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 Introduction What Changed in September 2025? GST Return Due Dates to Remember Penalties and Late Fees Applicable How the ₹10,000 Fine Works Under Rule 59 Example of…
