Mandatory ISD Registration Under GST – A Critical Update for Businesses
Effective from April 1, 2025, Input Service Distributor (ISD) registration under GST will become mandatory for businesses that receive input service invoices centrally and distribute input tax credit (ITC) to different branches. This change will significantly impact multi-state businesses, making compliance with the ISD framework crucial. What is an Input Service Distributor (ISD)? An ISD […]
Foreign Income Disclosure: What You Need to Know About the Department’s Latest Advisory
Public advisory issued by the department as part of compliance-cum-awareness campaign regarding disclosure of Foreign Income Assets. Note – Foreign assets include foreign bank account, foreign cash value insurance, financial interest in any business/entity, immovable property outside India, foreign equity or debt interest, accounts in which a taxpayer has signing authority, and any other […]