Latest Updates on Income Tax, GST, Customs, Corporate Laws & more
Highlights 
Articles
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REFUND OF ITC ON EXPORT OF GOODS WITHOUT PAYMENT OF TAX – RULE 89(4) OR RULE 89(4B)?
April 25, 2024
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FILING APPEAL AS PER THE DIRECTIONS OF HIGH COURT
April 25, 2024
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Understand the Contrasts between Government and Public Limited Companies
April 25, 2024
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PIL challenging provisions of 101st Constitutional Amendment Act relating to GST dismissed
April 25, 2024
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Excess or Short Payment of Customs Duty on Import of goods into India
April 24, 2024
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AVAILABILITY OF GOOD FAITH CLAUSE IN SECTION 157 OF THE GST ACT TO THE OFFICERS OF THE STATE
April 24, 2024
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Understanding the Scope of Accounting.
April 24, 2024
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GST not payable on amount recovered from permanent employees for canteen facility provided by employer
April 24, 2024
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GST COLLECTION – NET COLLECTION DESERVE PUBLICATION/ REPORTING INSTEAD OF GROSS COLLECTION – there may be huge liability of ITC for various reasons.
April 23, 2024
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Demand should not be raised when negative taxable and invoice value arise due to erroneous reporting of Credit Notes
April 23, 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) – ‘Kerala Autorickshaw Workers Welfare Fund Scheme, Kollam, notifiedApril 24, 2024
IT
- Under section 80G(2)(b) the Central Government Notified “Shree Ramanuj Kot Laxmi Venkatesh Mandir” managed by Shree Ramanuj Kot Trust, Indore, Madhya PradeshApril 23, 2024
FTP
- Streamlining of Halal Certification Process for Meat and Meat ProductsApril 23, 2024
IT
- Amendment in Notification No. 60/2022 dated the 10th June, 2022 read with corrigendum Notification Number 78/2022 dated the 4th July, 2022April 22, 2024
FEMA
- Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2024April 19, 2024
FEMA
- Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2024.April 19, 2024
Cus (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, 2024April 18, 2024
FEMA
- Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2024.April 16, 2024
Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverApril 15, 2024
CE
- 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.April 15, 2024
FTP
- Export of Onions (under HS Code 07031019) to Sri Lanka and UAE.April 15, 2024
FTP
- Imposition of Port restrictions on supply of Prohibited/Restricted essential commodities to the Republic of Maldives during 2024-25.April 15, 2024
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 personsApril 12, 2024
CGST
- 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 goodsApril 10, 2024
IT
- 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 35April 9, 2024
Circulars/ Public Notices
FEMA
- Unauthorised foreign exchange transactionsApril 24, 2024
SEBI
- Cross Margin benefits for offsetting positions having different expiry datesApril 23, 2024
Income Tax
- Partial modification of Circular No. 3 of 2023 dated 28.03.2023 regarding consequences of PAN becoming inoperative as per rule 114 AAA of the Income-tax Rules, 1962April 23, 2024
Customs
- Extension period for 3 months to Ortho-phosphoric Acid which is used for manufacturing of Fertilizers from applicability of BIS standard IS 798:2020 implemented through QCO dated 13.05.2022April 22, 2024
DGFT
- Discontinuation of Safeguard measures on import of Isopropyl alcohol (IPA), under Chapter 29 of ITC (HS) 2022, Schedule-I (Import Policy).April 18, 2024
SEBI
- Circular on Standardization of the Private Placement Memorandum (PPM) Audit ReportApril 18, 2024
Insolvency 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’.April 18, 2024
FEMA
- Hedging of Gold Price Risk in Overseas MarketsApril 15, 2024
DGFT
- 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 suppliesApril 12, 2024
Customs
- Inclusion of gender specific infrastructure facilities to be provided by the Custodian CCSP-CFS/AFS/ICD under the HCCAR, 2009-regApril 10, 2024
DGFT
- Implementation of Melon Seeds Import Monitoring System (MS-IMS)April 9, 2024
DGFT
- Modification of SION E-124 for export of refined Sunflower Oil (Edible Grade)April 9, 2024
SEBI
- Entities allowed to use e-KYC Aadhaar Authentication services of UIDAI in Securities Market as sub-KUAApril 5, 2024
Customs
- 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.April 5, 2024
DGFT
- Directives regarding submission of digitized ANFs, Appendices etc.April 2, 2024
News
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CCI approves subscription to compulsory convertible debentures of Napino Auto and Electronics Limited by International Finance Corporation (IFC)
April 24, 2024
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Competition Commission of India (CCI) invites proposal for launching Market Study on Artificial Intelligence and Competition in India
April 22, 2024
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Auction for Sale (re-issue) of (i) ‘7.10% GS 2034’ and (ii) ‘7.46% GS 2073’
April 22, 2024
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Minutes of the Monetary Policy Committee Meeting, April 3 to 5, 2024 [Under Section 45ZL of the Reserve Bank of India Act, 1934]
April 22, 2024
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Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh crore i.e. by 7.40%
April 22, 2024
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CCI approves acquisition of stake in PAMP Technologies (India) Private Limited and MMTC PAMP India Private Limited by PAMP Ventures SA
April 17, 2024
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Regulation of Payment Aggregators (PAs) – Draft Directions
April 17, 2024
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CBDT signs record number of 125 Advance Pricing Agreements (APAs) in FY 2023-24
April 17, 2024
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Auction for Sale (issue/ re-issue) of (i) ‘7.37% GS 2028’ and (ii) ‘New GS 2064’
April 15, 2024
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Index Numbers of Wholesale Price in India for the Month of March, 2024 (Base Year: 2011-12)
April 15, 2024
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Extension of Due date of GSTR-1 for the period March 24
April 15, 2024
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Extension of GSTR-1 due date to 12th April 2024
April 12, 2024
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Sixteenth Finance Commission (XVIFC) invites applications for Young Professionals (YPs)/Consultants on contract basis
April 12, 2024
Forum - Popular issues
Payment to cine or tv artists. liability under rcm (26)
Registration-another state (19)
Issue regarding discharge of gross tax liability while filing gst returns (15)
Goods sent for exhibition and get consumed during display (13)
Section 16 (2) (c) (13)
Gst on drc (13)
Gst on hostel / pg (13)
Reversal of igst itc and payment through drc 03 (13)
Penalty under section 122(1)(ii) of the gst act (12)
Notification no. 3/2023 - compensation cess (rate) dt. 26.07.2023-is it retrospective? (11)
Query regarding section 16(4) of cgst act (11)
Section 73(11) (10)
Rcm liability on royalty charged / paid to mines owner (9)
Adhoc demand of gst on indirect expenses in gst scrutiny (9)
Forum - Recent Replied Issues
Bill to a overseas company supply of goods locally ... (3)
Credit note (3)
Man power supply to poultry farm - taxable or exempt ... (6)
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)
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
