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Archive: 01 July 2022

Posts in 01 July 2022

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 16, 2024 3864 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 3501 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

Request by Bank for issuance of ‘Look Out Circular’ for recovery of dues was unjustified unless it affects economic interest of country

July 1, 2022 1722 Views 0 comment Print

Request by Bank for issuance of Look Out Circular for recovery of dues was unjustified as the  action of Bank was arbitrary, unreasonable and unfair because the Bank was holding security of value of which was more than the amount due from assessee. Any action of the State if it was arbitrary and unreasonable was liable to be interfered.

Maximum time limit is 60 days for demurrage & detention charges waivers

July 1, 2022 4431 Views 0 comment Print

Since the maximum period of demurrage and detention charges waivers could be possible for 60 days, beyond which, there was no scope for such demurrage and detention charges waiver in view of the proviso to Regulations 10(l) of 2018 Regulations, since the said two months period had already been given from 18.11.2021 to 13.01.2022, beyond 13.01.2022, assessee could not seek for any such waiver for detention and demurrage charges.

Applicability of Accounting Standards (AS)

July 1, 2022 39477 Views 2 comments Print

Understand the applicability of accounting standards (AS) for corporate and non-corporate entities. Learn about the different levels and exemptions based on entity size.

Expenditure for setting-up of business allowable as deduction despite absence of business income

July 1, 2022 2730 Views 0 comment Print

Expenditure incurred would be allowable as deduction, notwithstanding the fact that no business income was earned by the assessee.

Valuation under Section 194R – A Vexed Question!

July 1, 2022 3882 Views 0 comment Print

Understanding the complexities of valuation under Section 194R. Learn about the challenges and implications of tax deduction at source (TDS) in non-cash transactions.

जीएसटी के 5 साल – चुनौतियों का सामना और आगे की राह

July 1, 2022 4971 Views 1 comment Print

1 जुलाई को 2022 GST भारत में लागू होने के 5 साल पूरे कर रहा है। इन 5 वर्षों ने कई चुनौतियों के साथ कई सुनहरे पल दिए हैं। इन चुनौतियों का सामना करदाताओं और पेशेवरों के साथ – साथ जीएसटी अधिकारियों और सरकार को करना पड़ा। इस 5वीं वर्षगांठ के विशेष लेख में, मैं […]

July 2022 GST and Income Tax Compliance Calendar

July 1, 2022 6207 Views 0 comment Print

Stay compliant with the July 2022 GST and Income Tax deadlines. Learn about the due dates for TDS, PF/ESIC, and GST 3B payments.

Alleged bogus GST billing syndicate: HC grants Bail to Accused

July 1, 2022 1386 Views 0 comment Print

Dharmesh Kirtikumar Saha Vs Union of India (Gujarat High Court) Facts: Applicant has entered into a criminal conspiracy for creating fake purchases of 2 (two) firms with well organize bogus billing syndicate which resulted into monetary loss of the government exchequer to the turn of Rs 9.33 crores. Applicant was served summon, however he didn’t not […]

ROC imposes penalty for not mentioning CIN on Financials

July 1, 2022 47265 Views 0 comment Print

As per Section 12(3)(c) of the Companies Act, 2013, ‘every company shall get its name , address of its registered office and Corporate Identity Number along with telephone number, fax number, if any, e mail and website addresses, if any , printed in all its business letters, bill heads, letter papers, and in all its notices and other official publications.’

Ease of Doing Business in India – Best time to be in India

July 1, 2022 3009 Views 1 comment Print

A favorable business environment is a prerequisite for the economic growth of a nation. A country like India which is among the fastest developing countries in the world has the potential to surpass the leading countries in terms of business.

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