQs, clarifying who must file, the 15 July deadline, revision procedures, and reporting requiremen...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
Company Law : The document clarifies that a director's resignation becomes effective upon receipt by the company or the specified future date, w...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Corporate Law : MoSPI will introduce the Index of Services Production (ISP) to measure short-term changes in the formal services sector. The month...
Finance : The FAQs clarify the implementation of the IFSCA AML/CFT/KYC Guidelines, covering customer due diligence, reporting obligations, g...
Finance : The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Fema / RBI : RBI has clarified reporting requirements, valuation methods, submission procedures, and entity obligations under the Portfolio Inv...
SEBI : NSE released detailed FAQs to address practical issues in submitting Quarterly Integrated Filing – Governance reports through XB...
Finance : The circular addresses uncertainty in FLA reporting FAQs under FEMA. It directs institutions to pause action until regulatory clar...
Corporate Law : FSSAI introduced perpetual licenses and simplified registration norms to ease compliance. The reforms reduce costs while maintaini...
SEBI : FPIs can now apply for Digital Signature Certificates directly within the CAF portal. The move simplifies onboarding and reduces p...
Goods and Services Tax : GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-popula...
As per Sec. 10(1) of the CGST Act, 2017, a registered person whose aggregate turnover in the preceding FY did not exceed Rs.75 lakhs, would be eligible for paying GST under the composition scheme.
All imports will be deemed as inter-State supplies for the purposes of levy of GST. IGST is leviable on imports in addition to other duties of customs. Full set-off will be available as ITC of the IGST paid on import on goods and services
You shall be granted a single registration in the State/UT. However, you have the option to take separate registration for each of your business verticals (as defined in section 2(18) of the CGST Act, 2017) in the State/UT.
The assessment of drugs and formulations under GST would be on the basis of transaction value at each level of supply with end to end ITC chain for neutralizing the GST paid at the procurement level.
When registration under GST is required to be taken by Jewelers? A. i) Once the aggregate turnover crosses Rs.20 lakh a person becomes liable for registration. Time limit – Within 30 days from the day limit for aggregate turnover is crossed.
Clarifications with FAQs on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
1. What is GSTR-1? GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services. 2. Who is required to file the GSTR-1? Every registered taxable person, other than […]
1. How can I download and install the Invoice Upload/Download Offline Tool in my system from the GST Portal? 1. Login to the GST Portal gst.gov.in.2. Go to Downloads > Offline Utilities> Returns Offline Utility > Download
If I buy raw material from a supplier unregistered under GST, do I have to pay GST in RCM and can I avail ITC of the same? Reply :- Yes, you have to pay GST via Reverse Charge Mechanism (RCM). You can avail ITC of the GST so paid if you are otherwise eligible.
Question 1: How are exports treated under the GST Law? Answer: Under the GST Law, export of goods or services has been treated as: i) inter-State supply and covered under the IGST Act. ii) ‘zero rated supply’ i.e. the goods or services exported shall be relieved of GST levied upon them either at the input stage or at […]
