Latest Clarification on Input Tax Credit you should know
CBIC has vide Circular No. 241/35/2024-GST dated December, 31, 2024 has given a clarification in regard to availing of input…
GoM on GST rate rationalisation to meet on Sept 25 to discuss slab, rate tweaks
The ministerial panel on GST rate rationalisation will meet on September 25 in Goa to discuss potential changes to tax…
NPS Vatsalya: a pension scheme for minors: All you need to know
According to a Press Information Bureau (PIB) release issued on September 20, parents can invest as little as Rs1,000 per…
Input Tax Credit (ITC) allowable on demo vehicles: CBIC Clarifies
CBIC has issued Circular No. 231/25/2024-GST dated 11th September,2024 wherein it has majorly clarified that input tax credit (ITC) is…
Sec 128A on waiver on intt , penalty applicable from 1st Nov, New Rule to be inserted
Based on the recommendation of GST Council, after considering the difficulties faced by the taxpayers during the initial years of…
GSTN issues advisory for authentication / verification for GST Registration
GSTN has issued Advisory No. 519 dated 6th September, 2024 for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of…
All about GST under reverse charge mechanism (RCM) on sponsorship services
1. Introduction In this article we will be deliberating on all aspects regarding the payment of GST under reverse charge…
First-time taxpayers should know these things before filing ITR
For salaried individuals, the first step to file ITRs is to get hold of their Form-16 from employers. This document…
No GST on Loan from related person without consideration: CBIC
CBIC has vide its Circular No. 22/16/2024-GST dated 26th June, 2024 has clarified that no GST is applicable on Loan…
ITC for RCM supplies can be availed even after time limit u/s 16(4)
CBIC vide Circular No. 211/5/2024-GST dated 26th June, 2024 has clarified that input tax credit can be availed in respect…
Tax planning before March 31: Do’s and dont’s for the last-minute tax saver
Don’t rush into investments just for tax benefits. Choose options that align with your financial goals and risk tolerance. Even…
New Tax Rules To Come Into Effect From April 01, 2024
April 1 marks the beginning of a new financial year and it is always significant from a personal finance point…