10 Jul, 2025
CESTAT Allows Adjustment of ₹22.37 Lakh Excess Service Tax In a significant relief to taxpayers, the Kolkata Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has allowed adjustment and refund of ₹22.37 lakh excess service tax paid by Eastern India Enterprise. The tribunal also set aside the penalty imposed under Section 78 […]
Read More10 Jul, 2025
NBFC Fair Lending Norms Key Highlights for Indian Borrowers Finance Minister Nirmala Sitharaman has issued a strong reminder to NBFCs: don’t exploit customers in the name of easy credit. Speaking to the industry, she asked non-banking financial companies to rethink aggressive loan tactics, ensure transparency in charges, and treat borrowers with dignity during recovery. This […]
Read More10 Jul, 2025
NGO Can Claim 80G Tax Benefits Despite Filing Error: ITAT Clarification Focus Keyphrase: 80G tax benefits In a relief to charitable trusts and donors alike, the Income Tax Appellate Tribunal (ITAT) has ruled that 80G tax benefits cannot be denied merely due to technical errors in Form 10B filing. This ruling clarifies that compliance lapses […]
Read More10 Jul, 2025
Intro:The phrase “delayed tax payment is not a crime if there’s no fraud” finds strong backing in a recent Allahabad High Court ruling. The court granted anticipatory bail to a taxpayer who cleared dues but faced GST prosecution — with no embezzlement alleged. This case reshapes how Indian businesses can interpret anticipatory bail in GST […]
Read More10 Jul, 2025
No Penalty on Delayed E-Way Bill Generation Without Intent to Evade Tax In a major relief for businesses, no penalty shall apply on delayed e-way bill generation if there’s no intent to evade tax. The Central Board of Indirect Taxes and Customs (CBIC), in multiple clarifications and recent court rulings, has affirmed that mere delay […]
Read More10 Jul, 2025
What’s Delaying the Next GST Council Meeting? The next GST Council meeting is expected only after the monsoon session of Parliament in 2024. The reason? Several crucial reports from Groups of Ministers (GoMs) are still pending — including those on GST tribunals, online gaming tax issues, and tax slab rationalisation. This delay could affect key […]
Read More10 Jul, 2025
IntroductionEven third parties—consultants, transporters, or brokers—can face fines if they help in GST fraud. This blog breaks down who’s covered, what acts trigger the penalty, and how to stay safe. Who Can Be Penalised Under Section 122(1A)? Unlike Section 122(1), which targets registered persons, Section 122(1A) expands the net. Applies to: Key Offences That Attract […]
Read More10 Jul, 2025
Big GST Cut on Insurance: What It Means in 2025 The focus keyphrase “GST cut on insurance” has returned to headlines after the 53rd GST Council Meeting hinted at rate rationalisation across sectors. With insurance premiums rising and penetration still low in India, a potential GST cut on insurance in 2025 could bring much-needed relief […]
Read More10 Jul, 2025
IGST Credit for Importers: What CBIC May Soon Change IGST credit for importers has long been stuck due to procedural mismatches and system restrictions. Now, CBIC is considering a relaxation that could release thousands of crores in blocked credits. Here’s what Indian importers, tax consultants, and businesses need to know. Why IGST Credit on Imports […]
Read More10 Jul, 2025
Delhi Tax Amnesty Scheme: Settle Pre-GST Dues Easily The Delhi government has announced a Tax Amnesty Scheme for pre-GST disputes, aiming to resolve legacy VAT, CST, and Entry Tax matters. This one-time scheme offers a window for taxpayers to clear old dues with significant waivers on interest and penalty, aligning with similar amnesty drives by […]
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