The Budget 2025 proposes changes in GST laws for ensuring trade facilitation.
GST collections for January 2025 soared to ₹1.96 lakh crore, marking a robust 12.3% year-on-year increase from ₹1.74 lakh crore in January 2024.
Removal of higher TDS/TCS for non-filers of return of income
Rationalisation of transfer pricing provisions for carrying out multi-year arm's length price determination
Rationalisation of provisions related to carry forward of losses in case of amalgamation
Clarification regarding commencement date and the end date of the period stayed by the Court
Time limit to impose penalties rationalisedimposition of penalties in var
Amendments proposed in sections 132 and 132B for rationalising provisions
Non-applicability of Section 271AAB of the Act The existing provisions of sub-section (1A) of section 271AAB of the Act relates to penalty in respect of searches initiated after 15.12.2016.
Amendments proposed in provisions of Block assessment for search and requisition cases under Chapter XIV-BVide Finance (No. 2) Act, 2024, the concept of block assessment was introduced by amending provisions of Chapter XIV-B
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)