Under Section 16(4) of the CGST Act, November 30, 2026 is the final statutory deadline to claim missed FY 2025–26 Input Tax Credit (ITC), declare credit notes under Section 34(2), amend GSTR-1 invoice errors, and execute mandatory Rule 37A ITC reversals before filing Form GSTR-9 and GSTR-9C by December 31, 2026. Every year around late …
GST Council’s October 2026 Reforms: What Changes for Indian Businesses and What Doesn’t Yet The 56th GST Council meeting, in September 2025, was about rates. The 57th, held in New Delhi on 8 October 2026, was about something finance teams feel more often: how the tax is administered day to day. Registration, returns, refunds, notices, …
There have been many changes in the landscape of Virtual Digital Assets (VDAs) in India over recent years. As most of the news continues to focus on the 30% flat income tax as well as the 1% Tax Deducted at Source (TDS), there is a hidden and rather complex monster that is not getting enough …
Currently, the Indian startup ecosystem holds the distinction of being the third-largest globally. But with high levels of growth, comes the burden of being regulatory compliant. For many entrepreneurs, GST can simply be considered “a backend administrative function” until there comes an occasion of Suo Motu Audit. Suo Motu Audit refers to an inspection …
The digital landscape of Indian taxation is evolving at a breakneck pace. From the manual ledgers of the past to the real-time reporting of today, the Goods and Services Tax (GST) framework has undergone a massive transformation. One of the most significant shifts in recent times is the implementation of the 30-day e-invoicing rule. While …
In the high-stakes world of Indian retail and manufacturing, “discounts” are the fuel that keeps the engine running. Whether it’s a Year-End Sale, a Volume-Based Rebate, or a “Buy One Get One Free” (BOGO) extravaganza, discounts are everywhere. However, for a long time, the Goods and Services Tax (GST) regime made offering these discounts a …
The letters “GST” were once a badge of honor for a simplified and integrated taxation system in India. Although it has definitely made the indirect tax regime simpler, the fact is that for most taxpayers, GST compliance has become a high-stakes game. With the transition to an enforcement regime that is system-driven, as evident in …
The Goods and Services Tax (GST) landscape in India is undergoing a seismic shift from a “trust-based” compliance model to a “system-driven” enforcement regime. For years, taxpayers enjoyed a certain level of flexibility while filing their summary returns in Form GSTR-3B. Errors were often corrected in subsequent months, and warnings on the portal were merely …
People are talking about the GST exemption on Life and Health insurance because it can help you save money. You need to understand what the new GST exemption on Life and Health insurance means for you. The new GST exemption on Life and Health insurance is important because it affects your Life and Health insurance. …
By Ruchi Anand and Associates – Your Trusted Advisors in Tax Compliance & Advisory India’s Goods and Services Tax (GST) regime, launched in 2017, has undergone a transformative upgrade with GST 2.0, effective from September 22, 2025. This rationalization, approved by the 56th GST Council, simplifies slabs, corrects inverted duty structures, and directly impacts high-stakes …