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Finance Minister Nirmala Sitharaman’s budget team: Meet THESE 5 faces behind Union Budget 2025 January 27, 2025by Pooja Gupta Rate this post Finance Minister Nirmala Sitharaman will present Union Budget 2025-26, her eighth consecutive budget, on February 1. Continued spending on infrastructure, welfare schemes, and focus on fiscal prudence will [...]
Updated RCM List: Services Covered Under RCM (Effective from January 2025) January 28, 2025by Pooja Gupta Rate this post The Reverse Charge Mechanism (RCM) under GST requires the recipient of specified services to pay tax instead of the supplier. Effective January 2025, certain revisions have been introduced. RCM on supply [...]
Circular No. 245/02/2025-GST: Clarifications for GST on Certain Services January 29, 2025by Pooja Gupta Rate this post The 55th GST Council Meeting held on December 21, 2024, at Jaisalmer, provided several key clarifications and amendments to the applicability of GST on specific services. These updates aim to resolve ambiguities, regularize [...]
Insurance Sector Relief: No GST on Co-Insurance Premium Apportionment & Reinsurance Commission January 29, 2025by Pooja Gupta Rate this post The 53rd GST Council Meeting held on June 22, 2024, in New Delhi, introduced significant amendments concerning co-insurance premium apportionment and reinsurance commission. The Council recommended including these transactions in [...]
20 GST Compliance to do from Feb 2025 for New FY 2025-26: New features on GST Portal January 30, 2025by Pooja Gupta Rate this post As the financial year 2025-26 approaches, it’s essential for businesses to ensure compliance with Goods and Services Tax (GST) regulations. Below is a comprehensive checklist [...]
No GST on penal charges levied by banks: CBIC January 30, 2025by Pooja Gupta Rate this post Goods and Services Tax (GST) will not be applicable on penal charges levied by banks and non-banking finance companies (NBFCs), the CBIC has said. The Central Board of Indirect Taxes and Customs (CBIC) [...]
GST Rate Changes for Restaurant / Outdoor Catering Services Provided by Hotels from 1 April 2025 you must know and prepare for January 30, 2025by Pooja Gupta Rate this post Effective from April 1, 2025 📜 Notification No. 05/2025-Central Tax (Rate) & 08/2025-Central Tax (Rate) dated January 16, 2025 Key [...]
Late Fee on GSTR-9C: GSTN Issues Clarificatory Circular 46/03/2025 January 30, 2025by Pooja Gupta Rate this post GST Circular No. 46/03/2025-GST, Dated 30 January 2025 Clarification on Applicability of Late Fee for Delay in Furnishing FORM GSTR-9C Background Representations have been received seeking clarification on the levy of late fees [...]
Finance Bill 2025 February 1, 2025by Pooja Gupta Rate this post Link to Download Finance Bill 2025 Link to Download Memorandum Explaining the Provisions in the Financial Bill Link to Download Budget Highlights (Key Features) Visit www.cagurujiclasses.com for practical courses Pooja Gupta CA Pooja Gupta (CA, ISA, M.com) having 15 [...]
SUMMARY New tax Regime vs Old Regime Income-tax Calculator 2025: Both tax regimes have their own set of benefits and drawbacks. With the help of our Income-tax calculator, you make an informed decision by comparing your tax liability under both regimes. Please note, that the tax calculator will help you [...]
