Form GST ASMT-10 plays a central role in this scrutiny process. It is used by the tax authorities to formally notify registered taxpayers about observed discrepancies in their returns, and to provide a chance to explain or correct them before any further action is taken.
While nations chase Mars and AI glory, China has quietly secured 90% control over refined rare earths—the core of all modern tech. By 2027, this dominance could paralyze global industries from EVs to defense.
After touching record highs in early October 2025, silver prices fell 8% as easing U.S.-China trade tensions and profit booking led investors to pull back. Experts say correction is healthy and offers long-term buying opportunities.
Read a detailed proposal to the Finance Minister outlining a multi-vendor model to solve persistent ITR portal glitches, reduce single-vendor risk, and improve stability.
The Bombay High Court’s views on single GST Show Cause Notices (SCN) for multiple years are clarified. Initial prima facie views in RioCare were not a final ruling.
A summary of Income from Other Sources (I.F.O.S.), covering the basis of charge, list of specific incomes like dividends, winnings, and rent, taxation of gifts and property received for inadequate consideration, and applicable deductions under the residual tax head.
The Supreme Court affirmed that an innocent buyer cannot be denied ITC solely due to the seller’s failure to remit tax or file returns, a principle relevant to GST’s Section 16(2)(c).
Gifts exceeding Rs.50,000 are taxable for the receiver under Income Tax, except those from relatives or received on marriage. TDS applies to business perquisites over Rs.20,000.
Key circulars and rulings from October 13-19, 2025, covering Income Tax exemptions, GST return deadline extensions, SEBI RPT disclosure changes, MCA filing extensions, and significant IBC judgments.
Overview of Capital Gains tax: definition of capital asset, distinction between short-term and long-term assets, meaning of transfer, list of exempt transactions, and the computation formula, including indexation rules and recent amendments.
