clarification regarding GST rates & classification on various Goods as per the recommendations of the GST Council in its 45th meeting held on September 17, 2021 in Lucknow Gist of Circular No. 163/19/2021-GST dated October 06, 2021 ♦ CBIC clarifies applicability of GST on fresh and dried fruits and nuts The exemption from GST to […]
V. Prabhakara Vs Basavaraj K. (Dead) By Lr. & Anr. (Supreme Court) A testamentary court is not a court of suspicion but that of conscience. It has to consider the relevant materials instead of adopting an ethical reasoning. A mere exclusion of either brother or sister per se would not create a suspicion unless it […]
Paytm Payments Bank Limited has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide notification DoR.LIC.No.S926/16.03.006/2021-22 dated September 06, 2021 and published in the Gazette of India (Part III – Section 4) dated October 02-October 08, 2021.
Prohibition on export of Red Sanders wood in log form has been relaxed for export of 810.1894 MT of Red Sanders wood in log form Forest, Environment & Climate Change Department, Government of Odisha. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan New Delhi New […]
Ministry of Finance today released an amount of ₹40,000 crore to the States and UTs with Legislature under the back-to-back loan facility to meet the shortfall in GST Compensation. Earlier on 15th July, 2021 an amount of ₹75,000 crore was released to the States & UTs with legislature.
Section 44AE(3)] The assessee will be deemed to have been allowed the deductions under sections 30 to 38. Accordingly, the written down value of any asset used for the purpose of the business of the assessee will be deemed to have been calculated as if the assessee had claimed and had actually been allowed the deduction in .
Section 143(1)(a) of the Act provides that where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed after making specific adjustments as mentioned under clauses (i) to (v) of 143(1)(a) to the compute of the total income or loss. An adjustment shall be made only after giving intimation and providing an opportunity to the assessee to respond within thirty days of issue of such intimation.
GST and Inverted Duty Structure: SC Upheld Constitutional Validity of RULE 89(5): No Refund For Accumulated ITC on Input Services In Union of India & Ors Vs. VKC Footsteps India Pvt Ltd dated; 13th September, 2021, the Hon’ble apex court has upheld that Rule 89(5) which denies refund of unutilised ITC in respect of input […]
Section 16(4) of the Central Goods and Services Tax Act, 2017 (similar provision in SGST and UTGST Acts) is arguably one of the most dreaded provisions of GST laws which substantially curb the right of a taxpayer so far as his entitlement to ITC is concerned. It seriously hits the basic premise of GST which […]
Adding a case law to each answer makes it more effective and leaves a good impression on the teacher reviewing your answer sheet. This indicates that a student is working through the case and is well prepared to respond to it. In particular, the company secretary has various law subjects and students’ studies and consult […]
