Bombay HC ruled that the omission of GST Rules 89(4B) and 96(10) nullifies all pending proceedings, as the repeal lacked a savings clause. Exporters get relief on refund claims.
GST rate reductions or exemptions require careful ITC management. Learn rules for utilizing existing credit, mandatory reversal for nil-rated goods, and applying the correct rate using time of supply.
India rolls out GST 2.0 on 22 Sept 2025, moving to two main slabs (5% & 18%). The reform zero-rates essentials, lowers costs for many sectors, and simplifies compliance.
SMEs are increasingly using the IPO route to raise capital, avoiding the loss of control and high dilution of private equity. This shift improves valuation, liquidity, and transparency.
ASMT-10 issuance under GST Section 61 is mandatory before SCNs (73/74) for return discrepancies. It offers taxpayers a chance to rectify and halt further proceedings.
Analysis of essential direct tax law features: clarity, competitive rates, and the use of GAAR. Covers corporate tax choices, AIS/TIS compliance, and certainty mechanisms in India.
Banks and NBFCs differ primarily in regulation and deposits. Banks accept demand deposits and issue cheques; NBFCs offer specialized credit to underserved segments.
Summary of Section 44AB, 44AD, and 44ADA tax audit provisions, detailing turnover thresholds (₹1 Cr to ₹10 Cr), presumptive income rates (6%/8%/50%), and the impact of digital transactions (95% rule).
Core principles of professionalism (integrity, objectivity, independence) for CAs and bankers, enforced by ICAI, Companies Act, and RBI rules, using case law and numerical examples.
New GST rates tax paper based on end-use (18% vs. Nil-rated). This complicates compliance and blocks ITC, potentially increasing the final cost of exempt products like exercise books.
