April 27, 2026 admin GST compliance errors are one of the biggest reasons businesses receive tax notices, pay unnecessary interest, and face penalties during audits. From GSTR-1 and GSTR-3B mismatches to incorrect Input Tax Credit (ITC) claims, even small reporting mistakes can have serious financial consequences. This article covers the 8 most common GST compliance […]
8 Common GST Compliance Errors and How to Fix Them Read More »
April 25, 2026 admin The Reverse Charge Mechanism (RCM) under GST flips the usual tax payment rule – instead of the supplier paying GST, the recipient becomes responsible. This guide explains how RCM works, which transactions it applies to, and what changed in 2025-26, including key updates on renting, sponsorship services, and GTA. Whether you
Reverse Charge Mechanism (RCM) Under GST Read More »
April 24, 2026 admin From April 1, 2026, India’s Tax Collected at Source (TCS) rules under the Liberalised Remittance Scheme (LRS) have changed significantly. The government has introduced a flat 2% TCS rate on overseas tour packages, foreign remittances for education, and medical expenses – replacing the older, complicated slab system. This article explains exactly
TCS Simplified: What the Flat 2% Rate Means for Your Foreign Remittances in 2026 Read More »
April 23, 2026 admin If you are buying property from an NRI in India, the compliance process just got significantly simpler. Budget 2026-27 introduced a key change: resident buyers no longer need to obtain a Tax Deduction Account Number (TAN) to deposit TDS on NRI property transactions. Instead, they can now use their existing PAN
NRI Property TDS: How PAN Now Replaces TAN Read More »
April 22, 2026 admin Starting April 1, 2026, India’s long-familiar Form 16 – the annual salary TDS certificate – has been officially replaced by Form 130 under the new Income Tax Act, 2025. While the core purpose remains unchanged (certifying how much tax your employer deducted and deposited with the government), the new form brings
Form 130 Replaces Form 16: What Every Salaried Employee and HR Team Must Know Read More »
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 »
