11 Jun, 2025
GSTR-1 Due Date for May 2025 Final Reminder for Monthly Filers If you’re a monthly GST filer, the GSTR-1 due date for May 2025 is today — 11th June 2025. The deadline is critical for businesses not under the QRMP scheme. Delays attract late fees and can disrupt compliance status. Who Needs to File GSTR-1 […]
Read More11 Jun, 2025
ITR-1 Filing Who Should Use SAHAJ Form? ITR-1 filing is the most commonly used return form by individual taxpayers in India. But not everyone can file ITR-1 (SAHAJ) — the form has specific eligibility conditions and exclusions. In this blog, we’ll explain in simple terms: Let’s simplify tax filing — one form at a time. […]
Read More11 Jun, 2025
GSTN Fixes Refund Filing Issue for QRMP Taxpayers QRMP refund filing just got easier. The GSTN has resolved the validation glitch that previously blocked refund applications where only GSTR-3B filings were involved. This fix ensures that taxpayers under the QRMP scheme can now successfully claim refunds—as long as all GSTR-3B returns are filed. Let’s break […]
Read More11 Jun, 2025
GSTR-1 HSN Summary Clarified What B2B and B2C Suppliers Must Know In a recent clarification, GSTN and CBIC have updated the GSTR-1 HSN summary requirements. The update mandates reporting HSN details for B2B supplies in Table 12, while offering relief to small B2C suppliers. Here’s a simplified breakdown of what these changes mean for taxpayers. […]
Read More11 Jun, 2025
Tax Evasion a National Crime CM Calls for Stern Action Against Fake Firms Chief Ministers across India are now taking a bold stance: tax evasion is not just a financial fraud—it’s a national crime. Recently, a Chief Minister strongly urged the Centre and enforcement agencies to intensify action against fake firms that manipulate GST and […]
Read More11 Jun, 2025
GST on Medicines and Tractors The 12% Slab Debate India’s long-awaited GST slab rationalisation faces new hurdles—this time from essential sectors. While there’s consensus on trimming the current four-rate structure, medicines and tractors have emerged as bottlenecks to scrapping the 12% GST slab altogether. Let’s decode what’s happening and what it means for Indian taxpayers […]
Read More11 Jun, 2025
SEZ Land Norms Relaxed for Semiconductor & Electronics Parks In a major push for ‘Make in India’ and electronics manufacturing, the Indian government has notified key SEZ land reforms aimed at easing entry barriers for semiconductor and electronics units. As per the latest amendment to SEZ Rules, 2006 (via Notification No. GSR 383(E) dated 7th […]
Read More11 Jun, 2025
Massive DRI Customs Seizure in Manipur Drugs and Cash Worth ₹55.52 Crore In a major crackdown on illegal trafficking, a joint team of DRI, Customs, Assam Rifles, and Manipur Police seized drugs and cash worth ₹55.52 crore during a coordinated operation in Manipur. The high-value seizure marks one of the biggest enforcement actions in the […]
Read More11 Jun, 2025
NPA Interest Tax Relief What Are Banks Proposing? Banks have urged the government to reconsider the taxability of interest income on NPAs (Non-Performing Assets), which is currently taxed on an accrual basis in many cases—despite no actual receipt. This proposal, reportedly under CBDT review in June 2025, could ease the tax burden on banks and […]
Read More10 Jun, 2025
FTA Clarifies VAT on Imported Services What Indian Exporters Must Know Introduction For Indian exporters and service providers operating across borders, this clarification provides clarity on when VAT becomes applicable and who must account for it under the reverse charge mechanism. Here’s a simplified breakdown of the key takeaways and compliance implications. What Does the […]
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