The Budget presented by Honourable FM Smt. Nirmala Sitaraman on 1st February 2025 was an Interim Budget or a Vote on Account Budget. Hence, there were no significant policy changes…
Section 43B of Income Tax Act allows certain expenses only when the payment is made for the same. The Union Budget of 2023, inserted a new clause (h) in Section…
Notification no 26/2022 dated 26th December 2022 introduced two new tables in GSTR-1 viz Table 14 and Table 15. These tables are relevant to suppliers who supply through E-commerce Operators…
Brief History of Section 194 o Section 194o was introduced in the Budget of 2020 w.e.f. 1st October 2020. As per this section, the E-Commerce operators are required to deduct…
Notification for ITR 1 and ITR 4 in 2025 CBDT vide notification dated 22nd December 2023 has notified two Income Tax Return (ITR) forms ITR-1 SAHAJ and ITR-4 SUGAM. It…
In a decisive and forward-thinking move to fortify the robustness of security measures associated with GST logins and deter unauthorized access, the Goods and Services Tax Network (GSTN) has introduced…
What is Appeal? Anyone dissatisfied with an adjudicating authority's order can file a GST appeal with the First Appellate Authority. You must file the appeal within 3 months, with a…
Clarification on the taxability of personal guarantee and corporate guarantee in GST – Circular No 204/16/2023-GST dated October 27, 2023 CBIC has recently issued a circular clarifying the taxability of…
Businesses are generally eligible to claim Input Tax Credits for the goods and services they use in their day-to-day operations. However, there are certain circumstances as per Section 17 of…
Highlights of Recent Notification 34/2023 – Central Tax: Exemption to Small businesses selling goods through E-commerce Operators Businesses selling their goods through E-Commerce Operators (ECO) were compulsorily required to obtain…
As a general rule, the supplier of goods or services is liable to pay GST. However, in certain cases, GST is payable by the recipient of goods or services on…
Need for GSTR-2A: When GST was introduced in 2017, taxpayers were required to file two returns, GSTR-1 and GSTR-3B. In GSTR-3B, taxpayers were claiming ITC on self-assessment basis and there…
