25 Jul, 2025
CBDT Notification Enables Tax Benefits Under Section 35 The Central Board of Direct Taxes (CBDT) has approved Gitarthganga Trust and IQRAA International Hospital & Research Centre for tax benefits under Section 35(1)(iii) of the Income-tax Act, 1961. This move allows donors to claim 100% deduction for contributions made to these institutions for scientific research and […]
Read More25 Jul, 2025
CBIC Clarifies DFIA Input Correlation Rules Under FTP 2023 The DFIA correlation rule under the Foreign Trade Policy 2023 has now been clarified by CBIC. As per CBIC Circular No. 13/2024-Customs dated 10th July 2024, the requirement to establish a clear correlation between inputs imported and the exported goods applies only to items listed in […]
Read More25 Jul, 2025
Refund of Service Tax on Ocean Freight: Current Status The refund of service tax on ocean freight is currently stayed, as the Supreme Court is yet to pronounce its final verdict on the constitutional validity of the levy. For many importers who paid service tax under protest between 2017 and 2020, this stay has put […]
Read More25 Jul, 2025
Intro:Understanding the types of invoices under GST is essential for any Indian business. Whether you’re claiming input tax credit (ITC), dealing with exports, or raising bills under reverse charge, using the correct invoice is a legal must — and your best defence in a GST audit. 📌 Why Knowing the Right GST Invoice Matters Choosing […]
Read More25 Jul, 2025
Electronic Data Without Section 36B Not Valid for Excise Demand In a recent case, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) clarified that electronic data without Section 36B certification and statements recorded without complying with Section 9D of the Central Excise Act, 1944 cannot be used as the sole basis for raising an […]
Read More25 Jul, 2025
No GST on UPI Transactions Above ₹2,000: What You Should Know The question of GST on UPI transactions above ₹2,000 created buzz recently. But let’s clear the air—there’s no GST levied on UPI payments, whether above or below ₹2,000, when it’s a money transfer and not linked to a taxable supply. Here’s what the government […]
Read More25 Jul, 2025
CA Certificate Ignored: Why Section 74 GST Demand Was Set Aside In a key ruling, a High Court quashed GST proceedings under Section 74 for being mechanical and non-application of mind. The taxpayer had submitted a Chartered Accountant’s certificate to justify input tax credit (ITC), but the department issued demand without verifying the documents—violating principles […]
Read More25 Jul, 2025
GST Compensation: Centre Clears Most Dues, New System Likely The GST compensation dues saga may be nearing closure. As per reports from official sources, the Central Government has settled pending compensation for all states—except for two where the figures are yet to be verified. Simultaneously, a new mechanism for compensation payout is being reviewed to […]
Read More25 Jul, 2025
AI to Curb Tax Evasion in Granite Quarries: Tax Dept Targets Palnadu The Income Tax Department has launched a tech-driven crackdown in Palnadu district of Andhra Pradesh, using AI to curb tax evasion in granite quarries. These efforts come amid rising concerns about large-scale tax leakage and unaccounted mining revenues in the region. Why Palnadu’s […]
Read More25 Jul, 2025
Goa GST Revenue Unaffected by Corporate Billing Shift Goa Chief Minister Dr. Pramod Sawant has clarified that the state faces no GST revenue loss despite companies billing from other states like Maharashtra or Karnataka. This comes after concerns were raised about corporate head offices moving their billing addresses outside Goa. Let’s break down the issue, […]
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