The key question under discussion is whether the Reserve Bank of India (RBI) qualifies as a banking company under Section 17(4) of the CGST Act, 2017, thereby making it subject to the 50% Input Tax Credit (ITC) restriction.
The Supreme Court emphasizes strict scrutiny of FIRs under stringent laws like the UP Gangsters Act to prevent misuse in property disputes, safeguarding constitutional rights.
Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax year terminology and TDS/TCS rules.
New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained provisions
A comparative analysis of Income Tax Act 1961 vs Income Tax Bill 2025, highlighting key changes in salary, capital gains, house property, business income & assessments.
Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, house property and business income provisions.
Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redundancy and enhancing clarity.
Explore the complexities of GST on corporate guarantees, recent legal challenges, valuation rules, and industry concerns regarding compliance and litigation risks.
A detailed comparison of key provisions in the Income Tax Act, 1961, and the proposed Income Tax Bill, 2025, highlighting major changes and updates.
Learn about Reverse Charge Mechanism (RCM) under GST, its applicable goods/services, suppliers, recipients, and GST rates. Stay updated with CBIC notifications.
