ICMAI has decided to align the time limit for generating Unique Document Identification Number (UDIN) in accordance with the CAS-102 on Cost Audit Documentation and the Guidance Manual for Audit Quality by the Quality Review Board of the Institute and amended the time limit of generating UDIN to 60 days by substituting the existing time limit of 15 days from the date of this notification.
In order to avoid genuine hardship to assessees authorizes the Commissioner of Income-tax, posted as Secretary to the Settlement Commission prior to 01.02.2021, to admit an application for settlement on behalf of the Interim Board filed after 31.01.2021
Supreme Court recalls its Suo-Moto extension to limitations w.e.f. October 02, 2021 Brief background: Due to the outbreak of COVID-19 pandemic in March, 2020, this Court took Suo Motu cognizance of the difficulties that might be faced by the litigants in filing petitions/ applications/ suits/ appeals/ all other proceedings within the period of limitation prescribed […]
Jain Distillery Private Limite Vs State Of U.P. (Allahabad High Court) High Court held the State lost its legislative competence to enact laws, to impose tax on sales of ENA, upon the enactment of the 101st Constitution Amendment. Consequently, and upon considering Section 174(1)(i) of UPGST Act, 2017, the impugned Notification dated 17.12.2019, insofar as […]
1.Introduction GST being a new law and the concept of dual GST being a completely new concept, it was found in the initial phase of GST implementation that many taxpayers and professionals alike struggled to identify the correct nature of supply. As a result, the taxpayers classified certain transactions as intra-State supplies when, in fact, […]
The issue relate to demand of service tax on remittance towards services on which service tax was payable as per the Import Rules and has been paid by the Appellant but it has not been accepted by the Department.
CESTAT, Ahmedabad held that the Product Recall Policy expenses is born for the purpose of security of the goods and for this reason the service falls under the definition of input services and is therefore, eligible for CENVAT Credit.
As per section 68 of the Income Tax Act, any sum found credited in the books of a taxpayer, for which he does not explain the nature and source or the explanation provided by him is not satisfactory by the Assessing Officer is termed as ‘Cash Credit‘. Other provisions to be kept in mind with […]
Introduction Aviation sector around the world had its weakest moment during Covid, with a slump in demand for air travel. According to the statistics, globally, air passengers declined by 60 per cent in 2020 compared to 2019. Resultantly, jobs created through the air transport industry fell by 52.5 per cent during the said period. Further, […]
Malook Singh and Others Vs State of Punjab and Others (Supreme Court of India) Facts- The petitioner claimed the benefit of ad hoc service rendered by them towards their seniority as against regularly recruited clerks appointed after them. Conclusion-The decision in Direct Recruits stands for the principle that ad hoc service cannot be counted for […]
