Input Tax Credit (ITC) is an important part of GST compliance for many businesses. When eligible ITC is available, it can reduce the amount of output tax that needs to be paid through the electronic cash ledger. But what happens when the credit becomes restricted or unavailable for utilization ?…

Receiving a GST Show Cause Notice (SCN) can be stressful, especially when the notice mentions tax liability, Input Tax Credit (ITC), interest, penalty or other compliance issues. But the first thing a taxpayer should understand is simple: A GST Show Cause Notice is not, by itself, a final determination of…

Getting an Income Tax refund can make taxpayers feel that their ITR filing process is finally over. But what happens if an Income Tax notice arrives after the refund has already been credited to your bank account? This situation can understandably create confusion. Many taxpayers assume that once their refund…

Introduction Many taxpayers believe that once an order is passed by the Commissioner of Income Tax (Appeals), the litigation process comes to an end. However, that is not always the case. Under the Income Tax Act, there are multiple Higher Appellate Remedies under Income Tax available if either the taxpayer…

Introduction Receiving a tax demand from the Income Tax Department can create immediate financial stress for taxpayers, especially when they believe the demand is incorrect and have already decided to challenge it. A common question in such situations is: Watch the Complete Video Explanation This topic has also been explained…