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CESTAT Ruling Clarifies Scope of Cenvat Credit for Manufacturing Input Services
CESTAT's landmark ruling clarifies Cenvat credit eligibility for manufacturing input services, broadening scope and resolving long-standing disputes.
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Pune ITAT Caps Contract Profit Estimation at 8%, Providing Significant Relief to Taxpayers
The Pune bench of the Income Tax Appellate Tribunal (ITAT) delivered a landmark ruling this week, declaring that an 18% net profit estimation on contract receipts is excessive without concrete…
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ITAT Rules Cash Deposits in Medical Business Are Not Fully Taxable Under Section 69A
Clarifying Tax Treatment for Business Cash DepositsIn a significant ruling for small-scale retailers, the Income Tax Appellate Tribunal (ITAT) has clarified that cash deposits made into a medical store's bank…
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GST Annual Compliance Review 2025-26: Critical Deadlines and Strategic Rectification
As the fiscal year 2025-26 approaches its close, businesses operating in India face a critical window to rectify Goods and Services Tax (GST) reporting discrepancies before the statutory deadline of…