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Upcoming Transformations in GST Invoice Management System from October 2025
Overview of GSTN’s New Invoice Management System ReformsThe Goods and Services Tax Network (GSTN) has announced a series of major enhancements to the GST Portal, set to take effect from the October 20...
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Comprehensive Overview of Recent Amendments in GSTR-9 and GSTR-9C for FY 2024-25
Introduction to the Latest UpdatesThe Central Board of Indirect Taxes & Customs (CBIC), through Notification No. 13/2025-CT dated 22 September 2025 and supporting circulars, has significantly revamped...
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The End of GST Compensation Cess and the Question of Unutilized Credits
Every tax regime has its own narrative, but the GST Compensation Cess stands out due to its deep political and federal implications. Conceived as a result of negotiations to uphold the spirit of feder...
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Can the Income Tax Return Utility Restrict an Assessee’s Statutory Rights While Filing Returns?
1. Introduction1.1. Electronic Filing and the Purpose of the Income Tax UtilityAssessees in India are mandated to submit their income tax returns electronically. To assist in this process, the Income...
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Implications of GST 2.0 on Asset Management Companies (AMCs) in India
Overview of GST 2.0 and Its Significance for AMCsThe implementation of GST 2.0 from 22nd September 2025 has ushered in notable alterations to the GST framework, directly influencing the manner in whic...
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Independent Directors: Ensuring Robust Corporate Governance in India
1. OverviewIndependent Directors as Pillars of GovernanceIndependent directors have emerged as a cornerstone in the architecture of corporate governance for Indian companies. Their primary function is...
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Branch Audit under the Companies Act, 2013: Comprehensive Analysis of Statutory Provisions, Auditor Interactions, and Practical Insights
Understanding the Statutory Basis for Branch Audits(i) Scope and Identification of Branch OfficesThe Companies Act, 2013 does not lay down a separate, exhaustive definition for a ‘branch office’. Inst...
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Regulatory Compliance Timeline for October 2025
October 2025 presents a demanding compliance landscape for Indian assessees and companies, with numerous statutory deadlines concentrated toward the month-end. The initial fortnight is marked by criti...
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Transitional Provisions: Navigating the Shift from Income-tax Act, 1961 to Income-tax Act, 2025
The transition from the Income-tax Act, 1961—India’s trusted tax statute for over six decades—to the new Income-tax Act, 2025, is a significant moment in the country’s fiscal landscape. While the new...
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Tax Compliance Calendar for October 2025: Income Tax and GST Obligations
The month of October 2025 presents a critical period for assessees under both the Income Tax Act, 1961, and the Goods and Services Tax Act, 2017. This comprehensive guide outlines all mandatory compli...
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Key Insights on Tax Exemption for Long-Term Capital Gains through Reconstruction of Residential Property
Overview: Navigating Section 54F for Capital Gains ExemptionSection 54F of the Income Tax Act, 1961 (recently renumbered as Section 86 in the Income Tax Act, 2025), provides an opportunity for assesse...
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Mandatory Transition to New Tax Regime on Missing ITR Filing Deadline
Background: Choice of Tax Regime and Relevant Deadlines(i) Annual Selection for Non-Business AssesseesIndividuals without business or professional income are allowed to opt for either the old or new t...
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Extent of Limited Liability in the Context of One Person Company (OPC) Under Company Law
Understanding the One Person Company (OPC) Structure(i) Definition and Legal FrameworkAs per Section 2(62) of the Companies Act, 2013, a One Person Company (OPC) is defined as a company that has a sin...
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Director Resignation: Step-by-Step Procedure and Documentation under the Companies Act, 2013
Overview of Director Resignation under Companies Act, 2013When a director chooses to resign from a company, the procedure is governed by Section 168 of the Companies Act, 2013. This section outlines t...
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Has the Disposal Test Turned Into a Trap? The Hyatt Case and the Expanding Notion of Permanent Establishment in India
1. OverviewIn July 2025, the Supreme Court’s decision in Hyatt International Southwest Asia Ltd. v. ADDT (“Hyatt”) marked a pivotal shift towards prioritizing substance over legal form in determining...
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Significance of Depreciation Under “Profits and Gains of Business or Profession”
Overview of Income Classification Under Indian Tax Lawi) Five Major Income Categories:The Income Tax Act, 1961, as well as the Income Tax Bill, 2025, organizes income into five primary heads, as outli...
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GST 2.0 Demystified: Essential Insights for Assessees and Small Businesses
1. Introduction to GST 2.0 India is gearing up to roll out GST 2.0 on September 22, 2025, representing a significant overhaul to the current Goods and Services Tax framework. The primary aim of this r...
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Enhancements to the Fast-Track Merger Process: Companies (Compromises, Arrangements and Amalgamations) (Amendment) Rules, 2025
IntroductionCorporate mergers and amalgamations play a pivotal role in the evolution of business entities. To ensure that the statutory framework remains relevant and efficient, periodic reviews and a...
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Rights Issue under Companies Act, 2013: Valuation and Escrow Requirements Explained
Overview of Rights Issue ComplianceA rights issue, as per Section 62(1)(a) of the Companies Act, 2013, allows a company to offer additional shares proportionately to its existing resident shareholders...
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Fast-Track Merger Regulations 2025: Broadened Eligibility for Corporate Restructuring
Introduction to Enhanced Fast-Track Merger RegimeThe Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025, have significantly expanded the avenues for corporate restructuring...