Recent High Court rulings state GST Section 129 penalties require intent to evade tax, not just technical or typographical errors. Analysis of key judicial precedents.
GST slabs consolidated to 5% and 18% in Sep 2025. Simplification aims to boost consumer demand, lower prices, cut MSME costs, and accelerate India’s GDP growth.
Section 15(3)(b) mandates ITC reversal for post-supply discount relief. Recent GST Council proposed dropping the pre-agreement rule, and the CA certificate requirement is withdrawn.
ITAT Pune upholds PCIT’s order u/s 263, setting aside an assessment for failure to verify ₹82.64 crore in advances for property purchase and related interest income.
Rajasthan HC rules bilateral contracts with a foreign entity are ‘export of services,’ not ‘intermediary’ under GST, entitling the Indian supplier to an IGST refund.
Summary of Indian real estate taxes: State stamp duty (5–7%) and registration fees, Central GST on under-construction property, 1% TDS on sales over ₹50L, and Capital Gains rules.
Valuation of immovable property is often at the heart of disputes, especially in matters relating to capital gains, Section 50C adjustments, or unexplained investments. In such cases, a registered valuer’s report, prepared under Section 34AB of the Wealth Tax Act, serves as a technical and evidentiary foundation for determining fair market value.
A comprehensive guide to applying for a 15-digit GSTIN online in 2025. Learn the step-by-step process, required documents (PAN, Aadhaar, address proof), zero government fees, and how to check your ARN status.
The 56th GST Council (Sept 2025) set the compensation cess to Nil on many imports, lowering costs. However, this GST 2.0 change creates immediate compliance risks and cash-flow issues regarding blocked, unutilized cess ITC balances.
GST 2.0 (Sept 2025) maintains 18% tax on most AMC management, advisory, and mutual fund services. Securities remain exempt. New rules require ITC reversal for inputs related to newly exempted supplies like insurance services.
