The article explains when ITC must be reversed under GST law and highlights the interest and penalty consequences of failing to comply with reversal provisions.
This article explains the meaning, purpose, and essential clauses of a development agreement. It highlights how development rights, timelines, consideration, and obligations are structured to protect both landowners and developers.
The Income Tax Act, 2025 reintroduces a dedicated block assessment mechanism for search cases. The framework simplifies post-search assessments by focusing on undisclosed income detected during the search.
The Supreme Court held that online gaming, fantasy sports, and similar activities involving monetary stakes on uncertain outcomes fall within betting and gambling for GST purposes. It upheld the GST framework and taxation of actionable claims arising from such transactions.
The article explains why PSARA License is compulsory for security agencies in India and outlines the legal requirements, eligibility conditions, and compliance obligations for lawful operations.
Companies receiving foreign investment must comply with reporting, valuation, and approval requirements under FEMA. Failure to do so can result in penalties, regulatory action, and delays in future fundraising.
The article explains the advance tax framework applicable from Tax Year 2026-27. Taxpayers with net tax liability of Rs. 10,000 or more must generally pay tax in instalments during the year.
The article explains how the Finance Act, 2026 replaced the deemed dividend framework with capital gains taxation. The change allows taxation of actual gains rather than the entire buyback consideration.
Focusing only on receivables can miss significant risks embedded in related-party payables. A bilateral review reveals internal group funding structures, offsetting balances, and potential drawing power distortions.
The Supreme Court refused to bypass the statutory GST appeal mechanism and directed the taxpayer to pursue appellate remedies. However, it preserved the constitutional challenge to Section 16(2)(c), leaving the ITC controversy unresolved.
