The ICAI has released an Exposure Draft for revised Forensic Accounting and Investigation Standards (FAIS), aiming to modernize practices and improve quality. Public comments are invited until June 19, 2025.
The Supreme Court recently quashed a Section 498A IPC cruelty case initiated by a woman police officer against her husband, his aged parents, and five sisters, citing concerns about misuse of legal provisions and lack of specific allegations. The Court exercised its powers under Article 142 to set aside the Delhi High Court’s judgment and quash the FIR and chargesheet.
Karnataka High Court registers suo motu case on Chinnaswamy Stadium stampede, seeking status report. 11 dead. FIR lodged against RCB, event management, KSCA. Judicial inquiry initiated.
A common point of confusion for millions of grocery store owners and other small retailers in India is whether they must include Harmonized System of Nomenclature (HSN) code when filing their GSTR-1 returns.
Understand role of Form 10F for non-residents to claim Double Taxation Avoidance Agreement (DTAA) benefits and avoid higher withholding tax in India.
In this article, I am going to discuss an amazing case law addressing this issue, a recent landmark ruling of a High Court, here name is anonymized for neutrality purposes but based on the facts provided, we will discuss the same, this case has reiterated a fundamental principle of natural justice and commercial certainty, in which a bona fide purchaser cannot be denied ITC merely because of the supplier’s default, especially when the buyer has acted diligently and made payments through banking channels.
RBI cut its repo rate to 5.50% and CRR to 3% on June 6, 2025, aiming to increase liquidity and lower loan costs. See the market reaction and economic impact.
Understand essential documents and conditions for claiming Input Tax Credit (ITC) under GST, including invoice rules, supplier compliance, and key deadlines.
The RBI announced its June 2025 monetary policy, reducing the repo rate to 5.50% and adjusting other key rates. CRR will decrease to 3.0% in phases.
Understand deferred tax under the Income Tax Act, including Deferred Tax Assets (DTA), Deferred Tax Liabilities (DTL), permanent vs. temporary differences, and their accounting impact.
