An overview of presumptive taxation’s history, global use, benefits, and limitations. Examines its role in simplifying taxes for small businesses and constitutional challenges.
GST 2.0 introduces tax reductions on medicines and medical devices in India. This summary details the changes, including tax exemptions and rate cuts, alongside challenges like inverted duty structure and inventory management.
Learn about the changes to income tax reopening proceedings under the Finance Act, 2021. This summary explains the new Section 148A and its relationship with Section 135A, highlighting key procedural points and common issues.
Learn about India’s optional tax regime under Section 115BAC, which offers lower tax rates in exchange for giving up various exemptions and deductions.
Learn about the five major changes to Income Tax Form 3CD for Assessment Year 2025-26, including new reporting requirements for MSME payments, share buybacks, and loans.
A detailed guide to audit obligations under Section 44AB and presumptive taxation schemes under Sections 44AD and 44ADA. Explains turnover limits, digital transaction benefits, lock-in rules, and when tax audit becomes compulsory
The Supreme Court, in Abhimanue v. State of Kerala, ruled that a High Court’s inherent power can be used to cancel bail even after a Sessions Court’s dismissal of a plea.
This article examines advanced and practical challenges with the GST Input Service Distributor (ISD) mechanism, covering issues from expense identification to ITC eligibility and procedural gaps.
Sikkim High Court denies a company’s plea for a GST refund on unused ITC after business closure, citing statutory limitations under Section 54(3).
The government has made re-stickering of products with revised MRPs optional following GST rate cuts, prioritizing transparent billing over physical changes.
