Held that the re-assessment and addition of the duly accounted cash sales of the assessee as unexplained cash credits u/s 68 by the AO without rejection of the books of account of the assessee u/s 145(3) of the Act is unjustified
Understanding the GST applicability on liquidated damages, compensation, and penalty. Get clarity on how GST is applicable in breach of contract scenarios.
Discover the benefits of UAE-Mainland Company Registration. Choose between free zone and mainland options for your business in the United Arab Emirates.
Allen Career Institute Vs JCIT (ITAT Jaipur) Disallowance of Rs.2,01,515/- on account of New Electricity Connection charges. In Ground of Appeal disallowance of Rs. 2,01,515/- made relating to the claim on account of electric connection charges, is agitated. The AO noted that the assessee had claimed expenditure of Rs.2,37,076/- for new electricity connection charges. When […]
Held that the power to grant bail is not to be deployed as a mechanism for imposing sentence even before a guilt is yet to be proved and established.
Smarte Solutions Pvt. Ltd. Vs Union of India (Bombay High Court) The Hon’ble High Court, Bombay in the matter of M/s Smarte Solutions Pvt. Ltd v. Union of India [Writ Petition no. 503/2021 dated July 27, 2022] directed the department to consider the application for Services Export from India Scheme (“SEIS”) benefits on the ground […]
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO. 2305 TO BE ANSWERED ON MONDAY, 01st AUGUST 2022 SRÃVANA 10, 1944 (SAKA) Tax on Cannabis 2305. SHRI K. MURALEEDHARAN: Will the Minister of FINANCE be pleased to state: (a) whether the Government has any plan to legalise cannabis and tax […]
GST rates are prescribed on the recommendation of the GST Council in terms of the relevant provisions of the Constitution and apply uniformly to all states.
Insurance Regulatory and Development Authority of India EXPOSURE DRAFT INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (REGULATORY SANDBOX) (AMENDMENT) REGULATIONS, 2022 1. The Authority has notified the IRDAI (Regulatory Sandbox) Regulations, 2019 with a validity of two years to facilitate innovation in products or solutions proposed to be offered by the insurance companies and other […]
At present, the products are not covered in GST and no recommendation has been made so far by the GST Council, therefore, it would be pre-mature to assess the financial loss likely to be suffered by the State Governments on inclusion of these products in GST.
