November 14, 2024Aaerm Law Associates As the Union Budget 2025 approaches, the Central Board of Direct Taxes (CBDT) is reportedly focusing on introducing a streamlined version of India’s income tax…
HSN Code and GST Rate on Sale of Scrap Materials: A Guide for Businesses
Introduction to GST on Scrap Materials Scrap material sales are subject to Goods and Services Tax (GST) in India, with rates varying based on the HSN (Harmonized System of Nomenclature)…
GSTN Issues Advisory on Supplier View in Invoice Management System (IMS)
Date: November 14, 2024 GSTN Introduces Invoice Management System (IMS) to Simplify Tax Compliance The Goods and Services Tax Network (GSTN) has introduced a new Invoice Management System (IMS) on…
Bombay High Court Quashes Centre’s Press Release on GST Classification of Hand Sanitisers
Key Highlights: The Bombay High Court recently quashed a 2020 press release from the Union Ministry of Finance, which classified alcohol-based hand sanitisers as disinfectants, subject to an 18% GST…
Andhra Pradesh Unveils Rs 2.94 Lakh Crore Budget for FY25, Aims to Revitalise
Key Highlights: On November 11, 2024, Andhra Pradesh's Finance Minister, Payyavula Keshav, presented the state’s budget for the fiscal year 2024-25, totaling Rs 2,94,427.25 crore. The budget is designed to…
Calcutta High Court Directs Department to Accept Appeal for Part Period Affected by GST Portal Technical
Issue By: Admin | Date: November 12, 2024 | Category: Important Pronouncements Key Highlights: The Calcutta High Court ruled in favor of M/s. East India Shipping Agency. It directed the…
Calcutta High Court: Proceedings Remain Valid Without GST Portal Upload
By: AdminDate: November 12, 2024Category: Important Pronouncements | #GST #Taxation Overview of the Ruling In Messers Sreema Rice Mill v. Union of India (Writ Petition No. 11892 of 2024, dated…
CII Calls for Tax Reforms and Capex Boost in FY26 Budget
The Confederation of Indian Industry (CII) is advocating for tax code simplifications and sustained capital expenditure (capex) in the upcoming FY26 Budget. In a recent meeting with Revenue Secretary Sanjay…
AY25 ITR Filing Set to Surge, Yet ITR-1 Growth Slows
With the AY25 Income Tax Return (ITR) filing deadline approaching, the number of returns filed is likely to surpass last year's. However, ITR-1 filings—the most widely used form—show little to…
Last Call for Businesses to Correct GST Compliances and Avail ITC for FY24
With less than three weeks remaining, businesses have a final chance to claim pending Input Tax Credit (ITC) and make necessary adjustments in Goods and Services Tax (GST) returns for…