The Goods and Services Tax (GST) system in India, governed by the CGST Act, 2017, is designed to streamline the taxation process for businesses and ensure compliance. However, there are instances where tax is either short-paid, unpaid, or erroneously refunded, or input tax credit (ITC) is wrongly availed or utilized. Section 73 of the CGST […]
Understanding Section 73 of CGST Act: Key to Tax Compliance Read More »
Introduction India’s tax landscape is complex, and understanding the nuances of high-value cash transactions and income tax notices is crucial for individuals and businesses alike. In this guide, we’ll delve into the definition and implications of high-value cash transactions, reporting requirements, scrutiny by the Income Tax Department, and how to navigate income tax notices effectively.
Don’t Get Caught Off Guard! High-Value Cash Transactions & Tax Notices in India Read More »
Introduction: In a significant move towards transparency in political funding, the Supreme Court’s recent directive has paved the way for the disclosure of electoral bond details in India. This blog delves into the implications of this landmark decision and its impact on the country’s electoral landscape. I. Supreme Court’s Directive (March 19, 2024): The Supreme
