Factual Background During inspection or search proceedings conducted at the business premises under Section 67 of the CGST Act, the Proper Officer alleges discrepancy or excess stock vis-à-vis books of accounts and statutory records. Based on such alleged excess stock, proceedings are initiated directly under Section 130 (Confiscation) of the Act. Core Legal Issue Whether […]
📊 Union Budget 2026 – Key Tax Takeaways Union Budget 2026 is clearly an income-tax driven Budget, with strong emphasis on procedural reforms, compliance rationalisation and penalty restructuring, while GST changes remain limited following the 56th GST Council recommendations. At P Chhajed & Co LLP – Chartered Accountants, we analysed and summarised almost all the[…..]
Dear Readers, As per the decisions of the 56th GST Council Meeting, the revised rates of goods / services are being applicable from 22nd September, 2025 (except for Pan Masala, Tobacco etc.) and various notifications were issued by CBIC on 17th September, 2025 notifying the revised rates from 22nd September, 2025. The revised rates can[…..]
Analysis of the Decisions made at 56th GST Council Meeting dated 3rd September 2025 The detailed analysis can be accessed at; GST 2.0 – Detailed Presentation The detailed change in rates of goods and services can be accessed at; GST Rates for Goods and Services – Effective from 22nd September 2025
