The Supreme Court ruled that GST is payable on the full face value of bets placed on online gaming platforms and not merely on platform fees. The levy was held to be constitutionally valid and retrospective.
Taxpayers are advised to wait until departmental records are fully updated before filing AY 2026-27 returns. Filing too early may lead to mismatches, notices, and refund delays.
This article explains the tax exemption framework for charitable and religious trusts under the Income Tax Act, 2025. It covers registration requirements, exemption conditions, corpus donations, accumulation rules, and GST implications.
A comprehensive review of GSTs evolution from launch to a data-driven enforcement regime. The article explains how ITC restrictions, analytics-based actions, and digital compliance have tested principles of fairness and due process.
This article provides a comprehensive overview of CARO 2020 applicability, including exemptions for small companies, OPCs, Section 8 companies, and qualifying private companies. It also summarizes all major reporting clauses that auditors must examine.
This comprehensive checklist covers every stage of a stock and receivables audit, from engagement acceptance to final reporting. It helps auditors avoid common mistakes and improve audit quality through practical guidance.
A critical analysis of whether Rule 39 requires the use of turnover or aggregate turnover for ISD credit distribution. The discussion highlights how adopting the wrong interpretation may lead to inefficient ITC allocation.
This article explains the correct method of calculating ITC reversal when both Rule 37 and Rule 42 apply. It clarifies that taxpayers should adjust for ITC already reversed under Rule 42 to prevent duplication.
Tribunal held that Section 87A rebate is linked to total income, which includes short-term capital gains. CPC’s denial of rebate on Section 111A gains was therefore unsustainable for AY 2024-25.
GSTN has made Ship-To GSTIN reporting mandatory in Bill-To/Ship-To transactions to accurately capture the actual recipient of goods. The change aims to strengthen reconciliation, compliance monitoring, and transparency in goods movement.
