Team BS Tax

Recent Amendments in GST Reverse Charge Mechanism The GST department vide Notification No. 07/2025-Central Tax (Rate) has refine the applicability of reverse charge

Introduction Goods and Services Tax, or GST, has brought about a revolution in the Indian economy. Previously, there were so many indirect taxes at the central and state levels, and GST combined them all and created a unified system. This…

Navigating the complexities of income tax can be daunting, especially with frequent updates and changes in tax laws. Whether you’re a salaried individual, a business owner, or a freelancer, understanding the basics of income tax, tax slabs, and new rules…

The Union Budget 2025 has introduced significant changes to the income tax structure, particularly under the new tax regime. One of the most notable updates is that individuals earning up to ₹12 lakhs annually will now have zero tax liability.…

The Goods and Services Tax (GST) regime in India has undergone several changes since its inception in 2017. One of the most significant areas of focus has been the Reverse Charge Mechanism (RCM), which shifts the responsibility of paying taxes…

The New Income Tax Bill 2025 introduces significant updates to the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) provisions, aiming to streamline tax compliance, reduce evasion, and simplify the process for taxpayers. Here’s a concise overview…

Starting a business is an exciting venture, but it requires careful planning and compliance with legal requirements. One of the most critical steps in this process is business registration. Proper registration not only legitimizes your business but also unlocks numerous…