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Budget 2025: New Income Tax Law and Expectations
20 January 2025 at 08:48The upcoming Budget 2025 session of Parliament is set to witness the introduction of a brand-new Income Tax Bill, aimed at simplifying the decades-old Income Tax Act of 1961. A
Income Tax Department Releases Updated Utility Excel-Based & JSON Schema for ITR-1 to ITR-7
18 January 2025 at 07:55In a significant update aimed at streamlining the Income Tax Return (ITR) filing process, the Income Tax Department has released an updated version of the Excel-based Utility and JSON Schema for ITR forms 1 to 7. ITR 1For individuals being a resident
US-India Tax Forum Proposes Key Tax Reforms Ahead of Union Budget 2025
18 January 2025 at 07:55Ahead of the Union Budget 2025, the US-India Tax Forum, under the US-India Strategic Partnership Forum (USISPF), has put forth recommendations aimed at simplifying India's tax framework and boosting investor confidence.
CBIC Clarifies GST Rules on Pre-Packaged Goods and Gene Therapy
18 January 2025 at 07:55In a significant update, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 02/2025-Central Tax (Rate) on January 16, 2025, amending the Central Goods and Services Tax Act, 2017 (CGST Act).
CBIC Amends Customs Duty Exemptions for LRSAM Equipment
18 January 2025 at 07:54In a move to strengthen India's defense capabilities, the Central Government has issued Notification G.S.R. 64(E), making further amendments to the Notification No. 19/2019-Customs, dated July 6, 2019.
CBIC Notifies GST Exemption for Exports at Concessional Rate of 0.1%
18 January 2025 at 07:54In a significant move to boost exports, the Central Government has issued Notification G.S.R. 62(E) under the Central Goods and Services Tax Act, 2017, Goods and Services Tax (Compensation to States) Act, 2017,
CBIC Revises GST Rates for Key Supplies Under Public Interest Mandate
18 January 2025 at 07:54In a major move aimed at aligning tax rates with public welfare initiatives, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 04/2025-Central Tax (Rate) on January 16, 2025.
CBIC Issues Notification No. 06/2025: Key GST Rate Amendments for 2025
18 January 2025 at 07:54IntroductionThe Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 06/2025 on January 16, 2025, introducing significant amendments to GST rates and provisions.
CBIC Notifies Amendments to GST Rate Framework
18 January 2025 at 07:54IntroductionIn a significant move to enhance clarity in GST compliance, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 07/2025 – Central Tax (Rate) on January 16, 2025.
Budget 2025: Tax Relief for Salaried Class and MSMEs Expected to Boost Economy
18 January 2025 at 07:54As the Union Budget 2025-26 approaches, tax experts and stakeholders are urging the government to address key concerns of the salaried class and Micro, Small, and Medium Enterprises (MSMEs) to drive consumption, investment, and economic growth.
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