Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Notification amends the Integrated Goods and Services Tax (IGST) rate schedule per Council recommendations, effective mostly 22 September 2025 (with some explanatory changes effective 1 April 2025). Multiple service rates are revised-several items raised from 12% to 18%, certain transport/multimodal, renting of goods carriage, specified job-work, beauty/well-being and delivery/postal/courier/local delivery services set at 5%, job-work for diamonds at 1.5%, and specified items at 40%. Several entries impose conditional input tax credit restrictions and carve-outs. New or clarified definitions (e.g., goods transport agency, multimodal transporter, mode of transport, recognised sporting event, handicraft goods) are inserted.
Notification amends the Integrated Goods and Services Tax (IGST) rate schedule per Council recommendations, effective mostly 22 September 2025 (with some explanatory changes effective 1 April 2025). Multiple service rates are revised-several items raised from 12% to 18%, certain transport/multimodal, renting of goods carriage, specified job-work, beauty/well-being and delivery/postal/courier/local delivery services set at 5%, job-work for diamonds at 1.5%, and specified items at 40%. Several entries impose conditional input tax credit restrictions and carve-outs. New or clarified definitions (e.g., goods transport agency, multimodal transporter, mode of transport, recognised sporting event, handicraft goods) are inserted.
Note: It is a system-generated summary and is for quick reference only.
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