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AAR ruled that no GST will be chargeable on the hiring of a transportation vehicle by a Goods Transportation Agency (GTA) and also has no liability under Reverse Charge Mechanism (RCM).
AAR ruled that the Notification amending the tax rate from 18% to 12% on Composite Supply of Works Contract can only be applied prospectively, if an enactment does not expressly provides that it should be deemed to have come into effect form a past date.
ICAI being a prominent and world class educational institution actively works towards expanding the ecosystem for development of Commerce education in the country and to attract the best talent to the profession through Career Counselling, as also build the capacity and competency of the CA students through various interactive initiatives like CA Student Conferences.
Understand the steps and precautions to ensure compliance of SA 230 with related party transactions. Explore limit thresholds, board approval & more. Summary of compliance for related party transactions.
Understand the scope of section 143(1)(a) for delayed deposit of PF/ESIC contributions under ITAT Mumbai-P.R. Packaging Service v ACIT (Mum.)(Trib.) (ITA No. 2376/Mum/2022),
ITAT Surat held that there is no specific provision in the Income Tax Act that non-deciding the registration application under Section 12AA within a period of six months there shall be a deemed registration.
ITAT Delhi held that typographical error is to be rectified by filing a rectification application under section 154 of the Income Tax Act and not by preferring an appeal.
ITAT Chandigarh held that as tax finally assessed would be equal to the tax deducted at source and hence there is no basis for levy of penalty u/s 271(1)(c) of the Income Tax Act.
Uncovering the mystery around the applicability of Moratorium as laid out in Section 14(1)(a) of the IBC, 2016- An insight on the legal battle surrounding it.
HC held that SCN that does not contain reason to justify cancellation of registration therefore, is violative of principles of natural justice and needs to be quashed.
