GST on Development Agreements: Bombay High Court Offers Major Relief to Real Estate Developers
Judgment Date: April 8, 2025 Case: Shrinivasa Realcon Pvt. Ltd. vs. Deputy Commissioner, CGST Court: Bombay High Court, Nagpur Bench Judges: Justice Avinash G. Gharote & Justice Abhay J. Mantri Overview of the Case Shrinivasa Realcon Pvt. Ltd. entered into a development agreement on April 7, 2022, with a landowner in Nagpur. The agreement allowed […]
Claiming Refund for Excess Payment of Tax under GST – A Step-by-Step Guide
Overpaid GST due to an error? You’re not alone. Many businesses accidentally pay GST twice or enter the wrong tax head. Fortunately, the GST system allows you to request a refund for any excess payment of tax using Form RFD-01. Let’s break down the process into clear steps, so you can claim your refund without […]
Key GST Updates for April 2025: Changes in GSTR-1, GSTR-1A & GSTR-3B You Must Know
The Goods and Services Tax Network (GSTN) has introduced important updates that will apply from the April 2025 tax period. These GST updates focus on changes in Table-12 of GSTR-1/GSTR-1A and Table 3.2 of GSTR-3B. Businesses must understand these changes to file returns correctly and avoid compliance issues. Let’s take a closer look at the […]
GST on Real Estate in India: A Simplified Overview for Homebuyers and Developers
The implementation of the Goods and Services Tax (GST) brought significant changes across industries in India, and the real estate sector is no exception. Understanding the GST implications on residential properties is vital for both developers and homebuyers. This blog simplifies the GST framework on real estate, its historical evolution, and its impact on property […]
The Entrepreneur’s Mind: Steering the Senses for Success
Bhagavad Gita: Chapter 2.67 Sanskrit Verse: इन्द्रियाणां हि चरतां यन्मनोऽनुविधीयते | तदस्य हरति प्रज्ञां वायुर्नावमिवाम्भसि || Translation: “As a boat on the water is swept away by a strong wind, even one of the wandering senses on which the mind focuses can carry away a person’s intelligence.” The Entrepreneurial Lens: The Power of a Focused […]
GST Waiver Applications: Common Challenges and Solutions
Filing waiver applications (SPL 01/SPL 02) under the GST waiver scheme has presented several challenges for taxpayers. The Goods and Services Tax Network (GSTN) has acknowledged these issues and is working towards resolving them. Meanwhile, understanding the problems and available solutions can help taxpayers navigate the process smoothly. Challenges Faced While Filing GST Waiver Applications […]
AI & Automation: Transforming Industries
In todays rapidly evolving business landscape, the convergence of Artificial Intelligence (AI) and Automation is driving unprecedented levels of efficiency, innovation, and transformation. While automation has long been a cornerstone of streamlining processes, the infusion of AI is taking it to a whole new level. Whats the Buzz About? Were moving beyond simple, rule-based automation […]
How to Track Your GST Refund Application Status on the GST and PFMS Portals
Introduction For businesses and taxpayers, tracking GST refund applications is crucial to ensure timely processing and disbursal of funds. The Goods and Services Tax (GST) portal and the Public Financial Management System (PFMS) portal provide mechanisms to monitor the progress of refund applications. This guide will help you navigate both platforms efficiently. Understanding the GST […]
The Importance of Tracking Cash Flow for Business Growth
Cash flow tracking is essential for businesses because it allows them to monitor not only the accounts receivable but also the available capital they have on hand when it is needed. Even if a business appears to be profitable based on a financial report, failure to have adequate available cash will always hinder its day-to-day […]