In response to the rising volume of complaints regarding unjustified rejections and delays in GST registration, the Central Board of Indirect Taxes and Customs (CBIC) issued Instruction No. 03/2025-GST, dated 17th April 2025. This advisory revamps the registration verification process under FORM GST REG-01, ensuring
Navigating the GST regime can be complex, especially for small taxpayers aiming to minimize compliance burdens and tax liability. The GST Composition Scheme offers a simplified framework for eligible businesses, allowing them to pay tax at a fixed rate on turnover while avoiding the complications of regular GST filings.
In a significant compliance update, the Ministry of Finance, through Notification No. 25/2024-Central Tax dated 09th October 2024, has amended Notification No. 50/2018-Central Tax dated 13th September 2018. This amendment specifically targets
The Micro, Small, and Medium Enterprises (MSME) sector is the backbone of India’s economic framework, contributing to employment, innovation, and GDP growth. Recognizing the financial vulnerability of these enterprises, the Indian government has taken multiple legislative steps to ensure timely payments to MSMEs.
Capital markets remain a dominant investment arena, especially for individuals and HNIs seeking returns from equity shares. But with gains come tax implications. The Income Tax Act, 1961, lays down
Navigating the complex matrix of Income Tax Return (ITR) forms in India has never been more important than in Assessment Year (AY) 2025–26. With evolving tax structures, dual tax regimes, and increasing digitization of compliance processes, selecting the correct ITR form isn’t merely a procedural step—it is
Cryptocurrency taxation in India has become a crucial topic for investors, traders, and businesses. With the introduction of Section 115BBH of the Income Tax Act, 1961, the government has imposed a flat 30% tax on virtual digital assets (VDAs) like Bitcoin, Ethereum, and other cryptocurrencies. Additionally, a 1% TDS under Section 194S has
Since the implementation of Goods and Services Tax (GST) in India, the treatment of second-hand goods, including used cars, has raised various interpretational and practical concerns. The government has made conscious efforts to ease the tax burden on
In the dynamic business world, restructuring transactions are common, and slump sale has emerged as a prominent method of transferring business undertakings. It enables business owners to sell entire business divisions without assigning individual values to
Turnover is a fundamental concept under Goods and Services Tax (GST) law in India. It determines key compliance requirements, including registration, tax liability, return filing obligations, eligibility for schemes, and audit applicability. Incorrect calculation of turnover
