Receiving a GST notice is more than just an administrative inconvenience—it’s often the first signal that your compliance processes are under scrutiny. Among the most consequential provisions in the GST regime are Section 73 and 74 of the CGST Act, 2017. These two sections
The GST law in India is continuously evolving. With every change, compliance expectations shift, and businesses must adapt. The 53rd GST Council Meeting held on 22nd June 2024 has introduced significant amendments, particularly the insertion of a new Section 74A along with refinements in Sections 73 and 74 of the
Since the inception of GST in July 2017, businesses have faced challenges, including the inadvertent claiming of Input Tax Credit (ITC) under the wrong tax heads. If you’ve mistakenly claimed IGST instead of CGST-SGST/UTGST (or vice versa), no need
In a significant move toward tightening Input Tax Credit (ITC) regulations and ensuring transparency in GST compliance, the Finance Bill, 2025 has introduced a crucial amendment to Section 34(2) of the Central Goods and Services Tax Act, 2017 (CGST Act). Effective from 1st April 2025, this change directly impacts
The GST ecosystem in India is evolving once again, this time with a decisive shift towards standardization, automation, and stringent data reporting. Effective from 1st April 2025, businesses and professionals will face two critical changes in GST returns:
As the financial year 2024-25 draws to a close, businesses including manufacturers, traders, service providers, and GST consultants, must ensure that all GST obligations are properly fulfilled. A well-planned year-end GST checklist is essential to
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
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
