02 May, 2025
Intro Paragraph:ITC refund issues often confuse businesses offering both goods and services. A recent Andhra Pradesh High Court ruling clarifies that the absence of service details in a GST registration certificate does not disqualify a taxpayer from claiming refunds on zero-rated service exports. What Was the Case About? Alstom Transport India Ltd., initially registered under […]
Read More02 May, 2025
Can Manufacturers Claim Both Input and Output Tax Benefits? Yes, says the High Court — and this is a relief for Indian exporters. In a significant judgment, the Delhi High Court ruled that manufacturers/exporters are entitled to claim both input-side and output-side tax benefits under Indian tax law, as long as there is no double […]
Read More30 Apr, 2025
Orissa High Court has ruled that individual lawyers are exempt from GST on legal services, quashing notices demanding tax from a Bhubaneswar advocate. This aligns with existing exemptions for legal professionals under GST and service tax laws. GST Exemption for Lawyers: What the Orissa High Court Just Clarified If you’re an individual legal practitioner in […]
Read More30 Apr, 2025
Aligning Export Policy with Finance Act 2025: What It Means for Indian Exporters The Directorate General of Foreign Trade (DGFT) has invited inputs from stakeholders on aligning India’s Export Policy with the recently passed Finance Act, 2025. This development signals important changes ahead—especially for exporters, customs consultants, and international traders relying on DGFT notifications and […]
Read More30 Apr, 2025
Income Tax Return Forms AY 2025-26: What CBDT Changed The CBDT has notified new ITR forms for AY 2025-26 via Notification No. 40/2025 dated 24 April 2025. These revised ITR-1 and ITR-4 forms apply from 1st April 2025 and will impact millions of taxpayers during the current return filing season. ✅ What’s New in ITR-1 […]
Read More30 Apr, 2025
IntroductionGST show cause notice validity just got a crucial update. In a significant ruling, the Delhi High Court held that uploading a Show Cause Notice (SCN) only under the ‘Additional Notices and Orders’ tab on the GST portal is not proper service under the law. This decision affects lakhs of taxpayers and reassesses how notices […]
Read More30 Apr, 2025
Understanding Tax on Income Found in IT Searches (Clause 192 vs Section 113) Earlier, Section 113 of the Income-tax Act, 1961 governed such cases. Now, Clause 192 of the Income Tax Bill, 2025 proposes a new computation method. Here’s a simple breakdown of what’s changing, and how it affects you. Clause 192 (Bill 2025) vs […]
Read More30 Apr, 2025
Guarantor’s Insolvency Petition Fails: NCLAT Clarifies Section 94 Scope In a crucial ruling, the National Company Law Appellate Tribunal (NCLAT) dismissed a Section 94 insolvency petition filed by a personal guarantor, calling it a tactical misuse to stall debt recovery. This decision sets a clear precedent against strategic delays under the Insolvency and Bankruptcy Code […]
Read More30 Apr, 2025
Long-Term Capital Gains Tax is undergoing a major shift under Clause 198 of the Income Tax Bill, 2025. This new clause aims to replace Section 112A of the Income-tax Act, 1961. Here’s a simplified breakdown of what changes, what remains, and how it impacts your equity investments. What Was Section 112A All About? Section 112A […]
Read More30 Apr, 2025
Capital Gains Tax Reform: Clause 197 vs Section 112 The focus keyphrase “capital gains tax reform” signals a major shift under the Income Tax Bill, 2025, particularly through Clause 197. This new clause is set to replace Section 112 of the 1961 Act, impacting how long-term capital gains (LTCG) are taxed in India. Let’s break […]
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