By Admin | January 23, 2025 | Categories: 55th GST Council | 4 Min Read The Central Board of Indirect Taxes and Customs (CBIC) has amended the CGST Rules, 2017,…
CBDT Issues Guidance on Principal Purpose Test (PPT) Under India’s DTAAs
The Central Board of Direct Taxes (CBDT) has released Circular No. 01/2025 dated January 21, 2025, providing guidance on the application of the Principal Purpose Test (PPT) under India’s Double…
Proceedings Under Section 73 of CGST Act on Wrong Credit Availment Held Not Maintainable
The Hon’ble Kerala High Court, in the case of Rejimon Padickapparambil Alex v. Union of India [WA No. 54 of 2024 dated November 26, 2024], held that the availment of…
GST Portal Update: Negative Values Now Allowed in GSTR-3B to Address Negative Liability
The GST Network (GSTN) has introduced a significant update on the GST portal, allowing taxpayers to report negative values in the Outward Supply Table 3.1 of GSTR-3B. This update addresses…
Insurers Advocate Continuation of GST on Term Insurance Plans
By: Admin, AAERM Law AssociatesDate: January 23, 2025Categories: GST, Recent News The ministerial panel on GST rationalization is discussing ways to ensure tax benefits are passed to consumers. However, life…
Key Updates in GSTR-1/1A: HSN Summary Simplified
By: Admin, AAERM Law AssociatesDate: January 23, 2025Categories: GST, GSTR Compliance Updates The government has introduced significant changes to the filing process of GSTR-1/1A. These updates aim to enhance accuracy…
CBDT Amends Income-tax Rules to Define Presumptive Taxation Conditions for Non-Resident Cruise Ship Operators
By: AdminDate: January 22, 2025Categories: CBDT Notification, Press ReleaseReading Time: 4 Min Introduction: New Tax Regime for Cruise OperatorsThe Finance (No. 2) Act, 2024, introduced a presumptive taxation regime designed…
GSTN Issues Advisory on Availing Input Tax Credit (ITC) and GSTR-2B Compliance
By: AdminDate: January 22, 2025Categories: GST Law, GSTN Report, Important NewsReading Time: 4 Min Introduction: GSTN Resolves Duplicate Entry IssueThe Goods and Services Tax Network (GSTN) has issued an advisory…
India’s Third Attempt at Tax Reform: A Critical Moment for Change
By: AdminDate: January 22, 2025Categories: Income Tax News, NewsReading Time: 4 Min Introduction: Mounting Taxpayer ConcernsAs India prepares for its third attempt to reform the six-decade-old tax code, dissatisfaction among…
Budget 2025: Key Tax Reforms Proposed by Former CBDT Chair JB Mohapatra
By: AdminDate: January 22, 2025Categories: CBDT, NewsReading Time: 4 Min Introduction: Proposals for a More Efficient Tax SystemAs the Union Budget 2025 approaches, former CBDT Chair JB Mohapatra has outlined…