Latest Updates on Income Tax, GST, Customs, Corporate Laws & more
⇒ The onus is entirely on the Revenue to establish existence of PE every year
⇒ Know the Contrasts between PF and ESIC
⇒ RECENT SUPREME COURT JUDGMENTS ON ARBITRATION
⇒ If tax liability including interest has been paid subsequently SCN cannot be issued
⇒ REJECTION OF APPLICATION FOR INSOLVENCY RESOLUTION PROCESS OF PERSONAL GUARANTOR TO CORPORATE DEBTOR
⇒ REPAYMENT PLAN IN INSOLVENCY RESOLUTION PROCESS OF PERSONAL GUARANTORS TO CORPORATE DEBTOR
⇒ Period for filing an appeal can be extended by the Appellate Authority
IBC:
Maximizing Value in Insolvency: NCLAT Upholds CoC's Right to Negotiate Post-Challenge MechanismIBC:
Supreme Court Clarifies Limitation Period for Appeals before NCLAT under IBC in the Digital Age: E-filing and Limitation PeriodsIncome Tax:
Navigating the Bounds of Tax Law: Supreme Court's Verdict on Section 153-C AssessmentsIncome Tax:
The Delhi High Court's Guiding Light on Post-Search Tax Assessments: Application of Section 153C, powers of tax authorities and the rights of assessees.Income Tax:
Navigating Legal and Procedural Hurdles: A Charitable Institution's Quest for Tax Exemption and Registration u/s 12A and 80GIncome Tax:
Supreme Court Clarifies Jurisdictional Objections in Tax Assessments: A Landmark OrderIncome Tax:
Invalid Notices and the Importance of Proper Jurisdiction: Lessons from a High-Profile Tax CaseIncome Tax:
Upholding Precedent: Supreme Court's Stance on Taxation of Cross-Border Software Payments (Royalty)Income Tax:
The Cross-Border Software Purchase Conundrum: Supreme Court's Clarification on TDS for Non-Resident Software Transactions as RoyaltyGST:
Ensuring Justice in GST Registration Cancellations: A Landmark High Court RulingIBC:
Limitation Period in Insolvency Appeals: A Step Towards Legal Clarity for determination of relevant date and Condonation of delay in filing an appeal.Customs:
Navigating Trade Restrictions: India's Stance on North Korea Exports and ImportsIBC:
Deadline Adherence in Insolvency Claims: The Supreme Court on Enforcing Arbitration Awards Amidst InsolvencyIBC:
Resolution Plan Approvals: The Supreme Court's Clarification on NCLT and NCLAT's Jurisdiction in Insolvency Resolution.Income Tax:
Navigating Tax Exemptions u/s 80P: The Supreme Court's Verdict on Cooperative Societies vs. BanksCustoms:
Supreme Court Verdict on Pre-Import Condition and IGST Exemptions: A Legal AnalysisIndian Laws:
Understanding Beneficial Ownership: A Landmark Admiralty Case in IndiaCustoms:
Beneficial Ownership, Beyond Baggage in Customs Law: Seizure of foreign currencySEZ:
Expanding Trade Horizons: The 2023 Amendment to SEZ Rules for Gem and Jewellery UnitsGST:
The Significance of Signature: A Landmark Decision on GST Assessment OrdersIncome Tax:
Principles of Natural Justice in Tax Litigation: Unraveling the Significance of Cross-Examination Rights in Tax CasesIncome Tax:
Deadline Extension for Processing E-Filed Tax Returns: Refund Claims on Income Tax ReturnsDGFT:
Deadline Extended for Pharmaceutical Track and Trace System ImplementationCorporate Law:
MCA Announces Establishment of Central Processing Centre at IMT ManesarCustoms:
Export Obligation Compliance: Detailed SOPs for EPCG and Advance Authorization HoldersCus (NT)
- Rate of exchange of one unit of foreign currency equivalent to Indian rupees–Supersession Notification No.27/2024-Customs(N.T.), dated 4th April, 2024FEMA
- Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2024.Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverCE
- Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude.FTP
- Export of Onions (under HS Code 07031019) to Sri Lanka and UAE.FTP
- Imposition of Port restrictions on supply of Prohibited/Restricted essential commodities to the Republic of Maldives during 2024-25.CGST
- Seeks to amend Notification No. 83/2020 – Central Tax, dated the 10th November, 2020 - Extension of time limit for furnishing the details of outward supplies in FORM GSTR-1 for specified personsCGST
- Seeks to extend the timeline for implementation of Notification No. 04/2024-CT dated 05.01.2024 from 1st April, 2024 to 15th May, 2024 - Special procedure by a registered person engaged in manufacturing of the certain goodsIT
- Central Government approves ‘Amul Research and Development Association, Anand, Gujarat' under the category of ‘Research Association’ for research in ‘Scientific Research’ for the purposes of clause (ii) of sub-section (1) of section 35Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverCGST
- Waiver of the interest levied on late filling of GST return for the specified (four) registered person.Cus
- Seeks to amend Notification No. 64/2023-Customs, dated the 7th December, 2023 in order to allow duty free imports of yellow peas with bill of lading issued on or before 30.06.2024FTP
- Amendment in Import Policy Condition for Melon Seeds under ITC (HS) Code 1207 70 90 of Chapter-12 of ITC (HS), 2022, Schedule-I (Import Policy)FTP
- Extension in import period for Yellow Peas under ITC (HS) Code 07131010 of Chapter 07 of ITC (HS), 2022, Schedule-I (Import Policy)FTP
- Supply of essential commodities to the Republic of Maldives during 2024-25DGFT
- Discontinuation of Safeguard measures on import of Isopropyl alcohol (IPA), under Chapter 29 of ITC (HS) 2022, Schedule-I (Import Policy).SEBI
- Circular on Standardization of the Private Placement Memorandum (PPM) Audit ReportInsolvency and Bankruptcy
- Partial modification to the circular no. IBBI/LIQ/61/2023 dated 28th September 2023 titled ‘Clarification w.r.t. Liquidators’ fee under clause (b) of sub-regulation (2) of Regulation 4 of IBBI (Liquidation Process) Regulations, 2016’.FEMA
- Hedging of Gold Price Risk in Overseas MarketsDGFT
- Clarification on discharge of export obligation of Advance Authorisation (AA) bearing Customs Notification No. 18/2015-Customs as amended and Customs Notification No. 21/2015-Customs as amended both dated 01.04.2015 by making physical exports or by making domestic suppliesCustoms
- Inclusion of gender specific infrastructure facilities to be provided by the Custodian CCSP-CFS/AFS/ICD under the HCCAR, 2009-regDGFT
- Implementation of Melon Seeds Import Monitoring System (MS-IMS)DGFT
- Modification of SION E-124 for export of refined Sunflower Oil (Edible Grade)SEBI
- Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUACustoms
- Exemption for import of High End and High Value used Medical Equipment other than critical care medical equipment Hazardous and Other under Wastes (Management and Transboundary Movement) Second Amendment Rules, 2022 dated 23rd December, 2022.DGFT
- Directives regarding submission of digitized ANFs, Appendices etc.Customs
- Invitation of applications for empanelment of Chartered Engineers for examination / valuation of Second / Old & Used machinery / goods etc. in the jurisdiction of Kandla Customs Regarding.Customs
- Authorised Officers under Section 25 read with Section 47 (5) of Food Safety Standards (FSS) Act, 2006 and Regulation 13 (1) of FSS (Import) Regulation, 2017GST
- Guidelines for CGST field formations in maintaining ease of doing business while engaging in investigation with regular taxpayersDGFT
- Amendment in Appendix 4B of Handbook of Procedures, 2023 - List of banks authorized to import gold/silver under Appendix 4B of Handbook of Procedures, 2023 has been updated.⇒ Regulation of Payment Aggregators (PAs) – Draft Directions
⇒ CBDT signs record number of 125 Advance Pricing Agreements (APAs) in FY 2023-24
⇒ Auction for Sale (issue/ re-issue) of (i) ‘7.37% GS 2028’ and (ii) ‘New GS 2064’
⇒ Index Numbers of Wholesale Price in India for the Month of March, 2024 (Base Year: 2011-12)
⇒ Extension of Due date of GSTR-1 for the period March 24
⇒ Extension of GSTR-1 due date to 12th April 2024
⇒ 7th round of the India-Peru Trade Agreement Negotiations concludes in New Delhi
⇒ Advisory: Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1
⇒ Advisory on Reset and Re-filing of GSTR-3B of some taxpayers
Registration-another state (19)
Issue regarding discharge of gross tax liability while filing gst returns (15)
Gst on hostel / pg (13)
Goods sent for exhibition and get consumed during display (13)
Section 16 (2) (c) (13)
Gst on drc (13)
Reversal of igst itc and payment through drc 03 (13)
Penalty under section 122(1)(ii) of the gst act (12)
Query regarding section 16(4) of cgst act (11)
Section 73(11) (10)
Notification no. 3/2023 - compensation cess (rate) dt. 26.07.2023-is it retrospective? (9)
Rcm liability on royalty charged / paid to mines owner (9)
Adhoc demand of gst on indirect expenses in gst scrutiny (9)
Claim of input tax credit- gst returns filed belatedly by supplier (8)
Forum - Recent Replied Issues
Man power supply to poultry farm - taxable or exempt ... (5)
Credit note (2)
Gst rule 96(10) (5)
Input tax credit (4)
Section 16(4) (2)
Transport of goods by road (1)
Gst liability on loyalty earned against purchase of fuel ... (5)
Transfer or proprietary business (2)
Gst on free supply to employees (7)
Igst demand by state tax officers (3)
Eligibility of input tax credit (2)
E-way bill applicability in case of waste and scrap of furniture and comput ... ... (4)
Jiva Seva is Shiva Seva:
Service to humanity is Service to God
May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.
- Swami Vivekananda, CW, 5:137