Tag: tax
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The 1 % Cash‑Payment Rule under GST (Rule 86B) – A 360° Guide for 2025
1 Backdrop – Why was Rule 86B born? Within three years of GST’s launch, the tax administration was battling an epidemic of fake‑invoice networks that generated paper credits with no underlying supply.…
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Compulsory GST RCM on Rent
Introduction In a significant move, the Goods and Services Tax (GST) regime has introduced compulsory Reverse Charge Mechanism (RCM) on renting of commercial property under certain conditions. As per Notification…
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GST on Foreign AI & Cloud-Based Subscriptions
(ChatGPT, Grok, Midjourney, Canva Pro, Microsoft 365, Slack, GitHub Copilot & more) 1. Why this matters Indian companies—from boutique CA firms analysing data with ChatGPT to SaaS start-ups designing UI…
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Understanding GSTR-1A Filing: A Complete Guide
GSTR-1A is back in action, and it’s one of the most important tools businesses must understand to avoid mismatches between outward supply returns (GSTR-1) and summary returns (GSTR-3B). Starting July…
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Mandatory Investment Compliance for Trusts under Section11(5) – Complete Guide
Charitable and religious trusts in India enjoy significant tax exemptions under Section 11 of the Income-Tax Act. However, these benefits come with strict compliance requirements regarding how their funds are…
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Income Tax Bill 2025 Passed in Lok Sabha — New Tax Law Effective April 1, 2026
In a landmark move, the Lok Sabha has passed the Income Tax Bill, 2025, paving the way for a complete overhaul of India’s income tax framework. This new law will…
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India’s Net Direct Tax Collections Drop 4% Despite Budget Tax Reforms: What It Means for You
The Headlines That Caught Everyone’s EyeIn a surprising twist, India’s net direct tax collections for the period April 1 to August 11, 2025 have slipped by 4% year-on-year — despite…
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GST Late Fee in September 2025: Update
Table of Contents 1. Introduction Timely filing of GST returns is one of the most important compliance requirements for businesses in India. Many small businesses delay filing due to cash…
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