New GST rules requiring precise bank account details pose a risk of automatic suspension for businesses, with small firms most vulnerable to disruptions and delays in filing and input tax credits. For many businesses, GST compliance now depends on more…
The Supreme Court has ruled that banks can use the SARFAESI Act to recover non-performing loans acquired from non-banking financial companies, even if the original loans predate the lenders’ coverage under the law, marking a significant shift in enforcement practices.…
The Delhi Income Tax Appellate Tribunal has clarified that when alleged bogus transactions are matched by sales, only the embedded profit, not the entire purchase value, should be taxed, setting a new precedent in tax assessment practices. The Delhi Income…
Salaried workers earning income from platforms like Instagram and YouTube face new complexities as tax rules differentiate between salary and side-hustle incomes, offering simplified presumptive schemes but demanding careful compliance. For salaried workers who also earn money from Instagram, YouTube…
The Employees’ Provident Fund Organisation has opened a limited-time digital window for employers to correct past EPF enrolment omissions, offering an avenue to include eligible workers while simplifying the process and waiving employee contributions for missed periods. The Employees’ Provident…
Central Goods and Services Tax (CGST) plays a pivotal role in India’s tax system by streamlining intra-state transactions. This explainer delves into its structure, functionality, and importance for business compliance post-2017 reforms. Central Goods and Services Tax, or CGST, is…
India Post is promoting its Rural Postal Life Insurance scheme in Firozabad as an affordable way for rural households to build savings and secure long-term life cover, with options tailored for different age groups and flexible payment plans. India Post’s…
A GST Appellate Tribunal has emphasised the necessity of invoice-specific verification prior to denying input tax credit due to discrepancies between GSTR-3B and GSTR-2A, highlighting procedural lapses and the importance of a proper hearing in tax adjudication. A GST Appellate…
The Employees’ Provident Fund Organisation prepares for a major updates with EPFO 3.0, promising faster and easier withdrawals via UPI and EPF-linked ATMs, although the rollout is phased and not yet nationwide. EPFO 3.0 is being positioned as a major…
Investors in the 2019-20 Series IV Sovereign Gold Bonds are approaching a crucial early-exit window on 17 September 2026, with rising gold prices potentially unlocking substantial gains , but tax rule changes could impact final returns. Investors who bought the…
Indian subsidiaries often believe that timely Form 3CEB submissions shield them from transfer pricing scrutiny, but experts warn that weaknesses in documentation, transaction mapping, and method selection can lead to audits and disputes despite compliance efforts. Indian subsidiaries of multinational…
The Gujarat High Court has clarified that reassessment notices relying on third-party seized documents require a direct, live link to the taxpayer; cases highlight the importance of specific nexus over suspicion in tax assessments. The Gujarat High Court has reinforced…
