The article explains common objections raised during GST departmental audits under Section 65, including ITC mismatches, GSTR reconciliation issues, and reverse charge disputes. It also discusses judicial rulings supporting taxpayers in genuine ITC claims.
The article explains how digital adjudication systems, virtual hearings, and online compliance platforms are reshaping India’s corporate regulatory framework. It highlights benefits such as transparency, efficiency, and reduced procedural delays.
The article explains all ITR forms applicable for AY 2026-27 and highlights key changes in capital gains, buyback taxation, and foreign asset reporting. It emphasizes selecting the correct form to avoid defective return consequences under Section 139(9).
The article explains how rigid GST compliance and fear of penalties are pushing small businesses back into cash transactions. It suggests simplified GST reforms and composition scheme expansion to encourage formalisation.
The new Invoice Management System (IMS) will introduce real-time invoice matching and automated ITC verification under GST. Businesses will need stronger compliance systems and accurate invoice reporting.
The Income Tax Department has enabled ITR-1 and ITR-4 filing utilities for AY 2026-27. Taxpayers are advised to verify AIS, TDS, and Form 26AS details before filing returns.
This article explains updated GST rates, ITC rules, SAC classifications, and compliance requirements applicable to hotels and hospitality businesses. It also covers restaurant services, banquet halls, transportation, and ancillary services.
The article explains how excessive gold imports are creating economic pressure on India despite gold’s deep cultural importance. It highlights the growing push toward productive investments and long-term economic growth.
This guide explains the legal process for striking off companies under Section 248 of the Companies Act, 2013. It covers eligibility, procedures, ROC powers, and the legal consequences of company dissolution.
ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory timelines. The FAQs explain how taxpayers can rectify such reporting errors through future GSTR-3B adjustments.
