The analysis confirms that export of legal services qualifies as zero-rated supply under Section 16 of the IGST Act. Refund of unutilised ITC cannot be denied merely because domestic legal services attract RCM.
The new law consolidates all TDS provisions into a single structured section with three tables for residents, non-residents, and specified payments. Compliance shifts from section-based to table-code reporting.
The framework clarifies which GST officers can issue SCNs and adjudicate demands under Sections 73 and 74. Jurisdiction depends strictly on assigned functions and monetary limits.
With automated notices and strict system validations, even minor GST mismatches can trigger penalties, interest, and blocked returns. Businesses must strengthen ITC reconciliation, filing discipline, and vendor compliance to avoid financial risks.
The new law outlines detailed rules for computing regular, residual, and specified income of registered NPOs. It also prescribes disallowances and a 30% tax on specified income.
The draft directions outline conditions for forward contracts and derivative transactions involving INR. Clear limits and compliance requirements apply to FIIs, NRIs, and Authorised Dealers.
Explains the legal distinction between agricultural and non-agricultural income under the Income Tax Act, 1961. Highlights tax exemption rules and conditions for agricultural income.
Tribunal held that a commercial tannery cannot be treated as a residential house merely because rent is taxed under “House Property.” Section 54F exemption cannot be denied on such technical classification.
Explains how residential status determines tax liability under the Income Tax Act, 2025. Clarifies who is taxed on global income and who is taxed only on domestic income.
Introduction The story of cryptocurrency in India has been a roller-coaster ride, to say the least. From the Reserve Bank of India’s (RBI) ‘shadow ban’ in 2018 to the Supreme Court’s landmark judgment in Internet and Mobile Association of India v. RBI (2020), the journey has been one of ups and downs for the cryptocurrency […]
