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For the first time ever, India’s monthly exports of mobile phones surpassed the $1 billion threshold in September 2022 with y-o-y growth of more than 200%. Mobile phone exports: April 2022 – September 2022 : $ 4.2 billion April 2021 – September 2021 : $ 1.7 billion Meaning, as compared to same period last year, […]
Stay updated on the latest GST changes and amendments till September 2022. Explore conditions for ITC in GSTR-2B, time limits for credit notes, and ITC availing modifications.
Transaction of sale of Unquoted equity shares will result in double taxability of difference between the FMV and transaction Value once in the hands of the Seller under Section 50CA under the Head Capital gain and again in the hands of the Buyer under Section 56(2) (x) under the head Income from Other Sources
In present facts of the case, the Honble Madras High Court while disposing of the writ petition observed that the petitioner have alternative remedy to file appeal and have also directed to deposit Rs. 25,00,000/- for saving the premises from getting sealed by authorities.
Delhi High Court held that based on principle of initial interest confusion trademark infringement proved for using RAJNIPAAN, similar to take to well-known trademark RANJIGANDHA, even though no actual sale is finally created as a result of the confusion.
ITAT Delhi as regards contention of notice not properly serviced held that as per postal authorities explanation the assessee has refused to take notice and such refusal to take a notice is a good service.
CESTAT Kolkata held that the activity of loading and unloading of goods was instantly for transportation and therefore said services were classified as Goods Transport Agency and not Cargo Handling Services accordingly exempted under notification no. 17/2009.
In present facts of the case, the Honble Delhi High Court held that the pre-show cause notice consultation is mandatory under Section 28 of the Customs Act, 1962
This is a new condition which is to be satisfied for availment of input tax credit. In GSTR-2B, if the ITC appears in Restricted category, the same cannot be availed by the registered person. Cases where the ITC can be restricted under GSTR-2B has been discussed in Section 104 below.
