Latest Updates on Income Tax, GST, Customs, Corporate Laws & more
Highlights 
June 3, 2024 Notifications DGFT
June 3, 2024 Circulars DGFT
June 3, 2024 Case Laws GST
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Income Tax
June 3, 2024 Case Laws Customs
June 3, 2024 Case Laws Customs
June 3, 2024 Case Laws Customs
June 3, 2024 Case Laws Customs
June 3, 2024 Case Laws Customs
Articles
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No Service Tax payable on freight margin recovered from the customer in case of outbound shipments
June 3, 2024
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EVERY ERRONEOUS DECISION BY LOWER COURT NOT AMENABLE TO WRIT OF CERTIORARI, ONLY PATENT ERRORS CAN BE CORRECTED
June 3, 2024
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A NEW HORIZON FOR AI REGULATIONS
June 3, 2024
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Remedy cannot be availed under writ jurisdiction when alternate remedies not availed efficaciously
June 3, 2024
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Share Transfer Vs Share TransmissionShare Transfer Vs Share TransmissionShare Transfer Vs Share Transmission
June 1, 2024
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Department should seek document/clarification if required from assessee before passing order
June 1, 2024
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Does MRA answer the BIS Conundrum for Foreign Manufacturers
June 1, 2024
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HOW WILL GST APPELLATE TRIBUNALS FUNCTION
June 1, 2024
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Acknowledging the order-in-original issued by non-competent authority does not make it good in law
June 1, 2024
Short Notes
Principal-Agent Relationship in Telecom Sector and TDS u/s 194H: A Supreme Court Verdict
Procedural Compliance vs. Substantive Justice: Balancing Procedural Rigidity and Transitional Hardships in Section 80G Approvals
Maximizing Value in Insolvency: NCLAT Upholds CoC's Right to Negotiate Post-Challenge Mechanism
Supreme Court Clarifies Limitation Period for Appeals before NCLAT under IBC in the Digital Age: E-filing and Limitation Periods
Navigating the Bounds of Tax Law: Supreme Court's Verdict on Section 153-C Assessments
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.
Navigating Legal and Procedural Hurdles: A Charitable Institution's Quest for Tax Exemption and Registration u/s 12A and 80G
Supreme Court Clarifies Jurisdictional Objections in Tax Assessments: A Landmark Order
Invalid Notices and the Importance of Proper Jurisdiction: Lessons from a High-Profile Tax Case
Upholding Precedent: Supreme Court's Stance on Taxation of Cross-Border Software Payments (Royalty)
The Cross-Border Software Purchase Conundrum: Supreme Court's Clarification on TDS for Non-Resident Software Transactions as Royalty
Ensuring Justice in GST Registration Cancellations: A Landmark High Court Ruling
Limitation Period in Insolvency Appeals: A Step Towards Legal Clarity for determination of relevant date and Condonation of delay in filing an appeal.
Navigating Trade Restrictions: India's Stance on North Korea Exports and Imports
Deadline Adherence in Insolvency Claims: The Supreme Court on Enforcing Arbitration Awards Amidst Insolvency
Resolution Plan Approvals: The Supreme Court's Clarification on NCLT and NCLAT's Jurisdiction in Insolvency Resolution.
Navigating Tax Exemptions u/s 80P: The Supreme Court's Verdict on Cooperative Societies vs. Banks
Supreme Court Verdict on Pre-Import Condition and IGST Exemptions: A Legal Analysis
Understanding Beneficial Ownership: A Landmark Admiralty Case in India
Beneficial Ownership, Beyond Baggage in Customs Law: Seizure of foreign currency
Expanding Trade Horizons: The 2023 Amendment to SEZ Rules for Gem and Jewellery Units
The Significance of Signature: A Landmark Decision on GST Assessment Orders
Principles of Natural Justice in Tax Litigation: Unraveling the Significance of Cross-Examination Rights in Tax Cases
Deadline Extension for Processing E-Filed Tax Returns: Refund Claims on Income Tax Returns
Notifications
FTP
- Amendment in item description of 'Glufosinate Technical' covered under HS Code 38089390 of Chapter 38 of Schedule —l (Import Policy) of ITC (HS) 2022.June 3, 2024
IT
- Income-tax (Sixth Amendment) Rules, 2024 - Form No. 27Q amended. New item 7A inserted for reporting the lower deduction or no deduction in view of notification u/s 197A(1F)May 31, 2024
Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverMay 31, 2024
CE
- Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude.May 31, 2024
CGST
- Jurisdiction of Central Tax Officers - CGST officers - Seeks to amend Notification No. 02/2017-Central Tax, dated the 19th June, 2017 - Territorial jurisdiction of Principal Commissioners of Central Tax or the Commissioners of Central Tax and the central tax officers sub-ordinate to them.May 30, 2024
IT
- U/s 10(46) of IT Act 1961 – Central Government notifies 'Mathura Vrindavan Development Authority'May 29, 2024
CGST
- Seeks to Amend in the Notification No. 02/2017-Central Tax, dated the 19th June, 2017 - Jurisdiction of Central Tax Officers.May 29, 2024
CVD
- Seeks to amend Notification No. 2/2019-Customs (CVD) dated 30th August, 2019 in order to extend the levy of Countervailing Duty on 'Saccharin in all its forms' imported from China PR upto and inclusive of the 28th February, 2025.May 28, 2024
SEBI
- Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2024May 27, 2024
IT
- Higher Rate of Tax Collection at Source (TCS) for non-furnishing of ITR: Central Government notifies the Reserve Bank of India u/s 206CCA(3)(ii) - RBI excluded from scope of "Specified person"May 27, 2024
IT
- Higher Rate of TDS for non-furnishing of ITR - Central Government notifies the Reserve Bank of India u/s 206AB(3)(ii) - RBI excluded from scope of "Specified person"May 27, 2024
IT
- Cost Inflation Index (CII) for the Financial Year 2024-25 notified as 363 - Amends the Notification No. 44/2017May 24, 2024
IT
- Exemption from specified income U/s 10(46) – ‘Tamil Nadu Water Supply and Drainage Board, Chennai, notifiedMay 22, 2024
Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverMay 21, 2024
FTP
- Amendment in Para 2.31 of the Foreign Trade Policy, 2023 and ITC HS 2022 Schedule 1 Import PolicyMay 20, 2024
Circulars/ Public Notices
DGFT
- Amendment in Appendix - 6B of FTP/ HBP, 2023.June 3, 2024
DGFT
- Clarification of Para 4.17 of Hand Book of Procedures-2023 - In the circular it was clarified that, in the interest of export promotion and to promote ease of doing business, in all cases where Norm's Committee decision were taken before 01.04.2023, the AA holder, who wishes for a review, may file their review application till 31.12.2024.May 31, 2024
SEBI
- Ease of Doing Business – Internet Based Trading for Stock BrokersMay 30, 2024
SEBI
- Comprehensive guidelines for Investor Protection Fund (IPF) and Investor Services Fund (ISF) for Stock Exchanges having commodity derivatives segmentMay 30, 2024
SEBI
- Revision of eligibility criteria for launching commodity futures contracts.May 30, 2024
DGFT
- Clarification of Para 4.17 of Hand Book of Procedures-2023May 30, 2024
GST
- Guidelines for initiation of recovery proceedings before three months from the date of service of demand orderMay 30, 2024
Customs
- Disbursal of Drawback amounts into the exporters accounts through PFMSMay 29, 2024
DGFT
- Modification of SION E-125 for export of Shea StearineMay 29, 2024
DGFT
- Abeyance of Public Notice No. 05/2024 dated 27.05.2024May 28, 2024
DGFT
- Abeyance of Public Notice No. 05/2024 dated 27.05.2024May 28, 2024
SEBI
- Standard Operating Procedure for handling of Stock Exchange outage and extension of trading hours thereof in Commodity Derivatives segmentMay 27, 2024
SEBI
- Eligibility criteria for launching Options with Commodity Futures as underlying by Stock Exchanges having commodity derivative segments.May 27, 2024
SEBI
- Self Regulatory Organizations for Social Impact Assessors in the context of Social Stock Exchange (“SSE”)May 27, 2024
SEBI
- Timelines for disclosures by Social Enterprises on Social Stock Exchange (“SSE”) for FY 2023-24.May 27, 2024
News
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Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore; Records 10% y-o-y growth
June 3, 2024
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DPIIT promoting Manufacturing Incubators for Startups
June 1, 2024
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Accounts of the Government of India (Provisional/Unaudited) for the Financial Year 2023-2024
May 31, 2024
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Monthly Review of Accounts of the Government of India for April 2024 (FY2024-25)
May 31, 2024
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Combined Index of Eight Core Industries increases by 6.2% (provisional) in April, 2024 as compared to April, 2023
May 31, 2024
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Advisory on launch of E-Way Bill 2 Portal
May 28, 2024
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Department of Commerce holds Chintan Shivir on FTA Strategy and SOP for Trade Negotiations
May 28, 2024
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Auction for Sale (issue/re-issue) of (i) ‘New GS 2029’, (ii) ‘New GOI SGrB 2034’ and (iii) ‘7.34% GS 2064’
May 28, 2024
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WIPO Treaty, a big win for India and Global South
May 27, 2024
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Incubation Centre inaugurated at DPIIT’s National Council for Cement and Building Materials
May 21, 2024
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ULIP Workshop Brings States Together to Enhance India’s Logistics
May 20, 2024
Forum - Popular issues
Payment to cine or tv artists. liability under rcm (32)
Adjudication process (27)
Sec 16(4) reversal of itc when 3b is filed belatedly (22)
Registration-another state (19)
Penalty under section 73(1) of cgst act, 2017 (16)
Gst on post supply discount (15)
Issue regarding discharge of gross tax liability while filing gst returns (15)
Itc of fy 2017-18 blocked (14)
Penalty under section 122(1)(ii) of the gst act (14)
Addition of unaccounted supplies in the returns (13)
Inquiry by the appellate authority (13)
Gst on hostel / pg (13)
Section 16 (2) (c) (13)
Goods sent for exhibition and get consumed during display (13)
Forum - Recent Replied Issues
Notice received service tax on labour supply ... (1)
Customer free of charge supply - scheme to be mentioned in shipping bill - reg ... (4)
Treatment of liability in case of transfer of business ... (8)
Itc disalowed us/ 16(4) due filled return after cutoff date. ... (6)
Credit note (12)
Import of cpu (2)
Whether gst is payable on resale of flat by a buyer before its completion? ... (4)
Gst liability on loyalty earned against purchase of fuel ... (6)
Gst on rent received from building which is constructed from loan advanced ... ... (3)
Quantum of penalty under the igst act (10)
Delivery of assessment order (5)
Typo error in 3b year 18-19 (6)
Time barred order (10)
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
