Blogs

The recent Notification No. 25/2024-Central Tax, issued on October 9, 2024, clarifies TDS rules for metal scrap transactions, highlighting the government’s commitment to enhancing tax compliance in th Summary of Notification: On October 9, 2024, the Ministry of Finance released Notification No. 25/2024-Central Tax, amending Notification No. 50/2018-Central Tax. This update clarifies the Tax Deduction […]

Understanding the GST Council’s Proposal and Its Impact on Commercial Property Rentals In a significant update, the GST Council, during its 54th meeting on 9th September 2024, proposed a new mechanism for applying the Goods and Services Tax (GST) to the renting of commercial properties. This change introduces the Reverse Charge Mechanism (RCM) when an

The Revolution of GSTR 3B Returns is Coming in January 2025. Here’s Why You Should Be Excited (Or Maybe Just Slightly Less Stressed). Have you ever been sitting at your desk, staring at the clock, knowing your GSTR 3B returns are due, but your GSTR 2B and purchase register refuse to reconcile as if they’re

Get the Lowdown on GST Compliance Before It Comes Knocking on Your Door Introduction: The Dreaded Tax Notice—It Could Happen to You! 1. What Is GST Compliance? Think of GST compliance as your business’s tax hygiene routine. It means adhering to the various GST rules, like proper registration, invoicing, claiming the right input tax credits (ITC),

GST Demand Breakdown: What Led to ₹803 Crore? On December 12, 2024, Zomato revealed that it received a GST demand of ₹803 crore, covering the period from October 29, 2019, to March 31, 2022. This stag Zomato’s Reaction: Confidence in Legal Strength Despite the massive demand, Zomato is firm in its stance. The company plans

The Goods and Services Tax Network (GSTN) continues to refine its systems to enhance efficiency, security, and user experience. In line with these goals and adhering to government guidelines, the National Informatics Centre (NIC) will roll out updated versions of the E-Way Bill and E-Invoice Systems starting 1st January 2025. These updates are significant steps