The GST Council met for the 55th time under the Chairmanship of Honourable FM Nirmala Sitharaman. Some key changes were recommended regarding availability of ITC and date of availability of ITC.
The GST Policy Wing has come to the rescue with a new circular that finally clears the air about the GST treatment of vouchers.
This article provides an overview of the critical tax law changes effective this year, their implications, and the steps taxpayers should take to adapt.
Analysis of the 55th GST Council's decision for Amendments in the CGST Act, 2017 and CGST Rules, 2017 in respect of the functionality of the Invoice Management System (IMS)
Change in Income Tax Slab under New Tax Regime
Compliance Tracker for the month of January 2025
The 55th GST Council meeting, held on December 21, 2024, resulted in a series of key decisions aimed at refining India's Goods and Services Tax (GST) framework. All the recommendations affecting small taxpayers have been discussed below.
Common mistakes frequently observed in financial statements as per ICAI's publications and reviews
In the dynamic world of finance, corporate actions such as mergers, demergers, dividends, and stock splits often introduce key dates that investors must pay attention to-among these, the record date and the ex-date hold significant importance.
In a significant move to address long-standing concerns regarding the taxability of vouchers under GST, the GST Council made certain recommendations
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961