February 27, 2025

The Union Budget 2025-26, unveiled by Finance Minister Nirmala Sitharaman, marks a significant milestone in India’s economic policy landscape. Aimed at stimulating growth, enhancing compliance, and providing relief to taxpayers, the budget introduces comprehensive reforms in both Goods and Services Tax (GST) and Income Tax. This article delves into the pivotal policy shifts, analyzing their …

From GST to Income Tax: Biggest Policy Shifts in Union Budget 2025 Read More »

The Goods and Services Tax (GST) law in India has undergone several amendments to streamline compliance and reduce the burden on taxpayers. One such significant amendment is the introduction of Section 128A (1), which provides relief from interest and penalties under specific conditions. However, it is essential to understand that this waiver is not automatic; …

GST Section 128A (1): Waiver of Interest or Penalty – Key Provisions and Implications Read More »

The Union Budget 2025 has been eagerly anticipated by businesses across India, especially traders and industries that have been looking for reforms, tax relief, and simplifications in the Goods and Services Tax (GST) framework. Given the evolving economic landscape, businesses expect significant measures to boost economic growth, ease compliance burdens, and create a more business-friendly …

Major Announcements for Traders & Industries Read More »

The introduction of the Goods and Services Tax (GST) Amnesty Scheme has provided much-needed relief to taxpayers facing financial burdens due to penalties and interest on unpaid or late-paid tax liabilities. The scheme aims to promote compliance by offering a waiver of interest, penalties, or both under certain conditions. It provides a second chance for …

GST Amnesty Scheme for Waiver of Interest and Penalty Read More »