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Key Differences Between Legal and Tax Concepts in India: Companies, LLPs,HUFs, and Trusts In India, the legal treatment of an entity or transaction often differs from its tax treatment under the Income Tax Act, 1961 . Understanding these differenc…

HSN Code Reporting GST: Mandatory in GSTR-1 from January 2025 From the January 2025 return period, mandatory HSN Code reporting in Table 12 of Form GSTR-1 and GSTR-1A becomes stricter under GST. This change follows Notification No. 78/2020–Centra…

CBDT Notification No. 38/2025: Disallowance of Settlement Expenses On April 23, 2025, the Central Board of Direct Taxes (CBDT) issued Notification No. 38/2025, introducing significant changes to the deductibility of certain business expenditures…

Penalty under Section 122 of GST:  Before diving into the details, here’s a quick overview: Section 122 of the CGST Act, 2017 enumerates 21 distinct offences ranging from issuing false invoices to obstructing tax officers, and prescribes a penalty …

Types of Supply Under GST: Definitions, Rules, Examples & Updates (2025) The concept of “supply” is the cornerstone of India’s Goods and Services Tax (GST) regime. Understanding the types of supply under GST is critical for every business, …

GST Supply Analysis: What Section 7 and Schedules I, II, III The concept of “ supply ” is the linchpin of the GST framework, serving as the taxable event upon which GST liability arises . Any transaction not classified as a “ supply ” falls entirel…

Extension of Time Limit for Filing Appeal under GST Let’s face it — when dealing with legal and tax matters, life always finds a way to throw a curveball. Maybe your accountant took an unplanned vacation. Or maybe a key team member left during…