A practical guide to ensuring Bill of Entry data flows correctly from ICEGATE to GSTR-2B. Proper verification prevents ITC blockage and compliance disputes.
The Bill of Entry is the key document for paying IGST on imports and claiming Input Tax Credit. Proper GSTIN reporting and data matching are essential to avoid credit denial.
Under GST, the burden of proof falls on the recipient mainly when they claim input tax credit (ITC); this is codified in section 155 and refined by recent court rulings that also protect bona fide buyers from impossible burdens. 1. Statutory basis – when does burden fall on the recipient? Section 155 – specific rule […]
The Delhi High Court held that prolonged pendency of bail applications causes trauma and violates the fundamental rights of accused persons. Granting bail in a murder case, the Court stressed that bail pleas must be decided promptly, whether allowed or dis-missed.
IRS Publication 523 allows taxpayers to exclude up to 500,000 of gain if ownership and residence tests are met. The article explains eligibility, exceptions, and reporting requirements under U.S. tax law.
The One Person Company structure offers separate legal identity and limited liability under the Companies Act, 2013. It allows single owners to operate with full control and reduced compliance.
Industry expects a dedicated refinance facility for NBFCs to reduce funding costs and strengthen MSME credit flow. The move aims to ensure structural liquidity and stability.
SEBI’s March 2025 circular requires listed companies to disclose total shares on a fully diluted basis, including ESOPs and convertible instruments, enhancing investor transparency.
ESOPs are taxed twice—first as salary perquisite at exercise and later as capital gains on sale. Understanding valuation rules and holding periods is crucial for compliance.
The Delhi High Court ruled that Circular No. 3/3/2017 is legally valid, holding that the Board acted within its statutory powers under the CGST Act. The Court emphasized the presumption of validity and rejected the claim that only the Commissioner could assign functions.
