No required to pay interest & penalty on GST tax demand; conditional waiver from Nov 1, 2024 Central Board of Indirect Taxes and Customs has introduced Section 128A into the… Read More
GST treatment on cross-border advertising services offered by Indian companies to foreign clients The Circular No. 230/24/2024-GST, dated 10th September 2024, provides significant clarifications on the GST treatment of advertising… Read More
Extension of last date for payment of Membership/COP fee for the year 2024-25 to 31st December 2024 Council of ICAI has decided to extend the last date for payment… Read More
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