Topic
tax compliance
Business GST Boost: Maharashtra Emerges as India’s Top State Tax Contributor, Says India Ratings
Maharashtra has become the largest contributor to state tax revenue under GST, driven by high consumption and a large services sector. India Ratings & Research reports a sharp improvement in tax buoyancy and a doubling of the taxpayer base since the reform. The state's share rose to 20.4% in the post-GST period.
Regulations & Compliance Firm Moved to a New GST Jurisdiction? CBIC Clarifies How Pending Cases Will Be Handled
The Central Board of Indirect Taxes and Customs (CBIC) has issued a circular clarifying that when a registered taxpayer moves to a new GST jurisdiction, the new jurisdictional authority will take over and complete all ongoing proceedings—including investigations, audits, show cause notices, and adjudications—from the stage at which they were transferred. This removes ambiguity that previously caused jurisdictional objections and delays.
Finance ITR Filing FY 2025-26: Essential Document Checklist and Penalty Risks for Finance Professionals
With the July 31 ITR filing deadline approaching, taxpayers must gather critical documents including Form 16, AIS/TIS, and Form 26AS. Late filing incurs penalties of ₹1,000 to ₹5,000, and those opting for the old tax regime may lose benefits if they miss the due date.