ITIRS 2018 encourages citizens to report substantial tax evasion, guaranteeing confidentiality and structured rewards. False reporting is punishable, and irrecoverable taxes are excluded from reward claims.
GSTN clarifies that supplies added or amended via GSTR-1A will auto-populate Tables 4 and 5 in GSTR 9, ensuring annual returns reflect the most updated liability data.
The article examines how AI improves efficiency but also risks hallucinations, errors, and weakened human reasoning. It highlights the need for balanced usage and strong human oversight.
The article explains how procedural lapses ex-parte orders, missing notices, and bias—undermine fairness in GST proceedings. It stresses that restoring natural justice is essential for taxpayer confidence.
Vishnupriya Tawania Cross-border mergers & acquisitions have become common in this era of globalisation, when two or more companies come together to form a completely new entity or merge into one existing company, which may or may not relate to businesses of those companies. This process involves transfer of property rights, assets and liabilities and […]
Filing requirements are based on company status as on 31 March 2025, not the revised definition taking effect later. Companies crossing ₹4 crore capital or ₹40 crore turnover must file MGT-7.
Companies falling under revised small company thresholds can choose whether to maintain dematerialization compliance. Non-filing of PAS-6 is legally acceptable.
After the revised Small Company definition takes effect, private companies that fall under the new limits are no longer bound by Rule 9B. Their ISIN becomes optional, and PAS-6 filing is not required.
Explore why annual GST returns and reconciliation statements may not deliver practical value despite being mandatory, and how taxpayers are impacted.
Exemption under Entry 13 applies when rented properties are used as residences, irrespective of sub-leasing. The ruling ensures that GST is not unfairly levied on hostel and student accommodations.
