Regulatory decoder
Key CBIC, CBDT, and MCA notifications explained in plain English — with the exact thresholds, effective dates, and what they mean for your business. Every page cites the official notification number and links to the primary source.
CBIC
Mandatory e-invoicing extended to taxpayers with Annual Aggregate Turnover (AATO) exceeding ₹5 crore, effective 1 August 2023. Reduces threshold from ₹10 Cr to ₹5 Cr.
Read full decoder →CBIC
Lists services on which GST is payable on Reverse Charge basis by the recipient (not supplier). Key services: legal (advocate), GTA, director sitting fees, insurance agent, government authority services.
Read full decoder →CBIC
Mandates HSN (Harmonised System of Nomenclature) code disclosure on GST tax invoices. Turnover-linked digit requirement: 4-digit HSN for AATO ≤ ₹5 Cr; 6-digit HSN for AATO > ₹5 Cr.
Read full decoder →Ministry of MSME
Replaced the 2006 MSME investment-only classification. New dual criteria (investment AND turnover). Micro: invest ≤ ₹1 Cr + turnover ≤ ₹5 Cr. Small: invest ≤ ₹10 Cr + turnover ≤ ₹50 Cr. Medium: invest ≤ ₹50 Cr + turnover ≤ ₹250 Cr.
Read full decoder →CBDT
Clarifies TDS obligations under s.194R: 10% TDS on benefits/perquisites exceeding ₹20,000 per recipient per year. Deductor must gross-up if benefit is non-monetary.
Read full decoder →Parliament of India
Finance Act 2024 inserted s.194T, requiring partnership firms to deduct TDS at 10% on remuneration, commission, bonus, interest on capital paid to partners exceeding ₹20,000 per FY.
Read full decoder →Parliament of India
Finance Act 2024 deleted s.56(2)(viib) entirely from AY 2025-26 onwards. Angel tax — which taxed share premium received at above Fair Market Value as 'income from other sources' — is abolished for both Indian and foreign investors.
Read full decoder →CBDT
Circular clarifies that an employer must ask each employee to declare their preferred tax regime (old or new under s.115BAC) before computing TDS on salary. Default: new regime if employee does not declare.
Read full decoder →Ministry of Corporate Affairs
Companies (Amendment) Act 2019 converted 16 compoundable offences (procedural defaults) from criminal prosecution to civil penalty. ROC can impose penalty directly; officer is not prosecuted for minor procedural lapses.
Read full decoder →CBIC
Quarterly Return Monthly Payment (QRMP) scheme allows taxpayers with AATO ≤ ₹5 Cr to file GSTR-1 and GSTR-3B quarterly, while paying monthly tax via a fixed-sum or self-assessment challan (PMT-06).
Read full decoder →Parliament of India / CBIC
Finance Act 2024 amended s.20 CGST to make ISD registration mandatory for distributing common service ITC across GSTINs. Businesses with multiple GSTINs using common services (corporate office rent, IT services) must distribute ITC through ISD from 01-Apr-2025.
Read full decoder →Parliament of India
Finance Act 2023 inserted clause (h) to s.43B: payment to a registered MICRO or SMALL enterprise supplier (MSMED s.2(h)/(m)) for goods/services is deductible only in the year of ACTUAL payment when it remains outstanding beyond the MSMED s.15(1) time limit — 15 days without a written agreement, up to 45 days with a written agreement. Medium enterprises are OUTSIDE the section.
Read full decoder →Ministry of Labour and Employment
The wage ceiling for mandatory EPF coverage is ₹15,000 per month (basic wages + dearness allowance). Employees earning above ₹15,000 can be excluded if not existing members. The ₹15,000 ceiling was set in 2014 and has not been revised as of Aug 2026.
Read full decoder →All notification decoders are reviewed against primary government sources. Statutory dates and thresholds are those in the official notifications. Where exact text is uncertain, a ⚠ VERIFY box is shown on the detail page.