Latest Updates on Income Tax, GST, Customs, Corporate Laws & more
Highlights 
Articles
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DISTINCTION BETWEEN ‘DOCTRINE OF CONSTRUCTIVE NOTICE’ AND ‘DOCTRINE OF INDOOR MANAGEMENT’
May 9, 2024
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The Benefits of Cloud Accounting for SMEs
May 9, 2024
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TIMELINE FOR REFUND UNDER SECTION 38(3) OF THE DELHI VALUE ADDED TAX, 2004
May 8, 2024
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PRE-DEPOSIT & STAY OF DEMAND
May 8, 2024
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GST APPEALS: WHAT ONE SHOULD KNOW
May 7, 2024
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Who is The Regulatory Body of GIFT City in India?
May 7, 2024
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Proper officer shall pass an order within seven days of service of notice of such detention or seizure of goods or conveyance
May 6, 2024
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Collection of Entry Fee from visitors for Temple Hall Exempt under GST
May 4, 2024
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State-wise Professional Tax Payment Deadlines in India: A Comprehensive Guide
May 4, 2024
Short Notes
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 HoldersNotifications
IT
- Exemption from specified income U/s 10(46) – ‘Tamil Nadu Electricity Regulatory Commission, notifiedMay 8, 2024
FTP
- Extension in Import Period for Yellow Peas under ITC (HS) Code 07131010 of Chapter 07 of ITC (HS) 2022, Schedule -I (Import Policy)May 8, 2024
SEBI
- Securities and Exchange Board of India (Employees' Service) (Second Amendment) Regulations, 2024.May 6, 2024
FEMA
- Foreign Exchange Management (Deposit) (Fourth Amendment) Regulations, 2024.May 6, 2024
Cus
- Import of Gold or Silver by Banks - Exemption from IGST on import - Seeks to further amend List 34A and List 34B in the Appendix to the Table of Notification No. 50/2017-Customs dated 30.06.2017May 6, 2024
FTP
- Export of food commodities through National Cooperative Exports Limited (NCEL).May 6, 2024
FTP
- Amendment in the Export policy of OnionsMay 4, 2024
Cus
- Seeks to amend specified customs tariff notifications to exempt applicable import duty on imports of desi chana (HS 0713 20 20) up to 31.03.2025; to impose export duty of 40% on exports of Onions (HS 0703 10); to extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.10.2024.May 3, 2024
Cus (NT)
- Rate of exchange of one unit of foreign currency equivalent to Indian rupees–Supersession Notification No. 30/2024-Customs(N.T.), dated 18th April, 2024May 2, 2024
PMLA
- Reporting Entities notified for Aadhaar authentication service of the Unique Identification Authority of India u/s 11A of the Prevention of Money-laundering Act, 2002April 30, 2024
FEMA
- Foreign Exchange Management (Margin for Derivatives Contracts) (First Amendment) Regulations, 2024.April 30, 2024
Cus (NT)
- Regarding amendment in Notification No. 77/2023 -Cus. (N.T.) dated 20.10.2023 relating to AIRs of Duty Drawback.April 30, 2024
Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverApril 30, 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.April 30, 2024
SEBI
- Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2024April 26, 2024
Circulars/ Public Notices
Insolvency and Bankruptcy
- Uploading of judicial orders related to insolvency proceedings by Insolvency ProfessionalsMay 9, 2024
FEMA
- Margin for Derivative ContractsMay 8, 2024
SEBI
- Periodic reporting format for Investment AdvisersMay 7, 2024
Customs
- Amendments to the All Industry Rates of Duty Drawback effective from 03.05.2024May 7, 2024
Companies Law
- Relaxation of additional fees and extension of last date of filing of Form No. LLP BEN-2 and LLP Form No. 4D under the Limited Liability Partnership Act, 2008May 7, 2024
SEBI
- Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUAMay 6, 2024
DGFT
- Clarification on the applicability of 3% amount on account of non-achievement of minimum Value Addition as mentioned in para 4.49 (b) and amount equivalent to 10% of the CIF value in Para 4.49 (a) (ii) of HBP 2023May 3, 2024
Income Tax
- Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2024-25 — procedure for compulsory selection in such casesMay 3, 2024
FEMA
- Master Direction – Risk Management and Inter-Bank Dealings: AmendmentsMay 3, 2024
DGFT
- Suspension of inoperative SIONsMay 3, 2024
SEBI
- Framework for administration and supervision of Research Analysts and Investment AdvisersMay 2, 2024
SEBI
- Portfolio Managers - Facilitating ease in digital on-boarding process for clients and enhancing transparency through disclosuresMay 2, 2024
SEBI
- Facilitating collective oversight of distributors for Portfolio Management Services (PMS) through APMIMay 2, 2024
Customs
- Export of Silk Waste (including cocoons unsuitable for reeling, yarn waste and garnetted stock) falling under ITC (HS) code 5003 -— Export Clearance on the basis of Inspection Report from the Authorized Officers from CSB/Test Report from the Textile Testing Labs from CSB - Reg.May 2, 2024
Customs
- Instruction on review of requirement of G-Card holders at a Customs Station and conduct of G-Card examination in terms of Regulation 13 of CBLR, 2018May 1, 2024
News
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5th Joint Group of Customs (JGC) meeting between India and Bhutan was held on 6th-7th May, 2024 in Leh, Ladakh
May 8, 2024
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Auction for Sale (re-issue) of (i) ‘7.32% GS 2030’ and (ii) ‘7.30% GS 2053’
May 7, 2024
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4th Session of India-Ghana Joint Trade Committee held in Accra
May 6, 2024
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2nd Session of India-Nigeria Joint Trade Committee held in Abuja
May 3, 2024
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India and New Zealand to have deeper collaboration in Pharma, Agriculture and Food Processing Industries, among others
May 2, 2024
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GST revenue collection for April 2024 highest ever at Rs 2.10 lakh crore
May 1, 2024
Forum - Popular issues
Payment to cine or tv artists. liability under rcm (32)
Registration-another state (19)
Sec 16(4) reversal of itc when 3b is filed belatedly (19)
Penalty under section 73(1) of cgst act, 2017 (16)
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)
Gst on hostel / pg (13)
Inquiry by the appellate authority (13)
Gst on drc (13)
Goods sent for exhibition and get consumed during display (13)
Reversal of igst itc and payment through drc 03 (13)
Section 16 (2) (c) (13)
Forum - Recent Replied Issues
Refund of igst charged and collected from foreign customer on export of ser ... ... (5)
Itc claimed after due date (6)
Reconciliation of eway bills (3)
E-way bill generation-transporter does not have gstin ... (3)
Non-issuance of 'c' form by the registered dealer ... (9)
Waiver of delay in export of goods beyond 90 days under gst ... (6)
Sales against 0.1% gst- if export not done within 90 days ... (7)
Quantum of penalty under the igst act (9)
Online software import duty calculation reg ... (6)
Input tax credit (6)
Gst rule 96(10) (6)
Bill to a overseas company supply of goods locally ... (5)
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
