26 Apr, 2025
Introduction: The confirmation of service tax demand can often catch taxpayers off-guard, especially when legal battles stretch across multiple years. A recent decision by CESTAT (reported in 2025 TAXSCAN (CESTAT) 436) offers critical lessons on how remand orders can limit appeal rights and lead to penalty confirmations. What Happened in This Case? Why Did CESTAT […]
Read More26 Apr, 2025
Introduction: Statutory reporting for international transactions is a critical compliance requirement for Indian taxpayers engaged in cross-border dealings. With the Income Tax Bill, 2025 introducing Clause 172, there are important changes compared to the earlier Section 92E of the Income-tax Act, 1961. Let’s decode the latest updates in simple terms. What Was Section 92E of […]
Read More26 Apr, 2025
India’s RRB Landscape Is Changing Fast The Finance Ministry has approved the merger of 15 Regional Rural Banks (RRBs) across 11 states, effective May 1, 2025. This major reform falls under the One State-One RRB policy, aimed at boosting operational efficiency, cutting costs, and strengthening rural banking. Post-merger, the total number of RRBs in India […]
Read More26 Apr, 2025
Introduction Harmonizing India’s secondary adjustment regime is crucial for ensuring fair international transactions. Clause 170 of the Income Tax Bill, 2025, proposes a significant shift from the existing Section 92CE of the Income-tax Act, 1961. Let’s break it down simply for Indian taxpayers and professionals. Clause 170 vs Section 92CE: Key Differences Point Section 92CE […]
Read More26 Apr, 2025
Recovery of Excess ITC by Proper Officer: Explained When an Input Service Distributor (ISD) wrongly distributes excess Input Tax Credit (ITC), Section 21 of the CGST Act, 2017 kicks in. The burden of recovery shifts not to the ISD but directly to the recipient units. However, the ground reality is far more complex. Circular No. […]
Read More26 Apr, 2025
Introduction Streamlining APA and Transfer Pricing has become crucial under the evolving Indian tax regime. Clause 169 of the Income Tax Bill, 2025 proposes significant changes to Section 92CD of the Income-tax Act, 1961. This aims to reduce disputes and simplify compliance for taxpayers entering Advance Pricing Agreements (APA). Key Points: What Changes Does Clause […]
Read More26 Apr, 2025
India’s Net Direct Tax Collections Surge 13.57%: What It Means for You Net direct tax collections for Financial Year 2024-25 (FY25) have jumped by 13.57% compared to the previous year, as per official data released by the Central Board of Direct Taxes (CBDT). This marks a strong trend towards economic recovery, greater compliance, and improved […]
Read More25 Apr, 2025
India’s Forex Reserves Rise to $686.15 Billion: Key Tax and Policy Implications India’s forex reserves jumped by $8.31 billion, reaching $686.15 billion as of April 18, 2025, according to the latest data from the RBI. This surge signals macroeconomic strength, but what does it mean for taxpayers, importers, and policy direction? What are Forex Reserves? […]
Read More25 Apr, 2025
TCS on Luxury Purchases: What Indian Buyers Must Know in FY 2025-26 The Income Tax Department has widened the tax net with Tax Collected at Source (TCS) now covering more high-value transactions. From luxury foreign tours to expensive jewellery and cars, Indian taxpayers need to factor in TCS while making big purchases. Let’s break down […]
Read More25 Apr, 2025
India-US Trade Deal Talks: What It Means for E-commerce, Crops, and Data Storage The India-US trade relationship is heating up again. In fresh discussions reported by Bloomberg News, the United States is seeking major concessions from India — especially in e-commerce regulations, agricultural exports, and data storage policies. For Indian businesses and professionals, these talks […]
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