Summary: The Finance Bill 2025 presents significant updates in both direct and indirect taxes aimed at improving business ease, reducing litigation, and widening the tax base. Direct tax proposals ...

A new Budget amendment necessitates suppliers to ensure buyers reverse input tax credits (ITC) before claiming adjustments when issuing a credit note. This change aims to prevent revenue leakage ...

The recent case law developments provide significant insights into GST appeal timelines, refund claims, and procedural ...

India’s gross Goods and Services Tax (GST) collections rebounded sharply in January, rising 12.3% from December’s weak 7.3% uptick, to hit their second highest monthly tally of ₹1,95,506 ...

The government’s recent decision to cut customs duties to bring down tariffs is also seen as a step towards making the tax regime more business-friendly and globally competitive. The GST Council ...

GST audits are conducted by either Chartered Accountants or Cost Accountants if the business turnover exceeds a specified threshold. The government tax authorities can also conduct audits to ...

He explained that while GST (Goods and Services Tax) captures a wider section of the population, including the poor, it leads to a regressive tax burden. “GST, being an indirect tax, is ...

Further, Mit Desai, Practice Leader, Consumer and Internet at Praxis Global Alliance highlighted, “The broader tourism sector in India is set to grow over 24% annually, creating >6 million new ...

Even as the government announced rationalisation of income tax rates in the Budget, there is also work going on to simplify and rationalise the Goods and Services Tax (GST) regime. Discussions between ...

According to the Government of India, it is necessary to register every business legally. In such a situation, all ...

Biju Prem Shankar, owner and COO of Fresh Products, a Kochi-based traditional snack company, shed light on the complex battle for tax clarity. “For the past seven years, since GST was implemented, we ...