The article analyses whether lower tax rates under Section 115BAC outweigh the loss of deductions, examining legal validity and financial impact on middle-class taxpayers.
This article explains how GST applies to digital services under OIDAR, highlighting place of supply rules, foreign supplier compliance, and emerging cross-border taxation issues.
Section 76 allows recovery of GST collected but not remitted, with equal penalty and interest. Courts are urging authorities to act against defaulting suppliers instead of penalising recipients.
Database mismatches can wrongly deactivate PAN for NRIs, resulting in higher tax withholding and significant capital blockage during property transactions.
High revenue alone cannot ensure stability. This article explains why founders must monitor cash forecasts, unit economics, and working capital to avoid liquidity crises and ensure scalable growth.
The rise of AI-generated influencers and synthetic commercial actors is testing identity-based tax systems. The article explains how deepfakes complicate income attribution, GST compliance, and enforcement mechanisms.
The Bombay High Court held that failure to furnish a lender’s certificate cannot justify reopening of assessment for a let-out property. It clarified that the certificate requirement under Section 24(b) applies only to self-occupied properties.
ITC on bikes and scooters is blocked if used for passenger transport under Section 17(5)(a) of GST. Credit is allowed only in limited cases such as passenger transport, resale, or driving training.
Tax authorities initiated scrutiny and proposed addition solely because share acquisition details were not properly disclosed in the ITR. The case reinforces that for directors, the ITR functions as a detailed disclosure document, not just a salary return.
Step-by-step guide to filing GST appeal under Section 107, covering limitation, pre-deposit, rectification, documents and drafting strategy.
