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
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*******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
*******Income Tax Return Filing: Complete ITR Form 1 Checklist for AY 2025-26
Clipped from: https://www.taxscan.in/income-tax-return-filing-complete-itr-form-checklist-for-ay/514406/?utm_source=signinbutton&utm_medium=txn&utm_campaign=checkoutsigninbtn For individual taxpayers with basic income sources, ITR Form 1 (Sahaj) is a one-page income tax return form. To make tax filing easier
*******SC Dismisses Reassessment Case for Non-Compliance with Section 148A
Clipped from: https://taxguru.in/income-tax/sc-dismisses-reassessment-case-non-compliance-section-148a.html ITO Vs R.K. Build Creations Private Limited (Supreme Court of India) The Supreme Court of India has dismissed a Special Leave Petition filed
*******ITR-3 form simplified for AY 2025-26: Taxpayers with business income, capital gains split must note new rules – ITR 3 form simplified for AY 2025 26: Taxpayers with business income, capital gains split must note new rules BusinessToday
Clipped from: https://www.businesstoday.in/personal-finance/tax/story/itr-3-form-simplified-for-ay-2025-26-taxpayers-with-business-income-capital-gains-split-must-note-new-rules-474550-2025-05-02 A key update in the ITR-3 form is a new schedule for reporting capital gains, allowing taxpayers to separately disclose gains accrued before
*******How Small Businesses can Optimize Tax Benefits under Income Tax Act 1961
Clipped from: https://taxguru.in/income-tax/small-businesses-optimize-tax-benefits-income-tax-act-1961.html In India, small businesses form the backbone of the economy, contributing significantly to GDP and employment. However, many small business owners often miss
*******What Documents Are Required for KYC? | List of Documents Required for KYC–Clear Tax
Clipped from: https://cleartax.in/s/documents-required-for-kyc Know Your Customer (KYC) is a compliance procedure initiated by the Reserve Bank of India (RBI). The primary purpose of this compliance is to assess the customer
*******Absence of cross-examination vitiates third-party statements: ITAT Nagpur
Clipped from: https://taxguru.in/income-tax/absence-cross-examination-vitiates-third-party-statements-itat-nagpur.html DCIT Vs Sanjay Gaurishankar Agrawal (ITAT Nagpur) 1. Facts of the Case 1.1 The assessee, Shri Sanjay Gaurishankar Agrawal, had received unsecured loans
*******GST Case Law Compendium- April Edition
Clipped from: https://taxguru.in/goods-and-service-tax/gst-case-law-compendium-april-edition.html The April 2025 GST Case Law Compendium reviews significant judicial pronouncements impacting taxpayers and tax administration. Recent court decisions address procedural requirements for
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