September 2024

Overview of the 54th GST Council Meeting: Key Decisions & Their Implications

Leave a Comment / Blog, Finance, Income Tax, Taxation /

The 54th GST Council Meeting, chaired by Union Finance Minister Nirmala Sitharaman on 9th September 2024, brought forward significant reforms aimed at simplifying GST compliance, offering sector-specific relief, and addressing ambiguities in existing regulations. These decisions are expected to impact various sectors, such as insurance, healthcare, transport, and R&D, while also setting the stage for […]

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Understanding Section 73 of CGST Act: Key to Tax Compliance

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The Goods and Services Tax (GST) system in India, governed by the CGST Act, 2017, is designed to streamline the taxation process for businesses and ensure compliance. However, there are instances where tax is either short-paid, unpaid, or erroneously refunded, or input tax credit (ITC) is wrongly availed or utilized. Section 73 of the CGST

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Buying Property from an NRI? Avoid Costly Mistakes!

Leave a Comment / Blog, Finance, Income Tax, Taxation, Travel /

Purchasing property is already a complex process, but when the seller is a Non-Resident Indian (NRI), the process becomes even more intricate due to stringent regulations and tax implications. Here, we break down the essential points every buyer should know before entering into a real estate transaction with an NRI seller. 1. Higher TDS Liability

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