09 May, 2025
Can the Income Tax Department Raise Demand on a Deceased Person? If a taxpayer passes away, can tax proceedings still continue?A recent High Court ruling clarifies a critical point: you cannot fasten tax liability on a dead person without first notifying their legal representatives. This interpretation under Section 93 of the Income-tax Act offers major […]
Read More09 May, 2025
GST ITC fraud has once again taken centre stage as Delhi South CGST officials uncovered a scam worth ₹7.85 crore. The case involves the wrongful availing and passing of fake input tax credit (ITC) using bogus firms. What Happened in the ₹7.85 Crore GST ITC Scam? According to the official press release by CBIC, the […]
Read More09 May, 2025
Indian Accounting Standards Amendment Rules 2025: Key Changes Explained The Ministry of Corporate Affairs (MCA) has notified the Companies (Indian Accounting Standards) Amendment Rules, 2025, introducing updates to select Ind AS applicable to companies preparing financial statements as per Ind AS. Let’s break down what this amendment means for Indian companies and finance professionals. What […]
Read More09 May, 2025
GST Refund Process for Deemed Export Recipients Updated These changes simplify filing while tightening eligibility. This blog breaks down the revised rules, steps, and legal backing for Indian taxpayers and consultants. Examples include: Recipients (not suppliers) are eligible for claiming refunds of the GST paid. Key Updates in GST Refund for Deemed Exports 1. New […]
Read More09 May, 2025
GST Registration Process Simplified: Faster Approvals, Fewer Hurdles The GST Policy Wing has revamped the GST registration process with new timelines, biometric norms, and standardized instructions to improve ease of doing business while reducing fake registrations. As per Instruction No. 01/2024-GST dated 30.04.2024, issued by CBIC’s GST Policy Wing, a streamlined and legally consistent approach […]
Read More09 May, 2025
Export Norms for Di-Ethyl Phthalate Revised: What Indian Exporters Must Know In a key trade facilitation move, the Directorate General of Foreign Trade (DGFT) has updated the export norms for Di-Ethyl Phthalate. This revision directly affects the permissible input quantities for two key raw materials: Phthalic Anhydride and Ethanol. What Does the New DGFT Update […]
Read More09 May, 2025
SEBI Tightens Financial Disclosure Norms for InvITs In a move aimed at strengthening investor confidence and ensuring transparency, SEBI has overhauled financial reporting norms for Infrastructure Investment Trusts (InvITs). The updated disclosure requirements—announced via a regulatory circular dated May 6, 2025—introduce comprehensive and standardised reporting formats effective from April 1, 2025. These reforms are applicable […]
Read More09 May, 2025
High Court Rules: Unsigned GST Orders Are Invalid The term “Unsigned GST Orders” just got a major legal spotlight. A recent High Court decision has clarified that any GST order issued without a valid digital signature or manual signature is not legally enforceable. This judgment is crucial for businesses and tax professionals dealing with GST […]
Read More09 May, 2025
Why Are Millet Biscuits Taxed but Millet Powder Isn’t? India’s push for millets—dubbed Shree Anna—has made them a kitchen staple and a government priority. But when it comes to GST, not all millet-based products are treated equally. In this blog, we break down why GST on millet products like biscuits and powders varies, what the […]
Read More09 May, 2025
ITAT Confirms ₹54 Crore Tax Attachment in PWD Scam Case In a major development, the Income Tax Appellate Tribunal (ITAT) upheld a tax attachment of ₹54 crore in 900 accounts linked to Buldana Urban Co-operative Credit Society. The ITAT order reinforces the Income Tax Department’s power to freeze suspicious bank accounts pending investigation under Section […]
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