Interest Waivers in Tax Administration
Interest waivers play a crucial role in tax administration by offering relief to taxpayers facing genuine hardships while encouraging compliance with tax laws. When taxpayers fail to meet their tax…
E-Invoicing in the GST Framework and New Reporting Deadline
What is e-Invoicing? E-invoicing is a system where businesses electronically generate and authenticate invoices in a standard format on a designated portal. This process ensures real-time tracking of invoices and…
Understanding Form DRC-03A in the GST System
In the Goods and Services Tax (GST) system, taxpayers may sometimes make voluntary payments that are not directly tied to a specific demand or liability. These payments could be made…
Introduction to GST Relief Measures in India
The Goods and Services Tax (GST) Council in India has implemented various relief measures to improve tax compliance, simplify business operations, and foster research activities. The recent GST Council meeting,…
Unsecured loans proved to be genuine hence disallowance of interest u/s. 36(1)(iii) Ardor Overseas Pvt. Ltd. Vs DCIT (ITAT Ahmedabad)
Case Introduction: Ardor Overseas Pvt. Ltd. vs. DCIT Unsecured Loans in Business Financing Unsecured loans play a significant role in business financing as they provide access to funds without requiring…
Balancing Act: CBIC Guidelines for Tax Evasion Investigations
Introduction: The Need for Balance The globalized economy relies heavily on the seamless flow of imports and exports. However, this flow can be disrupted by the need to investigate tax…