FAQ | Advocate Debabrata

GST

Frequently Asked Question

This FAQ section provides clear, expert answers to your questions regarding GST compliance, taxation and professional legal representation.

What is “GST 2.0” and how does it affect my business in 2026?⌄

GST reforms may change rates, compliance requirements and filing processes. Businesses should verify the latest applicable notifications before filing.

Is there really 0% GST on life and health insurance now?⌄

The applicable GST treatment depends on the current law and notifications.

What happens if I miss the deadline for my GST Annual Return?⌄

Late filing may lead to fees, interest or other compliance consequences.

What is the “30-Day Rule” for bank account linking?⌄

The rule and its applicability should be confirmed from the latest official guidance.

What is the difference between a Composite Supply and a Mixed Supply?⌄

Composite supply follows the principal supply; mixed supply follows the applicable statutory rules.

Does receiving an advance payment for goods trigger GST liability in 2026?⌄

GST treatment depends on the nature of supply and applicable time-of-supply rules.

Which Constitutional Articles give the government the power to levy GST?⌄

Articles 246A, 269A and 279A provide the constitutional framework for GST.

Can a State government unilaterally change the GST rate for a specific product?⌄

GST rate changes follow the statutory and council process applicable to the product.

What happened to the 12% and 28% slabs in the 2026 framework?⌄

The applicable slabs should be checked against current official notifications.

Does the 5% rate still apply to essential items?⌄

The rate depends on the item and the current rate schedule.

When does the Reverse Charge Mechanism (RCM) apply?⌄

RCM applies to specified supplies under the applicable GST provisions.

Can I claim Input Tax Credit (ITC) on taxes paid under RCM?⌄

ITC may be available subject to eligibility and documentation conditions.

INCOME TAX

Frequently Asked Question

This FAQ section provides clear, expert answers to your questions regarding income tax regulations and professional legal representation.

What exactly is income tax in the Indian context?⌄

Income tax is a direct tax on taxable income under the applicable law.

Why does the government collect this tax?⌄

Tax revenue supports public services and government programmes.

What is the current law governing taxes in India?⌄

The applicable legislation, rules and amendments for the relevant year govern income tax.

If I have income from multiple sources, do I pay tax five times?⌄

Income from different heads is generally considered together under the applicable tax computation rules.

I live in my own house; do I still fall under “House Property”?⌄

Tax treatment depends on ownership, use and the applicable assessment-year rules.

What is the difference between Business Income (PGBP) and Capital Gains?⌄

They are separate heads of income with different computation rules.

Why is “Other Sources” called a catch-all category?⌄

It covers specified income that does not fall under another applicable head.