Practical guides, expert insights and timely updates on Income Tax, GST, Company Law & business compliance — written to help you make better decisions.
The GST rate on cement is 18% following the GST 2.0 rate revision effective 22 September 2025, down from 28% plus compensation cess. This guide covers what changed, the effect on construction contracts and transitional stock, and how input tax credit works.
Complete GST rate chart for FY 2025-26. GST rates on goods (0%, 5%, 12%, 18%, 28%) and services including latest changes. Covers food, pharma, electronics, construction, healthcare, education and more.
Read Guide → ✓ Reviewed by a Tax & Compliance ProfessionalFresh explainers, practical guides and important regulatory updates.
The GST rate on air conditioners is 18% after the GST 2.0 revision effective 22 September 2025, down from 28% plus compensation cess. This guide covers the change, installation as a composite supply, and when an AC carries input tax credit.
The GST rate on laptops and computers is 18%, the standard rate under the GST 2.0 two-rate structure. This guide covers accessories, bundled software, input tax credit for businesses and freelancers, and the rules on buying a laptop in another state.
The GST rate on bikes is 18% for motorcycles up to 350cc and 40% above 350cc, following GST 2.0 effective 22 September 2025. Engine capacity is the dividing line, and this guide explains how it works, what happened to compensation cess, and the credit position.
The GST rate on televisions is 18% after the GST 2.0 revision effective 22 September 2025, down from 28% plus compensation cess. Screen size no longer splits the rate, and this guide covers bundled installation, wall mounts and the credit position.
The GST rate on a Royal Enfield Classic 350 turns on one test: motorcycles up to 350cc are at 18% under GST 2.0, and those above 350cc are on the 40% demerit list. This guide explains the boundary, why variant names mislead, and how to check.
The ITR filing last date in 2026 depends on the class of assessee: 31 July 2026 for ITR-1 and ITR-2 filers not subject to audit, 31 August 2026 for non-audit ITR-3 and ITR-4 filers, 31 October 2026 for audited assessees, 30 November 2026 for transfer pricing cases, and 31 December 2026 for a belated or revised return.
Forgot your Udyam Registration Number? It can be recovered on the Udyam portal using the mobile number or email given at registration, verified by OTP. This guide covers the retrieval route, what to do when the registered mobile is no longer in use, and how to avoid losing it again.
The advance tax due dates for FY 2026-27 are 15 June, 15 September, 15 December and 15 March, at cumulative 15%, 45%, 75% and 100%. This is the first full cycle under section 408 of the Income-tax Act, 2025 — the successor to section 211.
To calculate advance tax, estimate total income for the year, compute tax at the applicable rates, add surcharge and cess, subtract TDS and TCS, and pay the balance in cumulative instalments of 15%, 45%, 75% and 100%. This guide works a full example.
Advance tax interest comes from two separate provisions: deferment of an instalment, and shortfall against 90% of assessed tax at year end. Under the Income-tax Act, 2025 these are sections 425 and 424, the successors to sections 234C and 234B.
Advance tax for senior citizens is not payable where a resident individual aged 60 or above has no income chargeable under the head profits and gains of business or profession. Business or professional income removes the exemption entirely, whatever the age.
The tax audit due date for AY 2026-27 is 30 September 2026 for the audit report and 31 October 2026 for the return, with both dates moving a month later where a section 92E report is also required. This is the last cycle under section 44AB of the Income-tax Act, 1961.
A tax audit due date extension comes only from a CBDT order under section 119 of the Income-tax Act, 1961. This guide explains who has the power, what an extension does and does not move, how to verify a claimed extension, and why interest under section 234A can still run.
The income tax audit report due date for AY 2026-27 is 30 September 2026 — Form 3CA or 3CB with Form 3CD. From tax year 2026-27 the report becomes Form No. 26 under rule 47 of the Income-tax Rules, 2026, and the date is set by section 63(5)(a).
The tax audit limit is Rs 1 crore of business turnover, raised to Rs 10 crore where cash receipts and cash payments are each within 5%, and Rs 50 lakh of gross receipts for a profession. The same three figures carry into section 63 of the Income-tax Act, 2025.
The penalty for not filing a tax audit report is 0.5% of turnover or gross receipts, or Rs 1,50,000, whichever is less — section 271B for AY 2026-27 and section 446 from tax year 2026-27. Section 273B removes it where reasonable cause is proved, and the onus is on the assessee.
The ICAI Guidance Note on Tax Audit (Revised 2026) is, by ICAI's own Preface, the eleventh and concluding edition under the Income-tax Act, 1961. This guide covers what it settles on the specified date, the upload workflow, EVC verification and reasonable cause — and what it deliberately does not cover.
The tax audit ITR filing due date for AY 2026-27 is 31 October 2026 — one month after the audit report. Section 92E cases file by 30 November 2026. This guide separates the two dates, explains who counts as an audited assessee, and covers section 234A interest on a late return.
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