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On September 14, 2023, the Ministry of Finance, Department of Revenue, issued a significant notification that impacts the administration of the Central Goods and Services Tax Act, 2017. In this blog post, we will delve into the details of this notification and its implications for the taxation landscape in India. Background The Central Goods and …

State Benches of Goods and Services Tax Appellate Tribunal (GSTAT) Across India Read More »

In the realm of India’s taxation system, the government has always sought ways to ensure fairness and ease of process. Circular No. 188/20/2022-GST, issued by the Central Board of Indirect Taxes and Customs under the Ministry of Finance, introduces guidelines on how unregistered individuals can file refund applications in specific scenarios. This circular provides insights …

Refund of GST paid for dealing in flats and insurances: Application Process for UnregisteredPersons. Read More »

The world of taxation is constantly evolving, and it’s imperative for businesses to stay informed about changes that could impact their financial operations. In this article, we’ll delve into the significant changes in Table 4 of Form GSTR-3B, introduced by the Government to streamline the reporting of Input Tax Credit (ITC) availed, ITC reversal, ITC …

Sep’2023 GST Return Filing Change: Electronic Credit Reversal & Reclaim Statement (ECRRS) Read More »

In today’s rapidly digitizing world, the protection of personal information has become a paramount concern. As technology continues to advance, the need to establish comprehensive data protection regulations has become evident. Several countries, including the European Union with the General Data Protection Regulation (GDPR) and Singapore with the Personal Data Protection Act 2012, have taken …

Safeguarding Personal Data in the Digital Age: A Deep Dive into India’s Digital Personal Data Protection Act Read More »

In the ever-evolving landscape of work, freelancing has emerged as a potent avenue for professionals to exhibit their skills and pave their unique paths. While freelancers enjoy the liberty and flexibility of self-employment, they encounter distinct financial responsibilities that may not be as prevalent among traditional employees. From delving into the intricacies of income tax …

 Navigating Freelancer’s Tax Compliances: Income Tax, GST, and Accounting Read More »

In the realm of financial transactions, borrowing and lending activities between residents and non-residents are governed by stringent regulations set forth by the Foreign Exchange Management Act (FEMA). This article delves into the intricacies of these regulations, shedding light on the permissible actions, limitations, and compliance requirements surrounding borrowing and lending transactions in the context …

Borrowing and Lending Between Residents and Non-Residents: Understanding the Regulations Read More »

In the intricate realm of tax compliance, the eligibility of Input Tax Credit (ITC) is a crucial aspect for businesses. This article delves into the question of whether recipients can have their ITC denied without conducting a thorough investigation of their suppliers. It scrutinizes a significant High Court case that revolves around the reversal of …

ITC CANNOT BE DENIED TO RECIPIENT WITHOUT PROPER INVESTIGATION OF SUPPLIER Read More »

In the dynamic landscape of business, globalization has paved the way for foreign companies to establish a presence in India. The Indian Companies Act encompasses specific provisions and compliance requirements for these foreign entities. This article dives into the nuances of Sections 379 to 393 of the Companies Act, 2013, which are dedicated to foreign …

 FOREIGN COMPANY IN INDIA: PROVISIONS AND COMPLIANCE Read More »

In the world of investment, share certificates hold a significant role as they represent ownership of company shares. These documents serve as concrete evidence of an individual’s stake in a company. However, life is unpredictable, and sometimes these valuable certificates can be lost or misplaced. When faced with such a situation, both the shareholder and …

 LOST YOUR SHARE CERTIFICATES? DON’T PANIC! FOLLOW STEPS TO CLAIM OWNERSHIP Read More »

In the 50th GST Council meeting held on July 11, 2023, a significant decision was made that sent shockwaves throughout the gaming industry. The GST Council recommended imposing a 28% GST on the entire face value of Online Gaming, Casinos, and Horse Racing, irrespective of whether they are considered games of skill or games of …

 Exploring the Impact of GST on Online Gaming: A Deep Dive into the 28% Levy Read More »