# ret
12 posts in `ret` tag
GST Annual Return Simplified: Key ITC Changes in GSTR-9 & GSTR-9C for FY 2024-25
A simplified guide to ITC changes in GSTR-9 and GSTR-9C for FY 2024-25, covering late claims, reversals, reclaims, and reconciliation requirements.
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By Krishna
CBDT Refund Delay: What Taxpayers Should Know
There is no halt on refund processing by CBDT. Only high-risk refund claims are being held for verification, while smaller refunds are being processed normally. Most legitimate refunds are expected to be released by December.
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By Krishna
Foreign Assets Alert: Avoid Heavy Penalties by Updating Returns
The Income Tax Department has warned about 25,000 taxpayers to review and revise AY 2025-26 returns for foreign assets and income by December 31, 2025. Non-reporting can lead to a 10 lakh fine and up to 300% penalty. Last year’s drive led to major disclosures. Act now to stay compliant.
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By Krishna
The Big Payback: How New Labour Codes Boost Your Retirement
A simple guide to how India’s new Labour Codes change salary structures, reduce take-home pay, and boost PF and gratuity, creating a larger retirement corpus.
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By Krishna
Tax Alert: Foreign Assets Under Scanner Fix Your ITR Before 31 December
The Income Tax Department is sending alerts to people who may have foreign bank accounts, investments or property that are not shown in their Income Tax Return. If you get this message, you must check and revise your ITR before 31 December 2025 to avoid big tax and penalties under the Black Money Act.
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By Krishna
GST Alert: Supreme Court Intervenes on Crucial ITC Denial Issue
The Supreme Court of India, in the interim order of Roshan Sharma v. Deputy Commissioner of Revenue, State Tax & Anr., has issued notice and stayed the High Court's order, agreeing to consider the validity of Input Tax Credit (ITC) denial solely because of the retrospective cancellation of a supplier's GST registration. The case also centrally addresses the violation of natural justice due to the denial of cross-examination and access to crucial evidence like Fastag data.
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By Krishna
MVAT & PT Returns Deadline Extended for October 2025 Updated Filing Schedule
The Maharashtra government has extended the deadlines for filing MVAT and Professional Tax returns for October 2025. Payment due dates remain unchanged, and interest applies if taxes are paid late. Taxpayers now have additional time to file returns correctly and avoid late fees. This update helps businesses manage compliance efficiently and avoid penalties by following the revised dates.
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By Krishna
New Income Tax Return Forms and Rules: What You Need to Know
The government is set to introduce simplified income tax return forms under the Income Tax Act, 2025 by January 2026, replacing the long-standing Income Tax Act, 1961. These new forms aim to make tax filing easier, reduce compliance burdens, and improve transparency. Refunds are being processed, with larger claims expected by December 2025. The CBDT is confident of meeting its ambitious ₹25.20 lakh crore direct tax collection target for FY26, supported by strong growth. Taxpayers should prepare for the new system, which takes effect from April 1, 2026.
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By Krishna
Key Changes in GSTR-9 and GSTR-9C for FY 2024-25: Everything You Should Know
The GST portal has opened GSTR-9 and GSTR-9C for FY 2024-25 with a filing deadline of December 31, 2025. This guide explains the key changes in both forms, filing thresholds, auto-population details, and practical tips to file on time and avoid penalties—written in clear, simple language.
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By Krishna
EPF Interest Tax Rule 2025: What You Need to Know
The EPF interest taxation rule introduced in 2021 is now a permanent reality in 2025. Contributions above 2.5 lakh (5 lakh for government employees without employer contribution) attract tax on interest. EPFO maintains separate taxable and non-taxable accounts, with TDS applied on taxable interest. High earners must now plan carefully, track contributions, and explore other investment options to optimize returns.
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By Krishna
Suo Moto Cancellation of GST Registration: Reasons, Process & How to Revoke It
This blog explains what Suo Moto cancellation of GST registration means, why it happens, and how businesses can respond and apply for revocation. It includes the reasons, forms, timelines, and tips to stay compliant.
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By Krishna
GST Compliance Calendar November 2025
This blog provides a clear and simple calendar of all key GST return filing dates for November 2025. It helps GST-registered taxpayers stay compliant, avoid penalties, and plan their filings in advance.
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By Krishna