ITC on Goods Damaged, Destroyed by Fire or Stolen: Complete GST Guide 2025
Introduction Have your goods ever been lost, destroyed in a fire, or stolen during transport? Situations like these affect not just your stock, but also your tax credits. According to Section 17(5)(h) of the GST Act, you cannot claim or retain ITC on goods that are lost, stolen, destroyed, written off, or given away as […]
Merchant Exports Under GST: Procedure, Benefits, and Compliance
Merchant exports are an essential part of India’s export ecosystem. The GST framework provides several benefits to these exporters by simplifying compliance and reducing tax outflows. This blog explains the key aspects of merchant exports under GST in a way that’s easy to understand. What Are Merchant Exports? A merchant exporter buys goods locally and […]
GST Fraud Case: Key Lessons from Reliable Trading Company vs. DGGI
The Allahabad High Court recently dismissed a major GST-related writ petition. The case involved M/s Reliable Trading Company, accused of wrongly claiming Input Tax Credit (ITC) using fake suppliers. This decision has sparked interest across the business and tax community. Let’s break it down in plain language and explore what it means for you. Quick […]
How to Use the Make in India Logo the Right Way – A Simple Guide for Businesses
The “Make in India” campaign is a big step taken by the Indian government to support local manufacturing and boost the country’s economy. The campaign has a special lion-shaped logo that helps people easily recognize products and services that are made or designed in India. If your business wants to use the “Make in India” […]
Kerala HC Relief: ITC Mix-Up Doesn’t Invite Penalty
Introduction In a landmark decision, the Kerala High Court ruled that a genuine mistake in classifying Input Tax Credit (ITC) under the wrong head in GSTR-3B does not justify penal action under Section 73 of the CGST Act—provided the total ITC balance is sufficient to cover the tax liability. The judgment, dated April 1, 2025, […]
Missed Your ITR Filing or e-Verification Deadline? Here’s How to Fix It (2025 Update)
If you’ve missed filing your Income Tax Return (ITR) or didn’t e-verify it on time, you’re not alone. Many taxpayers run into this issue each year. Fortunately, the Income Tax Department offers a remedy — the Condonation Request. Think of it as your official request for a second chance to stay compliant without penalties. In […]
ITR Filing Last Date FY 2024-25 (AY 2025-26): Key Deadlines, Benefits & Updates
Filing your Income Tax Return (ITR) is not just a legal requirement—it’s a financial best practice that ensures compliance, prevents penalties, and unlocks various benefits like refunds and loan approvals. As we step into a fresh assessment cycle, it’s crucial to be aware of the ITR filing due dates for FY 2024-25 (AY 2025-26), the […]
HSN & Document Reporting Made Mandatory in GSTR-1 from May 2025
Starting from the May 2025 return period, the Goods and Services Tax (GST) portal is rolling out critical updates for taxpayers. These updates apply to Table 12 (HSN code reporting) and Table 13 (document details) of GSTR-1 and GSTR-1A. These changes follow the phase-wise implementation announced under Notification No. 78/2020 – Central Tax dated October […]