20 Jun, 2025
Fake Billing Scam What Happened in Lakhipur? A recent fake billing scam has shaken Assam’s business community. The GST Intelligence team arrested a Lakhipur-based businessman for creating bogus invoices worth ₹25 crore to illegally claim Input Tax Credit (ITC). Fake billing scams drain government revenue and expose genuine businesses to scrutiny. Here’s what you need […]
Read More20 Jun, 2025
Introduction No Export But Claim GST Refund is the latest GST scam making headlines in Jaigaon, West Bengal. Local traders allegedly faked exports to Bhutan to claim illegal GST refunds. This blog explains how the fraud works, what the law says, and how businesses can stay compliant. How Did Jaigaon Traders Fake Bhutan Exports? Legal […]
Read More20 Jun, 2025
GST Council Meeting July 2025 What to Expect? The GST Council Meeting July 2025 is likely to be scheduled ahead of the Monsoon Session of Parliament. This comes at a crucial time when industry bodies are demanding rate rationalisation and clarification on recent GST amendments. Let’s break down what taxpayers, consultants, and businesses should know. […]
Read More20 Jun, 2025
India’s real GDP growth for 2025-26 is forecasted to exceed 6.5% by leading rating agency ICRA. This optimistic outlook signals steady recovery, robust domestic demand, and resilience in key sectors despite global uncertainties. Key Highlights of ICRA’s Real GDP Projection Factors Behind India’s Real GDP Growth for 2025-26 1️⃣ Robust Government Spending 2️⃣ Resilient Private […]
Read More20 Jun, 2025
Intro Paragraph: Understanding GST on restaurant bills is crucial for both diners and food businesses in India. The GST Council and CBIC issue frequent clarifications on tax rates, input credits, and special premises conditions. This blog breaks it down simply so you never overpay or undercharge. GST on Restaurant Bills: The Basics Reference: CBIC Notification […]
Read More20 Jun, 2025
GST Evasion FY24 FM Flags ₹34,000 Cr, CBIC Gets Directive Over ₹34,000 crore in GST evasion detected in FY24 — but recoveries lag behind. The Finance Ministry’s recent conclave brought sharp focus on plugging this enforcement gap, issuing strict directions to CBIC. Here’s what every taxpayer and consultant must know. What Happened at the Conclave? […]
Read More20 Jun, 2025
Introduction NRI tax credit and DTAA are crucial tools for NRIs to prevent double taxation. Before you file your Indian Income Tax Return (ITR), it’s important to understand how the Foreign Tax Credit (FTC) works and how Double Taxation Avoidance Agreements (DTAA) offer relief. This guide explains the basics, practical steps, and recent updates so […]
Read More20 Jun, 2025
Personal Liability in Liquidation: Understand Clause 322 vs. Section 178. Protect directors & liquidators from tax risks. Updated insights for 2025. Personal Liability in Liquidation: Clause 322 vs. Section 178 When a company shuts down, unpaid tax dues don’t disappear. Personal liability in liquidation decides whether directors and liquidators pay from their own pockets. The […]
Read More20 Jun, 2025
Intro Paragraph Time Limit for Bill of Entry is crucial for importers claiming input tax credit (ITC) under GST. The CBIC has clarified that the new 30-day condition under Section 16(4) applies to import invoices too. Missing this deadline can lead to ITC denial. Let’s decode what this means. What is a Bill of Entry? […]
Read More20 Jun, 2025
GST Registration Cancellation What Happened? GST Registration Cancellation has become a common issue for many small businesses and professionals in India. In a recent case, the High Court set aside the cancellation order because the tax officer failed to serve a physical show cause notice, violating principles of natural justice. Key Facts of the Case […]
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