Understanding Advance Tax: A Comprehensive Guide
Advance tax is an essential part of income tax management in India. It allows taxpayers to spread their tax payments throughout the financial year rather than making a large payment at the end. This guide will explain what advance tax is, who needs to pay it, important due dates, and how you can pay it […]
Re-opening of Reporting ITC Reversal Opening Balance: A Step-by-Step Guide
The government has re-opened the reporting of ITC (Input Tax Credit) reversals. Businesses need to follow new steps to comply with this update. In this blog, we’ll explain the changes and how you can report your ITC reversal correctly. What Has Changed? In July 2022, the government introduced Notification No. 14/2022 – Central Tax. This […]
RE-Invest 2024: A Global Call to Renewable Energy Investors !
India is fast emerging as a leader in the renewable energy sector and RE-Invest 2024 is set to be the cornerstone of this transformation. In a world that is rapidly diversifying its renewable energy supply chain. The RE-Invest 2024 brings stakeholders together to explore investments in India’s rapidly growing energy market. A prime opportunity! India’s […]
Transforming Indian Industry: A Journey of Improvement and Innovation!
India has always been a land of opportunities, rich in culture, diversity, and talent. However, one of the greatest challenges the Indian industry faces is transforming. It’s vast industrial landscape into one that thrives on innovation, efficiency, and continuous improvement. While many may feel daunted by the scale of such a transformation, the truth is […]
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 […]