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The Finance Bill, 2025, introduced in the Lok Sabha on February 1, 2025, aims to implement the financial proposals of the Central Government for the fiscal year 2025-26. This comprehensive legislation covers amendments across direct and indirect tax regimes, focusing on income tax, customs, excise, and GST. Here are the key highlights: 1. Direct Tax

INDIA`S REAL GDP AND GVA GROWTH ESTIMATED AT 6.4 PER CENT IN FY25 (FIRST ADVANCE ESTIMATES) THE REAL GDP GROWTH TO GROW BETWEEN 6.3 AND 6.8 PER CENT IN FY26 THRUST ON GRASSROOTS-LEVEL STRUCTURAL REFORMS AND DEREGULATION TO BOOST MEDIUM-TERM GROWTH POTENTIAL AND GLOBAL COMPETITIVENESS GEO-ECONOMIC FRAGMENTATION (GEF) IS REPLACING GLOBALIZATION LEADING TO IMMINENT ECONOMIC

State of the Economy: Getting Back into the Fast Lane India`s real GDP growth is estimated at 6.4 per cent in FY25 (as per first advance estimates of national income), which equates nearly to its decadal average. Real gross value added (GVA) is also estimated to grow by 6.4 per cent FY25. The global economy

Under the Goods and Services Tax (GST) regime in India, the e-way bill is a significant compliance possess. It ensures the facilitated movement of goods and averts tax evasion. The blog provides a detailed overview of GST intra-state e-way bill prerequisites for tax professionals, including threshold limits, exemptions, notifications, and other relevant details. GST E-Way

The Finance Bill, 2025, introduces a comprehensive overhaul of India`s indirect tax framework, with significant amendments across Customs, Central Excise, and Goods and Services Tax (GST) laws. These changes aim to streamline tax administration, promote ease of doing business, and align with international trade norms. Customs Act, 1962 – Key Amendments Provisional Assessment Finalization: A

The Kerala government has issued GST Circular No. 3/2025, dated 20th January 2025, providing clarifications and instructions on the issuance of separate notices under Sections 73 and 74 of the Kerala SGST Act, 2017. Directives were issued in the past via Circular No. 06/2023 (dated 08-01-2023) and Circular No. 16/2023 (dated 09-10-2023) to give directions

An important clarification has been provided by the Central Board of Indirect Taxes and Customs (CBIC) regarding the imposition of late fees for the delay in submitting the reconciliation statement in Form GSTR-9C under the Goods and Services Tax (GST) framework through circular number 246. From various representations, the same clarification arrives which urges clarity

The High Court of Kerala in a case ruled that Goods and Service Tax ( GST ) is not demandable in lack of any supply of goods/services. The court validating the findings in the impugned orders has declared that the respondent corporation shall not be qualified to collect the tax under the provisions of the

The Apex Court of India ruled that the employees of Maersk Line India cannot be held liable for Goods and Services Tax (GST) penalties under Section 122(1-A) and Section 137 of the Central Goods and Services Tax Act, 2017 (CGST Act). The Apex Court of India furnished a decision in a Special Leave Petition furnished

The Delhi High Court carried that if the Revenue issues a reassessment notice to a taxpayer under section 148 of the Income Tax Act, 1961 without following procedure, then later it cannot issue a fresh reassessment notice beyond the specified period, claiming that time spent on earlier litigation is to be excluded for computing limitation.