Explainer on why wholesalers avoid permanent 10% GST loss after rate cuts: ITC on 28% purchase offsets 18% output tax. Loss occurs only if ITC is ineligible.
How to apply for ZED Certification (Bronze, Silver, Gold) via MSME portal. Learn about required documents, 4-5 day approval time, and government subsidies (up to 95%).
Clarifications for retailers on new GST rates from Sept 22, 2025: applying revised rates to stock, ITC reversal for exempt supplies, and use of accumulated credit.
Supreme Court shortens tax appeal deadline to two months for an Educational Society seeking a large income tax refund mistakenly denied, overriding the High Court’s one-year timeline.
Indemnity clauses in corporate transactions allocate risk for pre-closing liabilities and breaches of warranties. Learn about caps, baskets, and limitations of liability.
AEO Certification faces delays due to misinterpretation of the SCN disqualification clause and an inefficient, multi-layered approval process, undermining the EoDB goal.
SEBI introduced the ‘purpose and effect’ test to RPT rules, bringing transactions with unrelated parties under RPT purview if the outcome or intent is to benefit a related party.
Analysis of GST rules on refund of accumulated ITC due to inverted duty structure after tax rate reductions, clarifying anti-profiteering under Section 171.
GST is India’s destination-based, multi-stage tax implemented in 2017. It replaced multiple indirect taxes to eliminate the cascading effect and simplify compliance nationwide.
56th GST Council Meeting reduced rates on over 100 goods to correct Inverted Duty Structure (IDS), aiming to cut ITC refunds and propose 90% provisional refunds for faster cash flow.
