April 21, 2026 admin The Union Budget 2026 brought a significant relief for Indian exporters – the removal of the ₹1,000 minimum threshold for GST export refund claims. Under Section 54(14) of the CGST Act, 2017, refund claims below ₹1,000 were previously rejected outright, leaving small exporters with no recourse. Finance Bill 2026 (Clause 139) […]
GST Export Refund Relaxation 2026: ₹1,000 Minimum Threshold Removed Read More »
April 20, 2026 admin If your business has crossed ₹5 crore in annual turnover at any point since FY 2017-18, you are legally required to generate e-invoices under India’s GST framework and failing to do so can result in serious penalties. E-invoicing became mandatory for businesses above ₹5 crore from August 1, 2023, under GST
E-Invoicing Threshold of ₹5 Crore Under GST Read More »
April 18, 2026 admin Missing an Income Tax Return (ITR) deadline can cost you money – in penalties, interest, and even the loss of certain tax benefits. This guide covers every ITR filing due date for FY 2025-26 (AY 2026-27), whether you are a salaried individual, a business owner, or subject to a tax audit.
ITR Filing Due Dates for FY 2025-26 (AY 2026-27) Read More »
April 17, 2026 admin If you run a business or practice as a professional in India, understanding tax audit requirements under the Income Tax Act is critical for staying compliant. For FY 2025-26 (AY 2026-27), the rules under Section 44AB govern who must get their books audited and by when. This guide covers who needs
Tax Audit Applicability for FY 2025-26 Read More »
April 16, 2026 admin The 56th GST Council meeting held on September 3, 2025 brought one of the biggest relief measures for Indian businesses dealing with post-sale discounts. The government has amended Section 15(3)(b) and Section 34 of the CGST Act, removing the long-standing requirement of a pre-supply agreement before a discount can reduce taxable
GST Post-Sale Discounts & Credit Notes Explained Read More »
April 15, 2026 admin Claiming Input Tax Credit (ITC) under GST has never required more precision than it does in 2026. The full rollout of the Invoice Management System (IMS) from October 2025, combined with GSTR-3B hard-locking on the horizon, has fundamentally changed how businesses must approach ITC. One wrong step – a missed IMS
5 Key ITC Claim Risks in GST 2026 Read More »
April 15, 2026 admin Filing GSTR-1 correctly is one of the most critical compliance tasks for every GST-registered business in India. A single error in GSTR-1 for FY 2026-27 can lead to ITC denial for your buyers, reconciliation mismatches in GSTR-3B, and even department notices. This article covers the five most common GSTR-1 mistakes taxpayers
Top 5 Mistakes in GSTR-1 Filing (FY 2026-27) and How to Fix Them Read More »
April 9, 2026 admin Every year, millions of Indians wonder whether they actually need to file an Income Tax Return (ITR). Many assume that if no tax is due, filing is optional. That is not always true. The Income Tax Act specifies several situations where ITR filing is mandatory, regardless of whether you owe any
ITR Filing Is Compulsory in These Cases – Are You Required to File? Read More »
April 8, 2026 admin The Income Tax Department has revamped the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal with a new interface and updated navigation. For all compliance work related to Financial Year 2025-26 and earlier periods, users must now select ‘Compliance under Income Tax Act, 1961’ from the menu after logging in.
TRACES Portal Revamped Read More »
April 7, 2026 admin April 2026 is a critical month for Indian taxpayers and businesses. Multiple GST and Income Tax deadlines fall within this single month, and missing even one can trigger interest, late fees, and tax department notices. This article walks you through every key compliance deadline for April 2026, what happens if you
April 2026 GST and Income Tax Due Dates Read More »
