No ITC reversal is required when unsecured loans remain loans (not considered supplies). Under GST laws, Input Tax Credit reversal is mandated in cases where goods or services are used… Read More
Whether digital gift cards are Virtual Digital Assets ? Meaning of Virtual Digital Asset : Definition of VDA: Section 2(47A) of the Income Tax Act defines a VDA as any… Read More
FAQs related to Tax Residency Certificate: Do I need a Tax Residency Certificate to get tax treaty benefits, and can I be denied these benefits if I don't have a… Read More
The Section 87A Story : The Section 87A Mystery The changes in the interpretation of Section 87A, particularly regarding the New Tax Regime after July 5th, 2024, have indeed caused… Read More
CBDT notifies Rules & Forms for Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV, 2024). The Central Board of Direct Taxes (CBDT) has officially notified the rules and forms… Read More
Changes are set to take effect from 1st September 2024 Starting in September 2024, taxpayers in India will need to adjust their GST return filing practices due to significant changes… Read More
HSN(harmonized system of nomenclature) and SAC codes (Services Accounting Code) in Goods and Services Tax Under GST, all goods and services supplied in India have been classified - Goods are… Read More
Challenges being faced by IPs or in the executions of IBC laws Insolvency Professional, Including all major stakeholders in IBC viz Regulators, GOI , Judiciary and IPs are in the… Read More
Can GST Taxpayer claim GST input on Bank Charges ? Yes, you can claim Input Tax Credit on bank charges under Goods And Services Tax , and there are official… Read More
Key aspects international tax measures announced in budget 2024 The international tax measures announced in the union Budget 2024 focus on several important aspects, such as the Equalisation Levy, foreign… Read More