Clarification on Place of Supply for Data Hosting Services in India
The Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 232/26/2024-GST on September 10, 2024. It gives clear guidance on the place of supply for data hosting services provided by Indian companies to foreign cloud computing providers. The Problem Businesses have raised concerns about whether data hosting services provided by Indian companies to […]
Updates on Circular No. 233/27/2024-GST: Clarification on IGST Refunds for Exporters
The Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 233/27/2024-GST on 10th September 2024. This circular clarifies the rules on IGST refunds for exporters who previously availed tax exemptions on imported inputs. Key Points: Rule 96(10) of CGST Rules, 2017: Amendment to Rule 96: This update helps exporters regularize their payments and […]
Partnerships and Collaborations: A Gateway to Business Expansion!
In today’s interconnected business landscape, partnerships and collaborations have become essential strategies for companies aiming to expand their reach and drive growth. By joining forces with other businesses, organizations can tap into new markets, leverage additional resources, and enhance their competitive advantage. In this blog, we’ll explore how strategic partnerships and collaborations serve as gateways […]
Income Tax Act, 1961 vs. Direct Tax Code, 2025: What’s Changed and Why It Matters
India is preparing for a significant shift in its tax landscape with the introduction of the Direct Tax Code (DTC) 2025. Back in 2017, the Ministry of Finance formed a task force to draft a new direct tax law. The goal of this law is to simplify tax regulations, expand the tax base, and make […]
Clarification on Input Tax Credit for Demo Vehicles – Latest Update
Introduction On September 10, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 231/25/2024-GST. This circular provides clarification on the availability of Input Tax Credit (ITC) for demo vehicles used by motor vehicle dealers. Specifically, it explains how ITC provisions under the CGST Act apply to demo vehicles used for customer […]
Navigating Business Growth in a Competitive Market !
In today’s fast-paced and ever-evolving business landscape, achieving growth is no longer just about offering a great product or service. Businesses must navigate intense competition, shifting market trends, and changing customer demands to succeed. So how can you strategically grow your business while staying ahead of the competition? In this blog, we’ll explore key strategies […]
GST Update: How Advertising Services for Foreign Clients Are Taxed
On September 10, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 230/24/2024-GST. This update provides clear guidance on how Indian advertising agencies should handle taxes when offering services to foreign clients under the Goods and Services Tax (GST). Let’s break down the main points. 1. Are Indian Advertising Agencies Intermediaries? […]
The Role of Business Model in Fueling Business Expansion !
A well-crafted business model is the backbone of any successful business, serving as the blueprint for how a company operates, generates revenue, and creates value for its customers. As businesses grow and look to expand, the role of the business model becomes even more critical. It not only defines the pathway to profitability but also […]
How to Make Sure You Get Your Tax Refund Without Any Problems
Filing your Income Tax Return (ITR) can sometimes feel confusing, especially when waiting for a refund. If you’ve paid more tax than you needed to during the financial year, you’re likely due a refund. Here’s a simple guide to help you get your refund smoothly and fix any issues if they come up. Steps to […]
New GST Rules Simplify Preferential Location Charges (PLC) for Builders and Buyers
The 54th GST Council Meeting has brought much-needed clarity on how Preferential Location Charges (PLC) should be taxed. PLCs are the extra charges builders apply for prime spots in a project, such as units on higher floors or with better views. The recent decision makes it clear that PLCs are part of a composite supply. […]