K. P. Abdul Majeed Vs ACIT (Kerala High Court) The next question is as to the commission which could have been assessed at the hands of the assessee for which also the assessee refused to state anything as to the actual percentage. The assessee’s contention is that the same should be confined to that fixed […]
Proper Officer may issue Form GST DRC -07A and Form GST DRC-08A to add VAT/CST arrears in GST system and subsequently recover the arrears as GST arrears.
Market makers provide liquidity to facilitate efficiency in the functioning of the financial markets. Market makers as well as other liquidity providers and their role in creating liquidity in fixed income markets are of particular interest to policymakers, given the relevance of these markets to monetary policy and financial stability.
t may be noted that audit is required for the purpose of giving true and fair view of the financials of a Company by an auditor who is an external party and independent of the transactions being done in the company, giving an unbiased opinion on the affairs of the Company. Such true and fair position of the financials is reported before various Government authorities such as Ministry of Corporate Affairs, Income Tax Authorities, GST Departments, Labor Law authorities etc.
CGST Officials unearth input tax credit fraud of around Rs 34 crore involving 7 firms Based upon specific intelligence, the officers of the Anti Evasion branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East) have unearthed a case of availment/utilization and passing on of inadmissible input tax credit (ITC) through bogus GST invoices […]
Rupesh Rashmikant Shah v. UOI (2019) 417 ITR 169 / 182 DTR 203 / 310 CTR 826 / 266 Taxman 474 (Bom.)(HC) Sub: Whether Compensation awarded by Motor Accident Claims Tribunal – Interest on compensation awarded up to date of order of Tribunal or Court is taxable . FACTS OF THE CASE: Petitioner when he […]
If we are a shareholder in a company, would we want that company to do well? We would want a higher return on equity or would we like a bigger market capitalisation? Would we want all this at lesser risk, and as a bonus would we also like the company to face fewer governance issues?
Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family], the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset), and the assessee has, within a […]
NFRA Chairman can be Part Time in terms of Companies Act (CA with a Minimum Audit Experience of more than 25 years) It is important to ensure that only CAs with Audit experience of more than 10 years should be considered for nomination for any part-time or full-time members role in NFRA, except Ex-Officio Members.
The Insolvency and Bankruptcy Code, 2016 (IBC) is silent on determining a mechanism for adjudication of disputed claims. There is no provision regarding the appropriate authority which would exercise adjudicatory functions to adjudicate the disputed claims. Whether Adjudicating Authority would be an Adjudicator of disputed claim is not clear under IBC. Section 60(5) of the […]
