The Goods and Services Tax Network (GSTN) has issued an important advisory for taxpayers across India, reminding them to file all pending GST returns before the three-year expiry period mandated by the Finance Act, 2023. This development is critical for …
Introduction A corporate guarantee is a common financial arrangement wherein one company undertakes to discharge the debt or obligation of another, typically in favor of banks or financial institutions. In the context of group companies, it is often the parent …
Introduction The Andhra Pradesh High Court examined whether absence of a Document Identification Number (DIN) in departmental orders automatically invalidates such orders or whether they continue to hold enforceability until judicially set aside. The Court clarified the legal effect of …
The Karnataka High Court, on September 8, 2025, issued notice to the Union government on a second petition challenging the constitutionality of the newly enacted Promotion and Regulation of Online Gaming Act, 2025. The Act, which bans all real-money online games …
Introduction The Orissa High Court in its judgment dated 11 August 2025 in Reliable Security and Intelligence Services (Orissa) (P.) Ltd. v. NFAC addressed the scope of powers of the Assessing Officer under Section 245 of the Income-tax Act, 1961. The dispute arose when the …
Introduction The Madras High Court in P.N. Traders vs. Deputy State Tax Officer (W.P.(MD) No.21356 of 2025, decided on 12 August 2025) examined the validity of service of notice under the GST regime when a business has already ceased operations. The petitioner …
Introduction In tax adjudication, adherence to timelines and procedural requirements is crucial. However, when genuine circumstances such as serious illness prevent compliance, courts have consistently emphasized the importance of natural justice over rigid procedural formalities. The Orissa High Court, in its judgment …
Introduction The Delhi High Court directed the tax department to process refund claims of excess Input Tax Credit (ITC) arising out of the inverted duty structure within a strict timeline of three weeks. The ruling came in response to the petitioner’s grievance that their …
The Indian Income-tax Act, 1961, not only levies tax on income but also provides relief to taxpayers by allowing the set-off and carry forward of losses. These provisions ensure that taxpayers are taxed only on their net income after adjusting eligible losses. The …
Introduction The issue of refunding unutilised Input Tax Credit (ITC) under the inverted duty structure has long been contentious under GST. A key dispute arose around the July 2022 amendment to Rule 89(5), which corrected the refund formula to include both inputs and input …
Introduction The Goods and Services Tax (GST) regime in India has undergone its most significant transformation since its launch in 2017. In the 56th GST Council meeting held on September 3, 2025, the government unveiled a historic reform package aimed at …
The 56th GST Council meeting has brought some welcome news for small businesses and entrepreneurs. In its bid to make the Goods and Services Tax (GST) regime more business-friendly, the Council has put forward key recommendations aimed at easing the …
Introduction The 56th meeting of the Goods and Services Tax (GST) Council, held on 3–4 September 2025 under the chairpersonship of Union Finance Minister Nirmala Sitharaman, marked one of the most significant overhauls of India’s indirect tax regime since its …
Introduction The Gauhati High Court in its judgment dated 13 August 2025 in Naser Ali Mondal v. State of Assam & Ors. examined the legality of tax recovery proceedings initiated under the CGST Act without the issuance of a proper Show Cause Notice (SCN) under …
Introduction A tariff is a tax imposed by an importing country on goods that enter its borders. When the United States increases tariffs on Indian products, it is not just a matter of government revenue but also a question of …
Introduction It is common for individuals to lend money to friends, relatives, or acquaintances in good faith without executing any formal agreement or written acknowledgment. However, problems arise when the borrower refuses to repay, and the lender finds himself without …
The processing of income tax refunds for Assessment Year (AY) 2025-26 has seen noticeable delays compared to previous years. While refunds are usually credited within a few weeks of e-verification, several systemic, procedural, and compliance-related factors have slowed down the …
In a landmark ruling dated August 26, 2025, the Supreme Court of India in Dogiparthi Venkata Satish and Anr. v. Pilla Durga Prasad & Ors. clarified the legal position of sole proprietorship firms under Indian law. The Court held that a proprietorship is not a juristic person and therefore cannot …
Introduction The Allahabad High Court has recently delivered a significant ruling clarifying the procedural framework in cheque bounce cases under the Negotiable Instruments Act, 1881. The Court held that registration of FIRs and filing of police charge-sheets in such disputes …
Key Highlights of the CBDT Instruction 1. What Changed? The CBDT has amended its own instruction (originally issued on March 15, 2022) to align with the statutory changes made by the Finance (No. 2) Act, 2024. The update specifies that prosecution under Sections 49 and/or …