13. The Hon’ble Apex Court in the case of Suncraft Energy (supra) had occasioned to consider that the party who has paid the tax on invoices being raised and non-discharge of duties by the counterpart ...

Input Tax Credit (ITC) is one of the core features of the Goods and Services Tax (GST) system in India. It allows registered taxpayers to reduce their tax liability by claiming credit for the GST paid ...

Accurate classification of materials and inventory is central to transparent financial reporting, particularly under the ...

The Reserve Bank of India’s Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, met from June 4-6, 2025, ...

According to the GST Act, there is no provision for filing revised returns. Consequently, once GSTR-1 and GSTR-3B are filed, ...

1. (1) These rules may be called the Companies (Accounts) Second Amendment Rules, 2025. (2) They shall come into force with ...

The Income Tax Appellate Tribunal (ITAT) Amritsar has deleted an addition of Rs. 4.72 lakh made to the income of senior citizen Balbir Kaur for Assessment Year 2012-13. The addition stemmed from a ...

Hence, if a bank had earlier routed BDDR through reserves, no deduction would be allowed under income tax. Now, with RBI mandating P&L routing, co-operative banks can rightfully claim tax deduction, ...

let’s view summary of tables to be reported in GSTR-1. 1. Taxable No. 4 outward supplies made to registered persons ...

The statutory time frame provided to a taxpayer for filing an appeal before GSTAT is Three (3) months from the date of ...

RBI Governor Sh. Sanjay Malhotra announced RBI monetary policy on 6 th June 2025: The various decisions taken in the meeting of Monetary Policy Committee are as follows. (RBI Monetary Policy- ...

Traces has recognised that the issue is a recurring issue, the TRACES portal (TDS Reconciliation Analysis and Correction Enabling System) has introduced a refund mechanism in respect of such ...