Latest Updates on Income Tax, GST, Customs, Corporate Laws & more
Highlights 
Articles
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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
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How to become a crorepati via SIP
May 3, 2024
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Roving Judgements!
May 3, 2024
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DISTINCTION BETWEEN DEATH OF PLAINTIFF AND DEFENDANT DURING PENDENCY OF INJUNCTION
May 2, 2024
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A Comprehensive Guide to Inter-State and Intra-State Supply
May 2, 2024
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Intermediary Services Nexus with Export of Services
May 2, 2024
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Assessment Order not valid when Petitioner could not file reply due to cancellation of GST Registration
May 2, 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
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
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
SEBI
- Securities and Exchange Board of India (Research Analysts) (Amendment) Regulations, 2024April 26, 2024
SEBI
- Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2024April 26, 2024
Cus (NT)
- Appointment of Common Adjudicating Authority for the purpose of adjudication of finalization of Provisional Assessment in SVB case w.r.t. M/s Tyco Fire & Security India Pvt. LtdApril 26, 2024
SEBI
- Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2024April 25, 2024
FTP
- Export of 2,000 MT of White Onion under Code 0703 10 19April 25, 2024
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
Circulars/ Public Notices
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
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
- 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
Customs
- Verification of authenticity and genuineness of Certificate of Origin (CoO) issued by UAE AuthorityMay 1, 2024
Customs
- Acceptance of Electronic Certificate of Origin (e-CoO) issued by the issuing Authority of Korea under India-Korea Comprehensive Economic Partnership Agreement after implementation of India-Korea Electronic Origin Data Exchange System (EODES)May 1, 2024
SEBI
- Ease of doing business- Fund manager for Mutual fund schemes investing in commodities and overseas securitiesApril 30, 2024
SEBI
- Nomination for Mutual Fund Unit Holders – exemption for jointly held foliosApril 30, 2024
SEBI
- Relaxation in requirement of intimation of changes in the terms of Private Placement Memorandum of Alternative Investment Funds through Merchant BankerApril 29, 2024
DGFT
- Corrigendum to Public Notice No.01/2024 dated 9th April, 2024 on modification of SION E-124 for export item Refined Sunflower Oil (Edible Grade)April 29, 2024
SEBI
- Framework for Category I and II Alternative Investment Funds (AIFs) to create encumbrance on their holding of equity of investee companiesApril 26, 2024
SEBI
- Flexibility to Alternative Investment Funds (AIFs) and their investors to deal with unliquidated investments of their schemesApril 26, 2024
News
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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
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Combined Index of Eight Core Industries (ICI) increases by 5.2 per cent (provisional) in March, 2024 as compared to March, 2023
April 30, 2024
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RBI releases Draft Master Direction – Reserve Bank of India (Electronic Trading Platforms) Directions, 2024
April 30, 2024
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Auction for Sale (re-issue) of (i) ‘7.33% GS 2026’, (ii) ‘7.23% GS 2039’ and (iii) ‘7.34% GS 2064’
April 29, 2024
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RBI invites comments on the Draft Circular on “Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders”
April 27, 2024
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Important Update: Enhancement in the GST Portal
April 27, 2024
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CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
April 25, 2024
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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
Forum - Popular issues
Payment to cine or tv artists. liability under rcm (32)
Sec 16(4) reversal of itc when 3b is filed belatedly (19)
Registration-another state (19)
Penalty under section 73(1) of cgst act, 2017 (16)
Issue regarding discharge of gross tax liability while filing gst returns (15)
Gst on hostel / pg (13)
Goods sent for exhibition and get consumed during display (13)
Section 16 (2) (c) (13)
Gst on drc (13)
Reversal of igst itc and payment through drc 03 (13)
Penalty under section 122(1)(ii) of the gst act (12)
Query regarding section 16(4) of cgst act (11)
Notification no. 3/2023 - compensation cess (rate) dt. 26.07.2023-is it retrospective? (11)
Section 73(11) (10)
Forum - Recent Replied Issues
Inquiry by the appellate authority (2)
Refund of igst charged and collected from foreign customer on export of ser ... ... (4)
Sales against 0.1% gst- if export not done within 90 days ... (7)
Itc of fy 2017-18 blocked (10)
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)
Export services without lut (7)
Addition of unaccounted supplies in the returns ... (7)
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
