Urgent clarification needed on issuing GST credit notes for pre-rate change stock. Understand the implications of new MRP labels and how to reverse GST liability without returning goods.
GST simplified taxes for small firms but added compliance costs. Refund limits, return errors, and court rulings continue to shape their tax challenges.
Learn about the history of the Angel Tax in India, its impact on start-ups and investors, and the policy reforms that eventually led to exemptions for eligible new businesses.
The Supreme Court affirmed that a promissory note binds the borrower to the full amount acknowledged, even without bank records for cash portions of the loan.
The Delhi High Court ruled that a GST refund approved by an appellate authority cannot be withheld solely based on the Commissioner’s opinion without an actual pending appeal.
Discover how internal auditors use financial management concepts like inventory, cash, and capital management to assess efficiency and mitigate financial risks.
Examine recent accounting frauds in India, their root causes, and the corrective actions taken by professional bodies, government, and organizations. Learn from PNB, IL&FS, and other cases.
The GST 2.0 reforms block input tax credit for healthcare and insurance, reintroducing cascading taxes and hidden costs, despite nil or exempt rates.
The Delhi High Court rules that arbitral awards based on unsubstantiated CA certificates are invalid, requiring arbitrators to rely on concrete, verifiable evidence.
Service providers may claim GST IDS refunds, but only on input goods, not input services. Supreme Court rulings and 2022 rule changes define the limits.
