GST

1. Relief Under Section 128A – Exemption from Interest and Penalty for Section 73 DemandsEffective Date: Beginning from 01/11/2024 (Reference: Finance Act (No.2): Section 146)1. Introduction: The GST...

OverviewIn January 2025, the Goods and Services Tax Network (GSTN) released a series of notices aimed at enhancing the compliance mechanisms for assessees. These advisories encompassed a variety of ar...

1. OverviewSince the introduction of the Goods and Services Tax (GST) in India in July 2017, the tax treatment of key commodities—such as cereals, pulses, flour, and dairy items—has been a focal point...

1. Overview: Navigating ITC in Real Estate and Infrastructure SectorsThe real estate and infrastructure industries play a pivotal role in India’s economic landscape. The introduction of the Goods and...

Introduction: Easing the Burden of GST Reconciliation with AIGSTR-2A and GSTR-2B reconciliation has long been considered one of the most challenging aspects of Goods and Services Tax (GST) compliance...

Background and ObjectiveThe Ministry of Corporate Affairs (MCA) has embarked on a major upgrade of its regulatory infrastructure by reviewing and updating a wide array of e-forms under the Companies A...

1. Overview of Business Transfer and Associated GST Effects1.1. Modes of Business TransferAssessees may transfer their business through a variety of arrangements, such as outright sale, mergers, demer...

1. Introduction: The Significance of Precise GST ComplianceNavigating the Goods and Services Tax (GST) regime in India has redefined how assessees approach tax compliance. Since its inception in July...

Handling Goods Returns in India's Textile Sector: GST Compliance Framework and Operational Challenges1. Overview of Goods Returns in Textile Business OperationsThe textile sector in India, characteriz...

Understanding HSN Codes Under GSTi) Definition and Purpose:(a) The Harmonized System of Nomenclature (HSN) is an internationally recognized classification system for goods. It assigns a specific code...

1. Overview of GST Input Tax Credit FrameworkThe Goods and Services Tax (GST) system, implemented in 2017, was designed to establish a unified taxation structure that facilitates seamless Input Tax Cr...

Essential Prerequisites for Availing ITCA registered assessee, including those acting as Input Service Distributors (ISDs), can only avail Input Tax Credit (ITC) under the Goods and Services Tax (GST)...

The Reverse Charge Mechanism (RCM) under the Goods and Services Tax (GST) framework in India signifies the shifting of tax liability from the supplier to the recipient for certain notified transaction...

A significant change has been introduced in the Goods and Services Tax (GST) compliance framework through an advisory issued by the GST Network (GSTN) on June 7, 2025. Taxpayers should be aware that,...

Starting with the tax period of July 2025, which requires returns to be filed in August 2025, the Goods and Services Tax Network (GSTN) will enforce a significant procedural change: the tax liability...

Guide to Legal Compliances and Regulatory Updates in India (June 2025)1. Foreign Exchange Management Act (FEMA), 1999Monthly Obligations:By 5th June 2025: AD Category-I Banks must upload data on outwa...

Mandatory HSN Code Reporting in GSTR-1/1A: Phase-III Effective May 2025(i) Overview of HSN Code Reporting Enhancements(a) The Goods and Services Tax Network (GSTN) has rolled out Phase-III of compulso...

Statutory Structure: Demand, Recovery, and Penalty Provisions(i) Demand and Recovery vs. Offences and Penalties(a) Chapter XV of the CGST Act delineates demand and recovery measures (Sections 73–79) f...

1. Overview The introduction of the Goods and Services Tax Appellate Tribunal (GSTAT) marks a significant step toward streamlining GST dispute resolution in India. A pivotal procedural requirement for...

1. IntroductionThe withdrawal of Entry 14 from Notification No. 12/2017-Central Tax (Rate) has sent ripples across the paying guest (PG) and hostel accommodation sector, leaving business owners and ta...