To resolve these grievances and to smoothen GST registration process, CBIC has issued instructions on 17thย April, 2025 (Instruction No. 03/2025-GST) to the officers for processing GST registration applications. Officers have been instructed to strictly adhere…
It to inform that GSTN has implemented phase wise changes in Table-12 of GSTR-1 or GSTR-1A. For the same various advisories have been issued time to time, which are available on GST Portal. GSTN is…
GSTR-4 is required to be filed by composition dealers on an annual basis. Please note that the due date for filing GSTR-4 for FY 2024-25 is 30th of June 2025 and not 30th April 2025.…
The Standing Committee on Finance on Wednesday recommended that the Ministry of Finance should consider waiving GST on Members of Parliament Local Area Development Scheme (MPLADS) funds to allow for more impactful local development projects.…
The Input Service Distributor (ISD) mechanism under GST enables businesses with multiple branches to centrally receive and allocate input tax credit (ITC) related to common input services. As per Section 2(61) of the CGST Act,…
Advance tax, popularly known as 'pay-as-you-earn', is the practice of making periodic payments toward an estimated income tax liability. This system is mandatory for taxpayers whose estimated tax liability is equal to or exceeds INR…
But in reality, not everyone can apply for it. ๐ช๐ต๐ฎ๐ ๐ถ๐ ๐ฎ ๐๐ผ๐บ๐ฝ๐ผ๐๐ถ๐๐ถ๐ผ๐ป ๐ฆ๐ฐ๐ต๐ฒ๐บ๐ฒ? Scheme under GST for small businesses and startups to simplify compliance by paying tax at a fixed rate on their turnover…
Summary: Sections 69A and 69Bย of the Income Tax Act, 1961, address unexplained income, investments, and expenditures. Section 69A applies when an assessee possesses unexplained cash, bullion, or other valuable items not recorded in their books…