Tag: tax
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Coercion in GST: How to Protect Your Taxpayer Rights
Introduction The implementation of the Goods and Services Tax (GST) in India was a landmark reform aimed at unifying the indirect tax regime and removing the cascading effect of taxes.…
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Income Tax – Waiver of Interest – Circular No. 5/2025
Introduction On March 28, 2025, the Central Board of Direct Taxes (CBDT) issued Circular No. 5/2025, providing guidelines for the waiver of interest levied under Sections 201(1A)(ii) and 206C(7) of…
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Blocked Credit Under Section 17(5) of CGST Act, 2017
What is Section 17(5) of CGST Act? Section 17(5) of the Central Goods and Services Tax (CGST) Act, 2017 restricts the availability of Input Tax Credit (ITC) in certain cases, even if…
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Reverse Charge Mechanism (RCM) under GST: A Comprehensive Guide
Table of Contents 1. What is Reverse Charge Mechanism? In the regular GST framework, the supplier is liable to collect and deposit the tax with the government. However, in certain…
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Key GST Compliance Updates from April 1, 2025: GSTR-7 Sequential Filing and Refund Rule Amendments
1. Mandatory Sequential Filing of GSTR-7: A Procedural Reinforcement for TDS Deductors Background: Section 51 of the CGST Act, 2017 mandates TDS deduction under GST by notified persons (primarily Government…
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Recent Amendments to GST Refund Eligibility and Appeal Procedures: Implications for Taxpayers
Introduction On March 27, 2025, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 11/2025–Central Tax, introducing pivotal amendments to the Central Goods and Services Tax (CGST) Rules,…
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Last Call for Taxpayers under DTVSV 2024
🔍 Introduction On April 8, 2025, the Central Board of Direct Taxes (CBDT) issued Notification No. 32/2025 [S.O. 1650(E)], exercising powers under Section 89(1)(l) of the Finance (No. 2) Act,…
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Why F&O Traders Are Getting GST Notices for FY 2023-24: Understanding Your Tax Obligations
Introduction In recent months, thousands of Futures and Options (F&O) traders across India have been receiving GST notices for FY 2023-24, creating significant anxiety in the trading community. These notices…
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Understanding Section 128A of the CGST Act: Key Updates and Implications for Taxpayers
In recent months, the Central Board of Indirect Taxes and Customs (CBIC) has introduced pivotal updates regarding Section 128A of the Central Goods and Services Tax (CGST) Act, 2017. Aimed…
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New HSN Code Validation Requirements in GSTR-1 from May 2025: What Taxpayers Need to Know!
Introduction The Goods and Services Tax (GST) authorities in India have announced significant changes to how businesses must report Harmonized System of Nomenclature (HSN) codes in their GSTR-1 returns. Effective…
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