Under section 208 it is obligatory to pay advance tax during the financial year in every case where the advance tax payable is Rs. 10,000 or more. Thus if the advance tax payable is less than Rs.

The Government of India addressed queries regarding the Goods and Services Tax (GST) on medicines and medical goods in a recent Rajya Sabha session. The GST rates and exemptions are determined by the ...

Notwithstanding this fall, the Indian stock markets have consistently performed positively for long term investments. The benchmark NIFTY-50 index has yielded a price return of 11.13% on compounded ...

Delhi High Court held that retrospective cancellation of GST registration without assigning reason in SCN and in final order is unjustifiable. Accordingly, writ allowed and order cancelling ...

Madras High Court held that reopening of assessment u/s. 148 of the Income Tax Act based on the judgement of Hon’ble Supreme Court judgement is tenable as Supreme Court has not given direction to ...

Delhi High Court held that section 67 (7) of the CGST Act mandates that notice of extension of the seizure is required to be issued to the assessee prior to conclusion of the six-month period. Thus, ...

Madras High Court directed to expeditiously dispose of the appeal filed before Appellate Authority and also held that stay granted shall continue to operate till the disposal of pending appeal.

The bill reduces the number of chapters from 52 to 23 and pages from 823 to 622, eliminating redundant and obsolete provisions. This structural simplification makes the tax code more accessible and ...

March 2025 is crucial for GST compliance, requiring businesses to complete 16 key actions. These include reconciling outward supplies in Forms GSTR-1 and GSTR-3B, aligning input tax credit (ITC) and ...

In the case In re Geekay Wires Limited, the GST Appellate Authority for Advance Ruling (AAAR) Telangana addressed whether ...

FULL TEXT OF THE ORDER OF APPELLATE AUTHORITY FOR ADVANCE RULING,TELANGANA ...

The Telangana Authority for Advance Ruling (AAR) addressed the GST liability of Telangana State Technology Services Limited ...