GST Compliance & Penalty Framework: When Late Fee is Enough, No Additional Penalty Under Section 125, Says Madras High Court.

GST Compliance & Penalty Framework: When Late Fee is Enough, No Additional Penalty Under Section 125, Says Madras High Court.Landmark Ruling: Tvl. Jainsons Castors & Industrial Products v. ACST

The Madras High Court, in a recent and significant judgment (Tvl. Jainsons Castors & Industrial Products v. Assistant Commissioner (ST), W.P. No.

Luxury Now Comes With Extra Tax! Understanding the 1% TCS on Luxury Goods (Effective April 22, 2025)

In a significant move, the Ministry of Finance introduced a new compliance mechanism through Notification No. 36/2025-Income Tax dated 22nd April 2025. For the first time, certain luxury goods priced above ₹10 lakh will attract a 1% Tax Collected at Source (TCS). This is not just about collecting more tax

Mandatory Dropdown HSN Selection, Tab-wise B2B/B2C Reporting & Value Validations

Summary: The GST Network (GSTN) has introduced Phase-III changes to Table-12 of GSTR-1 and GSTR-1A to enhance HSN-wise summary reporting and minimize errors in GST filings. Starting from the February 2025 return period (April 2025 onward), the key changes include mandatory dropdown selection for HSN codes, with no manual entry allowed.

GSTN Implements Phase-III Changes to Table-12 of GSTR-1 & 1A from April 2025

Summary: The GST Network (GSTN) has introduced Phase-III changes to Table-12 of GSTR-1 and GSTR-1A to enhance HSN-wise summary reporting and minimize errors in GST filings. Starting from the February 2025 return period (April 2025 onward), the key changes include mandatory dropdown selection for HSN codes, with no manual entry allowed.

Income Tax Audit Report Under Section 115JB Form 29B computing book profits for companies under Minimum Alternate Tax – MAT.

Summary: Section 115JB of the Income Tax Act, 1961 introduces the concept of Minimum Alternate Tax (MAT) to ensure that companies reporting high book profits but low taxable income due to deductions still contribute a minimum tax. MAT is levied at 15% (plus surcharge and cess) on a company’s book

Supreme Court and Bombay High Court Reinforce Right to Rectify GST Errors: Major Relief for Businesses and Taxpayers

Introduction: In a series of landmark rulings, the Hon\'ble Supreme Court of India and the Bombay High Court have delivered much-needed clarity and relief to taxpayers under the Goods and Services Tax (GST) regime. These decisions reinforce the principle that human errors in GST filings, particularly in GSTR-1 and GSTR-3B,

Section 40A(3) Applies Only to Revenue Expenditure, Not Capital Investments: Delhi High Court

Section 40A(3) Applies Only to Revenue Expenditure, Not Capital Investments: Delhi High Court

Case Title: PCIT vs. Sanskar Homes Pvt. Ltd.Court: Delhi High CourtAppeal No.: ITA 50/2023Date of Judgment: 17/03/2025

In a significant ruling, the Delhi High Court clarified that Section 40A(3) of the Income Tax Act, 1961, which disallows certain cash

GST Appeal Can’t Be Dismissed for Minor Delay if Pre-Deposit Paid: Madras High Court

GST Appeal Can’t Be Dismissed for Minor Delay if Pre-Deposit Paid: Madras High Court

Case Name: Tvl. Chennais Pet Vs State Tax OfficerAppeal No.: W.P.(MD) No. 3995 of 2025Judgment Date: 14/02/2025Court: Madras High Court

The Madras High Court, in a progressive and taxpayer-friendly judgment, held that a minor procedural delay in filing

Proper Service of Notice Crucial for GST Assessment Validity: Madras High Court

Proper Service of Notice Crucial for GST Assessment Validity: Madras High Court

In a recent and impactful judgment, the Madras High Court in M. Vimalraj Vs Union of India W.P.(MD) No. 2649 of 2025, dated 30.01.2025] underscored the importance of due process in the issuance and service of notices under GST

Time-Barred GST Orders Under Section 73 Cannot Be Enforced: Relief by Allahabad High Court

Time-Barred GST Orders Under Section 73 Cannot Be Enforced: Relief by Allahabad High Court

Introduction A landmark judgment from the Allahabad High Court has provided significant relief to taxpayers facing time-barred assessment and recovery orders under Section 73 of the U.P. GST Act, 2017. The ruling, delivered in the case of

CBIC Clarifies Key Aspects of Section 128A Waiver Scheme under GST via Circular No. 248/05/2025-GST

CBIC Clarifies Key Aspects of Section 128A Waiver Scheme under GST via Circular No. 248/05/2025-GST.

The CBIC, through this circular, has provided critical clarifications on the implementation of Section 128A of the CGST Act, 2017-introduced to provide waiver of interest and/or penalty for specific demands raised under Section 73 for the

Gst Voucher Clarification

Gst Voucher Clarification

GST Treatment of Vouchers Clarified: Circular No. 243/37/2024-GST

On December 31, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 243/37/2024-GST to address ambiguities surrounding the Goods and Services Tax (GST) treatment of vouchers. The circular aims to ensure uniformity in the implementation of GST

Kerala SGST: Designation of Common Adjudicating Authority for SCNs to Ensure Uniformity

The Kerala State Goods and Services Tax (SGST) Department issued Circular No. 21/2024 on November 18, 2024, introducing significant changes to the adjudication of Show Cause Notices (SCNs). The circular designates a common adjudicating authority for cases involving multiple taxpayers with interconnected issues. These scenarios include instances where multiple SCNs

Detailed Clarification on Notification No. 23/2024-Central Tax - Waiver of late fees payable by registered persons required to GSTR-7 returns.

Detailed Clarification on Notification No. 23/2024-Central Tax - Waiver of late fees payable by registered persons required to GSTR-7 returns.

The Ministry of Finance, Department of Revenue, issued Notification No. 23/2024-Central Tax on 8th October 2024 (S.O. 4374(E)) under the Central Goods and Services Tax (CGST) Act, 2017. This notification addresses the waiver of

Detailed Clarification on Notification No. 25/2024-Central Tax- Applicability of Deduction TDS On Registered Persons Involved In The Supply Of Metal Scrap.

Detailed Clarification on Notification No. 25/2024-Central Tax- Applicability of Deduction TDS On Registered Persons Involved In The Supply Of Metal Scrap.

On 9th October 2024, the Ministry of Finance, Department of Revenue, issued Notification No. 25/2024-Central Tax (G.S.R. 629(E)), further amending the previously issued Notification No. 50/2018-Central Tax dated 13th September 2018. This notification