Goods & Service Tax - GST

16/08/2026

Income Tax Search (CBDT Guidelines)

Cash Seized During Search
- Up to ₹10 Lakhs = Generally Not Seized (If explained/regular assessee)
- Exceeds ₹10 Lakhs = Can be seized if unexplained / undisclosed source

Jewellery Limits (No Seizure Allowed by IT Dept)
- Married Female = Up to 500 grams
- Unmarried Female = Up to 250 grams
- Male Member = Up to 100 grams

Note:
1. Limits apply per family member during an Income Tax raid.
2. If jewellery matches wealth tax returns/books, no upper limit applies.
3. Sovereign gold coins/bars are not covered under these relaxation limits.

04/08/2025

GST on Supply of Crypto or Digital Assets

In Budget 2022, our honourable Finance Minister announced a levy of income tax at the rate of 30% on gains realised on the transfer of virtual digital assets. Tax at the rate of 1% needed to be deducted on every trade. Losses arising from virtual digital assets cannot be utilised or set off against any source income.

04/08/2025

UPI and GST

*Not Everything Is Taxable Under GST*

It's important understand that not all transactions are subject to GST. For example, everyday essentials like fresh fruits, vegetables, and unpackaged grains are exempt from GST. Small vendors whose yearly turnover is below Rs. 40 lakhs in case of supplier of goods (or Rs. 20 lakhs for service providers) don't need to register for GST or charge it to customers, except for some exceptional cases provided under the GST Law. So, just because a vendor accepts UPI payments doesn't mean they automatically owe GST—unless they're selling taxable goods or services and their income exceeds the threshold.

04/08/2025

Third party organization doing marketing of Yoga course & collecting fee for Yoga institution is not exempted from GST: AAR

04/08/2025

Marine engines/spares attract 5% GST only if used in fishing vessels; marine engine oil is lubricant & liable to 18% GST: AAR

01/02/2025

Budget 2025: Breaking New No Income Tax on Income Up to 12 Lakh Rupees.

Limit is 12.75 Lakh for salaried considering Standard Deduction of 75000

01/02/2025

Time limit for updated Income Tax return increased from 2 to 4 Years - Budget 2025.

01/02/2025

BUDGET BIG BREAKING

No income tax Upto income of 12 lakh

28/01/2025

28/01/2025

GST Portal Activates LUT Filing for FY 2025-26: Ensure Seamless Exports Without IGST!