Tax deduction compliance and payee income recognition govern consultancy disallowance, while no exempt income prevents related expenditure disallowanc...
Derivative abetment liability fails when correctly declared imported components establish no underlying improper importation by the principal importer...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
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The tax authority, acting on the Council's recommendation and under statutory power, exempts registered persons whose aggregate turnover in a financial year does not exceed Rs. 2 crore from the obligation to file the GST annual return for that financial year, effective for FY 2024-25 onwards. The exemption relieves eligible small taxpayers of the annual return filing requirement while leaving other compliance and assessment provisions unaffected. Registered persons should verify turnover thresholds and maintain records to substantiate eligibility.
The tax authority, acting on the Council's recommendation and under statutory power, exempts registered persons whose aggregate turnover in a financial year does not exceed Rs. 2 crore from the obligation to file the GST annual return for that financial year, effective for FY 2024-25 onwards. The exemption relieves eligible small taxpayers of the annual return filing requirement while leaving other compliance and assessment provisions unaffected. Registered persons should verify turnover thresholds and maintain records to substantiate eligibility.
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