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Latest Updates on Income Tax, GST, Customs, Corporate Laws & more

Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws


























More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Income Tax:

Navigating the Bounds of Tax Law: Supreme Court's Verdict on Section 153-C Assessments

Income 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 80G

Income Tax:

Supreme Court Clarifies Jurisdictional Objections in Tax Assessments: A Landmark Order

Income Tax:

Invalid Notices and the Importance of Proper Jurisdiction: Lessons from a High-Profile Tax Case

Income 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 Royalty

GST:

Ensuring Justice in GST Registration Cancellations: A Landmark High Court Ruling

IBC:

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 Imports

IBC:

Deadline Adherence in Insolvency Claims: The Supreme Court on Enforcing Arbitration Awards Amidst Insolvency

IBC:

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. Banks

Customs:

Supreme Court Verdict on Pre-Import Condition and IGST Exemptions: A Legal Analysis

Indian Laws:

Understanding Beneficial Ownership: A Landmark Admiralty Case in India

Customs:

Beneficial Ownership, Beyond Baggage in Customs Law: Seizure of foreign currency

SEZ:

Expanding Trade Horizons: The 2023 Amendment to SEZ Rules for Gem and Jewellery Units

GST:

The Significance of Signature: A Landmark Decision on GST Assessment Orders

Income Tax:

Principles of Natural Justice in Tax Litigation: Unraveling the Significance of Cross-Examination Rights in Tax Cases

Income Tax:

Deadline Extension for Processing E-Filed Tax Returns: Refund Claims on Income Tax Returns

DGFT:

Deadline Extended for Pharmaceutical Track and Trace System Implementation

Corporate Law:

MCA Announces Establishment of Central Processing Centre at IMT Manesar

Customs:

Export Obligation Compliance: Detailed SOPs for EPCG and Advance Authorization Holders

IBC:

IBBI Circular Update: Key Takeaways for Insolvency Professionals and Stakeholders

Income Tax:

Modes of filing of ITR: Amendments to Rule 12 of the Income Tax Rules 1962

More Notes

Notifications Notifications

FTP

- General Authorisation for export of Telecommunication-related items and Information Security items covered under category 8A5 of SCOMET

IT

- Income-tax (Fifth Amendment) Rules, 2024

ADD

- Corrigendum - Notification No. 01/2024-Customs(ADD), Dated 15.01.2024

IT

- Exemption from specified income U/s 10(46) – ‘National Mission for Clean Ganga’, New Delhi, notified

Cus (NT)

- Rate of exchange of one unit of foreign currency equivalent to Indian rupees–Supersession Notification No. 18/2024-Customs(N.T.), dated 7th March, 2024

FTP

- Amendment in export policy of Onions

FTP

- Amendment of policy condition of Crude Oil under HS Code 2709 00 10

IT

- Disclosure of information respecting assessees U/s 138(1) of IT Act 1961 - Central Government specifies Principal Secretary, Planning Department, Government of Uttar Pradesh

SEZ

- Central Government de-notifies an area of 45.797 hectares, thereby making resultant area of the Special Economic Zone as 73.991 hectares at State Industries Promotion Corporation of Tamil Nadu Industrial Growth Centre, Sriperumbudur Taluk, Kancheepuram District, in the State of Tamil Nadu

SEZ

- Central Government notifies an additional area of 3.9035 hectares, thereby making total area of the Special Economic Zone as 26.3261 hectares at Village Manjari Budruk, Taluka Haveli, District Pune, in the State of Maharashtra

IT

- Corrigendum - Notification No. 27/2024 dated 5th March, 2024

IT

- Agreement between the Government of the Republic of India and the Kingdom of Spain for the exchange of Information with respect to taxes - Amendment in the existing convention between India and Spain regarding the taxation of royalties and fees for technical services.

FTP

- Amendment in import policy condition of Urea [Exim Code 310210101 in the ITC (IIS) 2022, Schedule - I (Import Policy)

FTP

- Amendment in Import Policy Condition for Duck Meat under Chapter 2 of ITC (HS) 2022, Schedule–I(Import Policy)

FTP

- Imposition of Minimum Import Price on Synthetic Knitted Fabrics up to 15th September 2024

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

DGFT

- Notification of the procedure for General Authorisation for Export of Information Security items(GAElS) under Category 8A5 Part 2 of SCOMET

DGFT

- Notification of procedure for General Authorisation for Export of Telecommunication items (GAET) under Category 8A5 Part I of SCOMET

Customs

- Standard Operating Procedure for stepping up of Preventive Vigilance Mechanism by the jurisdictional CBIC field formations and to prevent flow of suspicious cash, illicit liquor, drugs/narcotics, freebies and smuggled goods during elections.

SEBI

- Introduction of Beta version of T+0 rolling settlement cycle on optional basis in addition to the existing T+1 settlement cycle in Equity Cash Markets

DGFT

- Amendments under Interest Equalization Scheme

SEBI

- Safeguards to address the concerns of the investors on transfer of securities in dematerialized mode

SEBI

- Amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria

Customs

- Certain FTA certificate verification in TSK under CAROTAR Rules-2020-reg.

SEBI

- Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUA

DGFT

- Changes in origin declaration for Self-Certification under UK Developing Countries Trading Scheme (DCTS)

Income Tax

- Circular u/s 268A of the Income-tax Act, 1961 for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court - measures for reducing litigation

Customs

- Prohibition for import of ferocious breeds of dog

DGFT

- Amendments in Para 4.14 and 4.06 of the Handbook of Procedures 2023

SEBI

- Repeal of circular(s) outlining procedure to deal with cases where securities are issued prior to April 01, 2014, involving offer / allotment of securities to more than 49 but up to 200 investors in a financial year

Customs

- Waiver of charges for late filing of Bill of Entry – Reg.

More Circulars

News News, PIB

CCI approves 100% acquisition of Lanco Amarkantak Power Limited by Adani Power Limited


CCI approves subscription to CCPS B of API Holdings by MEMG LLP and 360 ONE


Calendar for Auction of Government of India Treasury Bills (For the Quarter ending June 2024)


Issuance Calendar for Marketable Dated Securities for April-September 2024


Government’s Borrowing plan for first half of FY 2024-25


DPIIT conducts stakeholder consultation on “Enabling Women Workforce Participation in Logistics Sector”


DRI seizes over 1.5 kg cocaine worth around Rs. 15 crore, two, including a Nigerian National, held


Safe banking practices – protecting the young (Speech by Shri Swaminathan J, Deputy Governor, Reserve Bank of India - March 18, 2024 - at the Global Money Week 2024 in Paris, France)


4th Shanghai Cooperation Organisation Startup Forum organized in New Delhi


All Agency Banks to remain open for public on March 31, 2024 (Sunday)


CCI approves acquisition of Kesoram Cement Business from Kesoram Industries Limited by UltraTech Cement Limited


CCI approves acquisition of certain shareholding of Shriram Investment Holdings Private Limited by Shriram Ownership Trust.


Directorate of Income Tax (Investigation), Delhi, sets up 24X7 Control Room and toll-free Mobile Number 9868168682 in connection with the General Elections to Lok Sabha, 2024


Gross Direct Tax collections for Financial Year (FY) 2023-24 register a growth of 18.74%


Startup Mahākumbh witnesses record-breaking participation and enthusiasm


More News

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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

 

 

 

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