New CBIC Guidelines to Streamline GST Registration Process: Instruction No. 03/2025-GST
On
April 17, 2025, the Central Board of Indirect Taxes and Customs (CBIC) issued
Instruction No. 03/2025-GST, offering a comprehensive set of guidelines aimed
at resolving common hurdles faced during GST registration. The instruction
comes as a much-needed reform to standardize the verification process and
eliminate unnecessary documentation demands that often delay or derail genuine
registrations.
- 21st Apr 2025
- Category: Taxation
- views: 136
BUDGET 2025-2026
On
February 1, 2025, India's Finance Minister presented the Union Budget for the
fiscal year 2025-2026. Themed "Sabka Vikas" (Inclusive Growth), it
focuses on economic growth, tax relief, and investments in key sectors like
agriculture, MSMEs, innovation, and infrastructure.
- 8th Feb 2025
- Category: Taxation
- views: 126
Section 194T Compliance is Mandatory from 1st April 2025!
Effective from 1st April 2025, the Income Tax Act
introduces a new compliance requirement under Section 194T for payments made to
partners. If a firm makes payments such as salary, bonus, commission, or
interest to its partners exceeding ?20,000 during a financial year, it will be
liable to deduct TDS (Tax Deducted at Source) at the rate of 10%.
- 21st Jan 2025
- Category: Taxation
- views: 125
Time of Supply in GST
The Time of Supply under GST determines when GST
liability arises. Understanding these rules is essential for timely compliance
and accurate tax payments.
- 16th Jan 2025
- Category: Taxation
- views: 120
