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Income Tax Assessments and Raids: Ensuring Fairness – A Detailed Examination
Introduction The fairness and impartiality of Income tax assessments and raids conducted by the Income Tax Department are essential pillars of a just tax regime. These processes, w
Basic Concept of Tax Invoice, Credit note and Debit note under GST
Understanding tax invoices, credit note and debit notes is essential in navigating the complexities of the Goods and Services Tax (GST) regime in India. Let’s delve deeper in
GST Enforcement Practices: Misuse and the Urgent Call for Reform and Fair Practice
Introduction The Goods and Services Tax (GST) was introduced to simplify the tax framework and foster ease of doing business by unifying the tax structure across India. However, th
Fairness in Tax Assessments: Encouraging Transparency in GST Regulations for Businesses – A Case Study
Introduction The case law, W.P.No.9624 of 2024, heard in the High Court of Judicature at Madras, sheds light on the complexities of taxation under the GST regime and underscores th
Income Tax Return Filing: A Comprehensive Guide to Ensuring Smooth Process and Avoiding Notices from the Department
Introduction Filing income tax returns (ITR) is a crucial responsibility for every taxpayer, ensuring compliance with tax laws and regulations. However, the income tax return Filin
Impact of GST on the Entertainment Industry, with a Focus on Over-the-Top (OTT) Platforms
Introduction The Entertainment industry has experienced a profound transformation in recent years, driven by technological advancements and changing consumer preferences. One of th
Late GSTR-3B Filing: No Interest on Late GSTR-3B Filing if tax is deposited in electronic cash ledger within due dates
Introduction In the realm of Goods and Services Tax (GST) compliance, the Madras High Court’s recent judgment has sparked discussions regarding the obligations of taxpayers c
GST Summons: Navigating Legal Insights and Compliance Strategies
Introduction In the complex framework of India’s Goods and Services Tax (GST) regime, the issuance of summons under Section 70 of the CGST Act, 2017, often instills a sense o
Anti-Profiteering Mechanism Upheld: Delhi High Court Validates and Ensures Integrity of GST
Introduction The anti-profiteering mechanism embedded within the Goods and Services Tax (GST) framework, as delineated by Section 171 of the CGST Act, 2017, serves as a safeguard t
GST Credit Note Declarations: Navigating the Legal Framework
In the complex landscape of tax compliance, particularly within the domain of Goods and Services Tax (GST), the process of issuing and declaring credit notes holds significant impo