The Budget introduces key GST reforms covering post-supply discounts, refunds, intermediary services, and advance ruling ...

A practical guide to ensuring Bill of Entry data flows correctly from ICEGATE to GSTR-2B. Proper verification prevents ITC ...

IRS Publication 523 allows taxpayers to exclude up to 500,000 of gain if ownership and residence tests are met. The article ...

The new framework mandates that proceedings under Section 74A must be initiated by officers formally designated through ...

The Tribunal held that failure to provide opportunity to cross-examine foreign information sources amounted to violation of ...

The ITAT held that fresh allotment of shares at a value below fair market value attracts Section 56(2)(viia). The term receives includes allotment, and the differential amount was rightly taxed as ...

Pursuant to High Court observations and fresh investigation, GSTAT held that the developer did not gain additional ITC benefit warranting price ...

With GSTAT operational, mismatches are no longer automatically treated as fraud. Strong documentation and intent-based defense now determine litigation ...

The ITAT held that absence of a valid notice under Section 143(2) is a jurisdictional defect. Since the notice was not properly issued by the competent officer, the entire assessment was declared void ...

The Tribunal ruled that proving source of source was not mandatory for AY 2014-15. Since identity, creditworthiness, and genuineness were established, unsecured loan additions were ...

The Bill of Entry is the key document for paying IGST on imports and claiming Input Tax Credit. Proper GSTIN reporting and data matching are essential to avoid credit ...

Under GST, the burden of proof falls on the recipient mainly when they claim input tax credit (ITC); this is codified in section 155 and refined by recent ...