Introduction Under the Goods and Services Tax (GST) regime, credit notes play a vital role in correcting commercial transactions after invoices are issued. With recent changes in GST compliance mechanisms, including tighter return controls and the evolving Invoice Management System (IMS), traders are facing new operational and legal challenges. This article explains the law relating…
Introduction – Why Classification Still Matters under GST 2.0 Even after several years of GST implementation, disputes relating to Composite Supply Vs Mixed Supply continue to arise. Under GST 2.0, incorrect classification of supply often results in tax demands, interest, and penalty, even where there is no intention to evade tax. For businesses, MSMEs, Chartered…
(Based strictly on official GST Council discussions, CBIC papers, and confirmed Government directions up to Dec 2025.) Input Tax Credit (ITC) remains the backbone of the Goods and Services Tax system. With the Government’s ongoing work toward GST 2.0, major reforms have been discussed by the GST Council to reduce fraud, strengthen invoice matching, and…
Introduction Micro, Small and Medium Enterprises (MSMEs) form the backbone of the Indian economy. Goods and Services Tax (GST) was introduced with the intention of creating a simple and unified indirect tax system. However, over time — especially after the enhanced compliance framework, often informally referred to as GST 2.0 Compliance Burden on MSMEs —…
The Supreme Court of India has, in recent years, taken very serious note of the massive pendency of cheque-bounce cases under Section 138 of the Negotiable Instruments Act, 1881 (NI Act). These cases alone form a very large portion of the criminal docket in trial courts across the country. Two sets of directions are now…
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