GST
Rule 31D under GST: MRP-Based Valuation Explained (Effective 1 February 2026)
The GST valuation framework has witnessed a significant shift with the insertion of Rule 31D of the CGST Rules, 2017, notified vide Notification No. 20/2025 - Central Tax dated 31 December 2025, effective from...
Income Tax
Section 54 is about Intent, Not Brick-by-Brick Completion
Tax law often forgets one thing: real life doesn’t move at the speed of statutes.Construction approvals get delayed. Plans change. Timelines slip.
The Kolkata Bench of the ITAT has now reaffirmed this reality in a...
Income Tax
Gujarat High Court Clarifies: Section 147 and Section 153C Cannot Be Used Interchangeably
Background: Why this Case was Important~
Under the Income-tax Act, the department has different provisions to reopen or reassess income. Two such provisions are:
• Section 147 – used when the Assessing Officer (AO) believes that...
GST
ITC Cannot Be Denied for Supplier Default!
Tripura High Court Protects Genuine Taxpayers
Input Tax Credit (ITC) is the backbone of the GST framework. For businesses, it is not an incentive—it is a statutory mechanism to avoid tax cascading.
Yet, one concern continues...
Articles
Section 54 exemption was allowed even with ₹0 invested in Capital Gain Account Scheme.
Section 54 is a beneficial provision intended to encourage investment in residential housing by granting exemption from LTCG tax. However, taxpayers often face disallowance due to procedural lapses, particularly non-deposit of unutilized gains in the...
Articles
5 Major GST Changes from 1st January 2026
The beginning of 1st January 2026 marks a critical compliance shift under GST laws in India. Several deadlines lapse on 31st December 2025, and multiple system-driven restrictions and consequences become applicable thereafter.
Missing these changes can result in late fees, interest,...
Income Tax
A Familiar Fear: “If the Tax Credit is there… so where is the Income?”
Every taxpayer has faced this moment.
You open your Form 26AS, You see tax already deducted, And then comes the question from the department:
“If tax was deducted, why haven’t you shown the income?”
That's exactly the situation the Delhi...
GST
Why prices of Sin goods are rising: GST, Cess and the Real Impact on Consumers
In recent months, consumers across India have noticed a steady increase in the prices of sin goods such as cigarettes, tobacco and pan masala. This has naturally led to questions: Has GST increased? Why are prices rising...
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