Latest Updates on Income Tax, GST, Customs, Corporate Laws & more
⇒ APPEAL TO HIGH COURTS IN GST
⇒ ATTACHEMENT OF CURRENT ACCOUNT AFTER APPROVAL OF RESOLUTION PLAN
⇒ Assessment Order issued without taking into consideration reply filed by the Assessee is not valid
⇒ PRESUMPTIVE TAXATION FOR BUSINESS OF PLYING OR HIRING OR LEASING GOODS CARRIAGES UNDER SECTION 44AE
⇒ GST demand cannot be raised based on figures in Profit and Loss Account
⇒ PRESUMPTIVE TAXATION FOR BUSINESS
Income 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 HoldersIBC:
IBBI Circular Update: Key Takeaways for Insolvency Professionals and StakeholdersIncome Tax:
Modes of filing of ITR: Amendments to Rule 12 of the Income Tax Rules 1962Cus (NT)
- Sea Cargo Manifest and Transhipment (First Amendment) Regulations, 2024.Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverUTGST
- Seeks to amend Notification No. 04/2019 – Union Territory Tax, dated the 16th May, 2019FTP
- General Authorisation for export of Telecommunication-related items and Information Security items covered under category 8A5 of SCOMETIT
- Income-tax (Fifth Amendment) Rules, 2024ADD
- Corrigendum - Notification No. 01/2024-Customs(ADD), Dated 15.01.2024IT
- Exemption from specified income U/s 10(46) – ‘National Mission for Clean Ganga’, New Delhi, notifiedCus (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, 2024FTP
- Amendment in export policy of OnionsFTP
- Amendment of policy condition of Crude Oil under HS Code 2709 00 10IT
- Disclosure of information respecting assessees U/s 138(1) of IT Act 1961 - Central Government specifies Principal Secretary, Planning Department, Government of Uttar PradeshSEZ
- 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 NaduSEZ
- 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 MaharashtraIT
- Corrigendum - Notification No. 27/2024 dated 5th March, 2024IT
- 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.DGFT
- Amendment in Appendix 4B of Handbook of Procedures, 2023DGFT
- Notification of the procedure for General Authorisation for Export of Information Security items(GAElS) under Category 8A5 Part 2 of SCOMETDGFT
- Notification of procedure for General Authorisation for Export of Telecommunication items (GAET) under Category 8A5 Part I of SCOMETCustoms
- 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 MarketsDGFT
- Amendments under Interest Equalization SchemeSEBI
- Safeguards to address the concerns of the investors on transfer of securities in dematerialized modeSEBI
- Amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteriaCustoms
- 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-KUADGFT
- 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 litigationCustoms
- Prohibition for import of ferocious breeds of dogDGFT
- Amendments in Para 4.14 and 4.06 of the Handbook of Procedures 2023SEBI
- 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⇒ GeM crosses ₹ 4 Lakh Crore in GMV at the end of this Fiscal Year, doubles business in a year
⇒ Monthly Review of Accounts of Government of India upto February, 2024 for Financial Year 2023-24
⇒ 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
⇒ DRI seizes over 1.5 kg cocaine worth around Rs. 15 crore, two, including a Nigerian National, held
⇒ 4th Shanghai Cooperation Organisation Startup Forum organized in New Delhi
⇒ All Agency Banks to remain open for public on March 31, 2024 (Sunday)
Itc claim under wrong head (15)
Reversal of igst itc and payment through drc 03 (13)
Gst on drc (13)
Gst paid on royalty- entitlement of itc on the portion of royalty (13)
Excess gst paid in gstr-3b reclaim in next month (11)
Penalty under section 122(1)(ii) of the gst act (11)
Regarding excemption on rent (11)
Penalty u/s 129 and 130, section 17(5)(i) (11)
Query regarding section 16(4) of cgst act (11)
Gst implication on non metals clad with precious metals (10)
Inclusion of rental business location as additional place of business (pob) (10)
Adhoc demand of gst on indirect expenses in gst scrutiny (9)
Single gst registration is sufficient for a state (9)
Applicability of itc reversal as per s.16(2) (9)
Rcm liability on royalty charged / paid to mines owner (9)
Forum - Recent Replied Issues
E-way bill applicability in case of waste and scrap of furniture and comput ... ... (3)
Section 8/25 of the legal metrology act,2009 ... (1)
Igst amount shown as duty foregone in bill of entry for goods not attracting igst ... (5)
Itc eligibility in case of gst return of march,2020 filed in december,2020. ... (7)
Itr u filing - reporting of refund claimed in original itr while filing itr u ... (1)
Statement u/s 132(4) against third party (1)
Applicability of gst on commission (1)
Eligibility of credit availed on the basis of cross charge invoice issued b ... ... (5)
Claim of input tax credit- gst returns filed belatedly by supplier ... (8)
Can one challan be used for payment of tds deducted under different sections ... (1)
Rcm liability on freight paid for transporation of exemptd goods ... (6)
Gst applicability on brand/ logo usage by group companies ... (8)
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