09 Jul, 2025
Can Penalty Be Imposed When GST Is Paid? Madras HC Says Yes — But Offers Relief In a recent case, the Madras High Court ruled that penalty under GST can still be imposed even if the tax has already been paid. However, the Court also showed leniency by allowing the petitioner 15 more days to […]
Read More09 Jul, 2025
IntroductionUnderstanding income tax rates in different countries helps individuals, startups, and global businesses plan better. Whether you’re considering relocation, working abroad, or benchmarking India’s tax system — comparing global tax rates gives useful perspective. In this blog, we simplify 2025 tax slabs in India and 10 other major countries. Why Global Tax Rate Comparison Matters […]
Read More09 Jul, 2025
India’s Income Tax Demand Hits ₹42 Lakh Crore: What It Means for You As of October 2024, India’s outstanding income tax demand has ballooned to ₹42 lakh crore—quadrupling from ₹10 lakh crore in 2020. The Income Tax Department has set a recovery target of ₹27 lakh crore this year, which is nearly equivalent to the […]
Read More09 Jul, 2025
Tax Audit & Presumptive Scheme AY 2025-26: What’s New? Tax audit applicability and presumptive scheme for AY 2025-26 have undergone significant changes over the years—especially after AY 2017–18. If you’re a small business owner, professional, or transporter, you need to know how Sections 44AB, 44AD, 44ADA, and 44AE apply today. With ITR filing deadlines approaching, […]
Read More09 Jul, 2025
Refund Limitation Period Starts from Conciliation Agreement Date Under GST, claiming a refund is time-sensitive. The Delhi High Court has clarified that the refund limitation period begins only when the excess tax quantum is crystallised, not from the original payment date. This is a significant relief for businesses resolving disputes through conciliation. Let’s break it […]
Read More09 Jul, 2025
GST demand on Go Digit set aside: Bombay High Court’s ruling explained The Bombay High Court has set aside a ₹170 crore GST demand raised on Go Digit General Insurance Ltd. The court cited serious procedural lapses, including violation of natural justice, and has ordered a fresh hearing. Let’s break down the key legal and […]
Read More09 Jul, 2025
IntroductionThe demand for 5% GST on J&K handicrafts has gained momentum, with both the J&K government and local businesses urging the GST Council to lower the current tax rate. This move could significantly impact artisans, exporters, and compliance norms under Indian GST law. Why Is There a Push for 5% GST on J&K Handicrafts? Jammu […]
Read More09 Jul, 2025
GST on Free Drug Samples: What Pharma Needs to Know GST on free drug samples has long troubled Indian pharmaceutical companies. While these samples are essential for marketing, GST authorities have treated them as “supply without consideration,” making them taxable under Section 7 of the CGST Act. But a new relief may finally be on […]
Read More08 Jul, 2025
SEBI Order on Mehul Choksi: What It Means for Tax & Compliance in India The Securities and Exchange Board of India (SEBI) recently directed Indian banks and mutual funds to remit attached assets worth ₹2.13 crore belonging to fugitive Mehul Choksi. The move follows Belgium confirming his presence in their jurisdiction — a crucial development […]
Read More08 Jul, 2025
No Penalty Under Rule 26 for Honest Revision: Legal Clarity for Taxpayers If an excise officer revises a return in good faith, without any evidence of collusion or fraud, no penalty can be imposed under Rule 26 of the Central Excise Rules, 2002. This key principle was reinforced in a recent Customs, Excise and Service […]
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