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Major Developments from the 56th GST Council Meeting
Overview of Key RecommendationsThe 56th GST Council meeting brought forth several pivotal suggestions intended to enhance tax compliance, simplify processes, and clear up ambiguities. Notable recommen...
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Major Highlights of the 56th GST Council Meeting: Overhaul in Rates, HSN/SAC Codes, Customs Alignment, and Practical Considerations
The 56th meeting of the GST Council, convened on 3rd September 2025, represents a significant stride towards streamlining India’s indirect tax regime. The Council rolled out a host of impactful change...
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Capital Gains Taxation in Transactions Between HUF and Coparceners/Members: An In-depth Review
Overview of Hindu Undivided Family (HUF) under Income Tax Lawi) Defining a HUF and Its CompositionA Hindu Undivided Family (HUF) is regarded as a distinct taxable unit under the Income Tax Act, 1961....
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Comprehensive Guide to Salary and Wage Taxation in India (FY 2025–26): Comparing Old and New Tax Regimes
Overview of Salary and Wage Taxation in FY 2025–26The financial year 2025–26 introduces notable adjustments in the manner salary income is taxed for individuals in India. The Union Budget 2025 has rev...
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Proper Service of Tax Notices: Portal Upload is Not Sufficient
1.1. Introduction to the Judicial PrecedentA significant judgment by the Punjab & Haryana High Court in the case of Munjal BCU Centre of Innovation and Entrepreneurship v. Commissioner of Income Tax (...
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Supreme Court’s Perspective on Oppression and Mismanagement: Insights from Shailaja Krishna v. Satori Global Limited
Introduction to Corporate Governance and Legal SafeguardsCorporate governance refers to the framework of rules, practices, and processes by which companies are directed and controlled, aiming to maint...
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SEBI’s Revamped Delisting Framework for PSUs: Fixed Pricing, Fair Valuation, and Enhanced Investor Security
OverviewSEBI has brought forth a transformative amendment to the delisting regulations through the SEBI (Delisting of Equity Shares) (Amendment) Regulations, 2025, as per Notification No. SEBI/LAD-NRO...
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Comprehensive Overview of Key Decisions from the 56th GST Council Meeting (3rd September 2025)
1. IntroductionThe 56th meeting of the GST Council, convened on 3rd September 2025, showcased the government's ongoing efforts to create a more efficient, transparent, and business-friendly tax enviro...
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Clarification and Recommendations on the Definitions of “Income” and “Transfer” in the Income-tax Act, 2025
IntroductionThe recently enacted Income-tax Act, 2025 introduces fresh interpretations of key terms, notably “income” under section 2(49) and “transfer” under section 2(109). Both definitions are arti...
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GST 2.0: Sectoral Analysis of Rate Rationalisation and Its Implications
1. Introduction to GST 2.0: Key Shifts in the Tax LandscapeThe introduction of GST 2.0 marks a significant transition towards a more streamlined tax regime in India. By reducing the complexity of mult...
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GST 2.0: Decoding India’s New Dual-Slab Tax Regime
Introduction: Evolution of the GST FrameworkThe Goods and Services Tax (GST) was rolled out in India on July 1, 2017, heralding a new era in indirect taxation by streamlining various state and central...
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GST Implications on Commission Income for Agents and Brokers: An In-Depth Analysis
Overview of Commission Income and its TreatmentCommission Earnings under Income Tax LawsFor agents and brokers, commissions comprise business or professional income, governed by Section 28 of the Inco...
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Understanding Section 14 of the CGST Act: Application of Revised Tax Rates
Overview: Section 14 and Its SignificanceSection 14 of the Central Goods and Services Tax Act, 2017 is a special provision that addresses the determination of the applicable GST rate when there is a r...
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Understanding Various Resolutions under the Companies Act, 2013: Definitions, Illustrations & Draft Formats
1. Introduction to Resolutions as per Companies Act, 2013A resolution, as defined under the Companies Act, 2013, represents a formal expression of a company’s intent or decision. Such resolutions, ado...
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Section 12AB Registration Renewal: Comprehensive Guide to New 10-Year Validity for Charitable Trusts and Institutions
Overview of Legal Provisions and Mandatory Renewal(i) Statutory Requirement for Registration RenewalCharitable trusts and institutions holding Section 12AB registration are required by law to initiate...
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Advance Income Tax Liability: Who Needs to Pay and When?
Overview of Advance Income TaxAdvance income tax, as stipulated in Sections 207 to 211 of the Income Tax Act, 1961 and mirrored in Clauses 401 to 408 of the Income Tax Bill, 2025, obliges assessees to...
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Essential Steps for Accurate Filing of Annual GST Returns (GSTR-9 & GSTR-9C)
As the deadline for submitting Annual GST Returns in Forms GSTR-9 and GSTR-9C for the financial year 2024-25 draws near, assessees need to exercise heightened diligence to ensure precise, compliant, a...
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Navigating India's Online Gaming Act, 2025: Taxation and Compliance Landscape
1. Background and Legislative IntentIndia’s online gaming industry has witnessed exponential growth, amassing over 400 million participants spanning e-sports, casual gaming, and skill-based competitio...
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Boundaries of GST Demand Orders: Mandatory Compliance with Show Cause Notice
OverviewThe Indian Goods and Services Tax (GST) regime is founded on core principles of procedural justice, ensuring that all actions by tax authorities align with codified legal processes. A cornerst...
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Obligation to Pass on GST Rate Cuts: Section 54(11) and Anti-Profiteering under Section 171 – A Comprehensive Analysis
IntroductionThe Delhi Bench of the GST Appellate Tribunal (GSTAT), in its decision dated August 18, 2025, reaffirmed the anti-profiteering mandate by ruling against Raj & Co., a distributor of L’Oreal...