Clipped from: https://www.taxscan.in/filing-appeal-revocation-cancellation-of-gst-registration-intent-importance-purposes/469454/ The cancellation of GST registration can have significant repercussions for businesses, affecting their operational continuity and legal compliance. It often arises due to
Category: Seven Star
*******Received GST SCN under Section 16(4)? Here’s What to Do [Find Draft Format Here]
Clipped from: https://www.taxscan.in/received-gst-scn-under-section-164-heres-what-to-do-find-draft-format-here/481746/ When addressing a Show Cause Notice (SCN) issued under Section 16(4) of the CGST Act, 2017, it is vital to craft a clear and legally
GST Recovery Stay Amid GSTAT Delays: Draft Request Format Attached
Clipped from: https://www.taxscan.in/staying-gst-recovery-proceedings-awaiting-formation-of-gstat-find-draft-request-format-here/481154/ The Goods and Services Tax (GST), introduced in India on July 1, 2017, marked a significant overhaul of the indirect taxation system in
*******Adjournment against GST SCN: Find Draft Format
Clipped from: https://www.taxscan.in/seeking-adjournment-against-a-gst-show-cause-notice-find-draft-format-here/478956/ A Show-Cause Notice (SCN) is an essential instrument used by the revenue authorities under the Goods and Services Tax (GST) framework to initiate
*******ITC Reversal w/out E-Invoice: Draft Reply to SCN
Clipped from: https://www.taxscan.in/reversal-of-itc-in-the-absence-of-e-invoice-how-to-draft-reply-towards-show-cause-notice/458188/ The Input Tax Credit ( ITC ) mechanism is a cornerstone of the Goods and Services Tax ( GST ) regime in India.
*******How to Draft Reply Notices for SCN in Dual Jurisdiction Conflicts
Clipped from: https://www.taxscan.in/avoiding-dual-jurisdictions-in-gst-assessments-how-to-draft-reply-notices-for-scn-in-dual-jurisdiction-conflicts/483023/ India’s Goods and Service Tax ( GST ) state was introduced in 2017. This was a move to consolidate indirect taxes under a
*******ITC Reversal on Book Adjustments: Draft Reply to GST SCN
Clipped from: https://www.taxscan.in/itc-reversal-on-book-adjustments-how-to-draft-reply-for-response-to-gst-show-cause-notice/438368/ The Goods and Services Tax ( GST ) regime in India provides businesses with the advantage of claiming Input Tax Credit ( ITC
*******Unlocking GST: E-way bill not found in the case of Import of goods transportation
Clipped from: https://www.taxscan.in/unlocking-gst-understanding-the-e-way-bill-requirement-for-imported-goods/489420/ GST is a destination-based tax on the consumption of goods and services. The Goods and Service Tax ( GST ) regime, introduced in
*******Availment of Both GST ITC and Depreciation on Capital Goods: Here’s How to Draft Reply to GST Notice [Find Format Here]
Clipped from: https://www.taxscan.in/availment-of-both-gst-itc-and-depreciation-on-capital-goods-heres-how-to-draft-reply-to-gst-notice-find-format-here/442167/ The Goods and Services Tax ( GST ) regime in India aims to eliminate the cascading effect of taxes and promote a seamless
*******S. 128A GST Penalty and Interest Waiver: Find Draft Format Here
Clipped from: https://www.taxscan.in/s-128a-gst-penalty-and-interest-waiver-find-draft-format-here/437607/ The Indian GST law continues to evolve, bringing forth provisions to ease the compliance burden on taxpayers. One such provision is Section 128A
*******Impact of Supplier Default on GST Input Tax Credit Reversal
Clipped from: https://www.taxscan.in/supplier-default-gst-itc-reversal-what-businesses-need-to-know/452691/ In India, the Goods and Services Tax ( GST ) system provides a mechanism for businesses to claim Input Tax Credit ( ITC
*******SCN on Fake InvoiceSCN on Fake Invoices & Non-Existent Businesses: Find Draft Reply Format Heres & Non-Existent Businesses: Find Draft Reply Format Here
Clipped from: https://www.taxscan.in/the-issue-of-fake-invoices-and-non-existent-businesses-legal-and-practical-considerations/491461/ The discussed issue is a common occurrence since the implementation of the Goods and Services Tax in 2017. By Avinash Kurungot – On February 21, 2025
*******Provisional Bank Attachments Under GST: How to Draft Reply Notice
Clipped from: https://www.taxscan.in/legality-of-provisional-bank-attachments-under-gst-how-to-draft-reply-notice/491124/ The Goods and Service Tax ( GST ) was introduced in India for multiple assessment provisions. Tax collection and enforcement mechanisms. The provisional
*******Impact of Recent Tax Reforms on MSMEs In India: Challenges & Growth
Clipped from: https://taxguru.in/goods-and-service-tax/impact-tax-reforms-msmes-india-challenges-growth.html Introduction to MSMEs[1] Micro, small, and medium enterprises (MSMEs) are a vital component of India’s economy, contributing significantly to employment generation, innovation, and
*******Tax calculation: Here’s a capital gains tax hack on how to use losses smartly to lower your FY26 tax outgo – Tax calculation: Here’s a capital gains tax hack on how to use losses smartly to lower your FY26 tax outgo BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-calculation-heres-a-capital-gains-tax-hack-on-how-to-use-losses-smartly-to-lower-your-fy26-tax-outgo-475774-2025-05-10 The Income-tax Act of 1961 outlines set guidelines for offsetting capital gains and losses. This enables taxpayers to deduct losses from gains effectively,
*******Why Trump’s ‘weak dollar’ plan misreads America’s trade deficit | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/why-trump-s-weak-dollar-plan-misreads-america-s-trade-deficit-125050901653_1.html The global demand for dollars, the argument goes, drives up its value, making US-made goods more expensive than imports While the dollar’s reserve-currency
*******ITR Filing 2025: Common mistakes that can cost you big – Money News | The Financial Express
lipped from: https://www.financialexpress.com/money/itr-filing-2025-common-mistakes-that-could-cost-you-big-3839675/ With ITR forms for FY 2024-25 already available, now is the ideal time to prepare and avoid last-minute mistakes. As the July 31
?*******ITR-4 (Sugam) decoded: Who can file, what’s new for AY 2025–26 — check details – ITR 4 (Sugam) decoded: Who can file, what’s new for AY 2025–26 check details BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-4-sugam-decoded-who-can-file-whats-new-for-ay-2025-26-check-details-475268-2025-05-08 A major update for AY 2025–26 is that taxpayers with long-term capital gains of up to Rs 1.25 lakh can now also use
*******ITR filing 2025: Choosing old tax regime? Form 10-IEA is mandatory — check details – ITR filing 2025: Choosing old tax regime? Form 10 IEA is mandatory check details BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-filing-2025-choosing-old-tax-regime-form-10-iea-is-mandatory-check-details-475686-2025-05-10 When filing income tax returns for FY 2024-25 (AY 2025-26), salaried individuals, professionals, and pensioners must choose between the New and Old Tax
*******Filing your taxes for FY25? Here’s how to pick the right ITR form based on your income type – Filing your taxes for FY25? Here’s how to pick the right ITR form based on your income type BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/tax-filing-2025-how-itr-form-1-is-different-from-itr-form-3-or-itr-form-5-how-can-make-the-right-choice-475697-2025-05-10 Taxpayers can now file their returns for FY 2024–25 using the latest ITR forms notified by the Income Tax Department. Forms ITR-1 to