Introduction In a landmark decision offering relief to GST-registered businesses, the Calcutta High Court has stayed an order directing the reversal of input tax credit (ITC) that was mistakenly claimed…
Introduction The Central Board of Indirect Taxes and Customs (CBIC) has issued an important clarification via its official X account (formerly Twitter) on June 10, 2025, in response to a…
Introduction As per current GST regulations, any movement of goods valued over ₹50,000 requires the generation of an E-Way Bill (EWB). This rule applies across India, regardless of whether the…
IntroductionThe Income Tax Department has released all seven Income Tax Return (ITR) forms for the Assessment Year (AY) 2025–26, corresponding to the Financial Year (FY) 2024–25. Filing your ITR correctly…
Introduction Filing your Income Tax Return (ITR) correctly is essential for maintaining financial compliance and ensuring that you avoid unnecessary complications later. As we approach the Assessment Year 2025–26, it’s…
Introduction India’s Goods and Services Tax (GST) collections soared to a record ₹2.37 lakh crore in April 2025, registering a 12.6% year-on-year (YoY) increase, according to data released by the…
Introduction Since its rollout in July 2017, the Goods and Services Tax (GST) has been one of the most significant reforms in India’s indirect tax framework. For India’s Micro, Small,…
Introduction The restaurant and food delivery industry in India is under increased scrutiny from the Goods and Services Tax (GST) department. The latest focus is on the packaging charges levied…
Introduction GST (Goods and Services Tax) has revolutionized the way businesses in India manage their tax liabilities. With its complex framework, especially with multiple categories such as CGST, SGST, and…
In a much-needed clarification that brings relief and clarity to millions of digital payment users, the Ministry of Finance has officially stated that no Goods and Services Tax (GST) is…
Introduction To all our valued vendors—this is an important compliance update from CaptainBiz. The new financial year is here, and to ensure continued association and access to MSME benefits, we…
Introduction In a significant move to streamline and validate enterprise data, the Ministry of Micro, Small and Medium Enterprises (MSME) has issued a compliance deadline of April 21, 2025, for…
Introduction The Goods and Services Tax (GST) system is continuously evolving to improve accuracy, transparency, and efficiency in tax filing. As part of the Phase-III reforms, changes to Table-12 of…
Introduction In a significant move aimed at enhancing GST compliance and removing data duplication errors, the Goods and Services Tax Network (GSTN) has issued a critical advisory regarding a change…
Introduction Bookkeeping forms the cornerstone of efficient financial management in any business. It involves the meticulous documentation, categorization, and reconciliation of all financial transactions that occur within a business operation.…
Introduction As India’s tax system continues to evolve, a key decision for taxpayers in 2025 is choosing between the old tax regime and the new tax regime. Introduced to simplify…
IntroductionIn today’s rapidly digitizing economy, the traditional methods of invoicing and taxation are being replaced by faster, smarter, and more automated digital solutions. Among these, the implementation and optimization of…
IntroductionDid you know that by 2025, over 90% of businesses will rely on e-invoicing for GST compliance? With rapid advancements in AI-driven automation, blockchain security, and digital tax filing, GST…
Micro, Small, and Medium Enterprises (MSMEs) are the backbone of India's economy, contributing significantly to employment and GDP growth. However, when disputes arise, particularly under the Arbitration and Conciliation Act,…
IntroductionStarting April 1, 2025, businesses registered under the Goods and Services Tax (GST) regime in India must comply with a new 30-day e-invoice rule, as notified by the Goods and…
Introduction In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Delhi Bench, has held that no penalty under Section 270A of the Income Tax Act can be imposed for…
Introduction From July 1, 2024, partnership firms and LLPs must deduct TDS on payments to partners under the newly introduced Section 194T. This new provision, part of the Finance Bill…
Introduction A recent survey conducted by the Indian Council for Research on International Economic Relations (ICRIER) reveals a significant shift in how Micro, Small, and Medium Enterprises (MSMEs) are accessing…
Introduction A recent report by the Public Accounts Committee (PAC) has put the spotlight on the difficulties faced by Micro, Small, and Medium Enterprises (MSMEs) and exporters under the current…
Introduction In a noteworthy move aimed at easing the tax compliance burden and encouraging the settlement of past disputes, the Central Board of Indirect Taxes and Customs (CBIC) has notified…
Introduction In a significant move to ensure financial discipline and timely payments to Micro and Small Enterprises (MSEs), the Ministry of Micro, Small and Medium Enterprises (MSME) has announced a…
Introduction TDS (Tax Deducted at Source) is a well-known concept under the Income Tax Act, but it also plays a significant role in GST compliance. If you are a government…
IntroductionAs businesses strive to stay GST-compliant, one common stumbling block has been the correct filing of forms SPL-01 and SPL-02—especially under the GST Amnesty Scheme. Recently, the Goods and Services…
The GST Council is reportedly considering a reduction in the Goods and Services Tax (GST) on health and life insurance policies from the current 18% to 5%. This middle-ground approach…
Navigating the realm of Goods and Services Tax (GST) registration can be a crucial stepping stone for small businesses looking to establish compliance with tax regulations. Understanding the nuances of…
In the realm of taxation and business operations, the Goods and Services Tax (GST) number plays a pivotal role in the regulatory landscape. This unique identification number is essential for…
The GST Composite Taxpayer Scheme is a game-changer for small businesses and startups in India, offering a simplified tax compliance framework. With cost-saving benefits, streamlined processes, and better cash flow…
Introduction As the financial year draws to a close, managing your taxes effectively can lead to significant savings. Here's a guide on how to minimize your tax liabilities before the…
Introduction As the financial year 2024-25 draws to a close, businesses across India must gear up for the crucial task of GST compliance. Adhering to the guidelines set forth by…
TDS Changes Effective from 1st April 2025: Key Updates for Taxpayers Starting from April 1, 2025, several changes to the Tax Deducted at Source (TDS) regulations will come into effect…
In a significant financial development, the latest data from the Income Tax Department reveals that over 4.68 lakh taxpayers in India declared an annual income exceeding ₹1 crore in their…
Micro, Small, and Medium Enterprises (MSMEs) are the backbone of India's economy, contributing significantly to employment, GDP, and exports. In a recent announcement, the government has unveiled plans to provide…
The growth rate of e-way bill generation in India slowed to 14.7% in February, according to the latest data from the Goods and Services Tax Network (GSTN). This marks a…
Public sector banks in India are increasingly collaborating with fintech companies to enhance the accessibility and efficiency of MSME (Micro, Small, and Medium Enterprises) lending. These partnerships aim to streamline…
