Analysis of India’s GST regime, focusing on indirect access to Input Tax Credit (ITC) via intermediaries, systemic vulnerabilities, judicial trends, and necessary policy reforms.
Proposed amendment to Section 169 mandates registered post for GST notices in addition to digital service, ensuring taxpayers receive communications and participate in proceedings.
CSR under the Companies Act, 2013 is determined on a standalone basis. Holding/subsidiary companies must independently meet financial criteria to comply.
Summary of mandatory financial record-keeping periods under the Income Tax Act, GST Law (72 months), and Companies Act (8 years) to avoid penalties and ensure compliance.
Summary of GST Rule 88A and Section 49 governing ITC utilization. Explains the mandatory order of set-off and the strategic use of IGST credit to reduce cash payment.
New GST rate notifications (09/2025 & 10/2025) exempt uncoated paper used solely for notebooks/exercise books, but not other uses. This end-use-based exemption creates significant compliance risk for manufacturers and traders, as the burden of proving downstream use falls on the supplier, requiring stringent documentation and potentially impacting Input Tax Credit (ITC).
CBDT Circular 13/2025 addresses tax demands after ITR processing due to Section 87A rebate denial on special rate income. Interest waived if paid by Dec 31, 2025.
Interest under Section 234B cannot be levied on Section 115BBE-assessed income for resident senior citizens exempt from advance tax, as per ITAT and CBDT guidance.
Key regulatory updates: GST advisory, SC rulings on adjournments/confiscation, Customs tariff value fixation, REEIMS import mandate, SEBI Block Deal revision, and RBI’s ECL framework drafts.
MTD for ITSA mandates digital record-keeping and quarterly updates for self-employment and property income. Effective April 2026 for 50k+ income.
