Reverse Charge Mechanism in GST: A Comprehensive Guide
Introduction - What is Reverse Charge Mechanism (RCM) in GST? The Reverse Charge Mechanism (RCM) is a crucial provision in the Indian Goods and Services Tax (GST) law. It transfers…
What triggers a tax investigation, and what can TaxMan do if taxpayer doesn’t cooperate?
Triggers of a Tax Investigation A tax investigation is generally triggered when the tax authorities suspect tax evasion or non-compliance. Some of the common reasons that may raise suspicion and…
RBI Guidelines on Digital Lending App & Lending service provider
RBI/2022-23/111DOR.CRE.REC.66/21.07.001/2022-23 September 02, 2022 All Commercial Banks,Primary (Urban) Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks; andNon-Banking Financial Companies (including Housing Finance Companies) Madam/ Sir, Guidelines on Digital Lending A…
Query – What is GSTR1A? How and when to file form GSTR 1A?
Answer - A taxpayer who needs to amend any supply record furnished in GSTR 1 or need to add any supply record of same tax period, the same can be…
Query – I filed ITR but on the last page I got to know I am not liable to get any refund and the amount payable is 31,420. Why should I file ITR? Kindly answer it with quoting relevant section under income tax law in india.
Ans - Filing your Income Tax Return (ITR) is mandatory or advisable even if you are not eligible for a refund and have a tax payable of ₹31,420, as it…
Mistake in ‘Disputed Tax’ and ‘Tax Arrears’ Can Be Rectified Under Vivad Se Vishwas Scheme: Delhi High Court
IntroductionThe Delhi High Court recently ruled that errors related to "disputed tax" and "tax arrears" under the Vivad Se Vishwas (VSV) Scheme can be corrected. If a relief was already…
Supreme Court directed to CBDT to take necessary steps for rectifying the software as far as excess surcharge is concern
ITEM NO.30 COURT NO.14 SECTION XIVSUPREM E COURT OF INDIA RECORD OF PROCEEDINGSPetition(s) for Special Leave to Appeal (C) No(s). 10305/2024(Arising out of impugned final judgment and order dated 28-02-2024…
Should You Redeem or Hold? 30 Sovereign Gold Bonds Eligible for Early Exit in 2024-2025
In the next six months, from October 2024 to March 2025, 30 Sovereign Gold Bonds (SGBs) will be eligible for redemption. Some of these bonds can be redeemed early because…
🇮🇳 Happy Independence Day to all my fellow citizens! 🇮🇳
🇮🇳 सभी देशवासियों को स्वतंत्रता दिवस की हार्दिक शुभकामनाएँ! 🇮🇳 आज हम अपने महान राष्ट्र की स्वतंत्रता, एकता और प्रगति की भावना का जश्न मना रहे हैं। आइए हम अपने…
MCA Imposes ₹2.16 Crore Penalty on Stanley Black & Decker for CSR Compliance Failure
The Ministry of Corporate Affairs (MCA) recently imposed a hefty penalty of ₹2.16 crore on Stanley Black & Decker India Private Limited for failing to transfer unspent Corporate Social Responsibility…