NRIs, PIOs, and foreign nationals - Foreign Remittances and Tax Implications This notification, FEMA 13 (R)/2016-RB, issued by the Reserve Bank of India on April 1, 2016, governs the remittance… Read More
GSTR 2B ITC Issue : GSTN Advisory on how to fix it for FY 2023-24 Recent Goods and Services Tax Network advisory and the concept explained by Rajput Jain and… Read More
IBBI, IBA to launch centralised platform (eBKray platform) for asset liquidation The eBKray platform is a crucial step toward modernizing the IBC's liquidation framework. By addressing issues like fragmented processes,… Read More
Taxpayers warns: Revise ITR to Show Foreign Assets or Face 10 Lakh Penalty Income Tax Dept has initiated a Compliance-Cum-Awareness Campaign aimed at ensuring that taxpayers accurately disclose foreign assets… Read More
Rule 86B, introduced by Notification No. 94/2020 – Central Tax on December 22, 2020, effective from January 1, 2021, limits the use of Input Tax Credit for discharging output… Read More
File GSTR-3B by Nov 30, 2024, to Claim Pending ITC for FY 2023-24 The deadline for claiming Input Tax Credit for Financial Year 2023-24 is fast approaching. The final deadline… Read More
Income Tax Department identify cases where capital gain tax has not been paid by land owners : The Income Tax Department's recent focus on capital gains tax compliance under Section… Read More
Overview on RBI Penalties is not a 'Supply' Under GST law : The recent ruling by the Maharashtra Authority for Advance Ruling on RBI penalties and GST offers a clear… Read More
File Fresh declaration required for Goods Transport Agency Services Managing billing under both Forward Charge Mechanism and Reverse Charge Mechanism for a transporter client involves meticulous compliance with GST regulations.… Read More
GST Returns to Become Time-Barred After 3 Years The upcoming change in the GST system, effective from early 2025, will significantly impact taxpayers by imposing a 3 year time limit… Read More