Key changes to GST returns are coming. Understand the non-editable GSTR-3B liability, GSTR-1A for corrections, and updated HSN code requirements for B2B and B2C supplies to ensure compliance.
MCA announced rollout of final set of 38 company forms—including 13 Annual Filing and 6 Audit/Cost Audit forms—on its V3 portal, scheduled to go live on 14 July 2025 at 12:00 AM.
Understand the Income Tax Act’s requirements for maintaining business and professional accounts. Learn about essential documents, specific rules for medical professionals, and turnover/gross receipt thresholds for mandatory account keeping.
Foreign direct investment (FDI) plays a crucial role in a country’s economic development. In India, entities receiving FDI or having outbound investments are subject to various compliance requirements—one such essential filing is the FLA Return (Foreign Liabilities and Assets Return), mandated by the Reserve Bank of India (RBI).
Startups often grow rapidly, but documentation and compliance don’t always keep up. As a result, during due diligence—whether for funding, acquisition, or compliance checks—several issues routinely surface. These problems are usually avoidable but continue to persist due to lack of formal systems in place.
Understand the GST DIN exemption for common portal communications with verifiable Reference Numbers (RFN). Learn about valid GST communication methods and the retrospective application of beneficial circulars
Allahabad High Court rules in Raj Steel case that excess stock alone does not warrant Section 130 GST confiscation without intent to evade tax. Upholds Dinesh Kumar precedent, emphasizing tax recovery via Sections 73/74 for discrepancies.
Allahabad HC rules buyers can claim ITC even if suppliers default on tax payments/returns, provided buyer complied. Department must pursue defaulting supplier.
Kerala High Court mandates hearing foreign nationals before restricting movement under the Foreigners Act, reinforcing Article 21 rights and procedural fairness.
Deadline for filing Income Tax Returns is fast approaching. Although due date for non-audit taxpayers has been extended to September 15, 2025, it is advisable not to wait, at least for tax payment, until due date of ITR filing.
