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Archive: January, 2023

Posts in January, 2023

Do’s & Don’ts for Research Analysts registered under SEBI (Research Analysts) Regulations, 2004

January 12, 2023 5415 Views 0 comment Print

Research Analysts offer a unique & necessary perspective on investments. Make sure they act objectively by following the SEBI Regulations. Don’t miss the Dos & Donts!

GST on Services rendered under contract with DUDA and PMAY

January 12, 2023 1128 Views 0 comment Print

The Services rendered under the contract with District Urban Development Agency, Uttar Pradesh (DUDA), and for PMAY are in relation to functions entrusted to Municipalities under Article 243 W and to Panchayats under Article 243G of the Constitution of India.

Rule of consistency cannot be followed due to leakage of revenue

January 12, 2023 936 Views 0 comment Print

ITAT Delhi held that rule of consistency cannot be followed when the assessee has not discharged its onus and there is leakage of revenue.

Taxing over the centuries – Amusing instances

January 12, 2023 1524 Views 0 comment Print

Discover amusing instances of taxes throughout history, from Russian tsar Peter the Great’s beard tax, to Englands coward tax of the past centuries. Keyphrase: Taxing over the centuries – Amusing instances

Regulatory updates for the Month of December 2022

January 12, 2023 5919 Views 0 comment Print

Stay up to date on regulatory changes in India related to new/existing companies – MCA launched 56 company forms & MHA security clearance application for DIN/directorship for citizens of countries sharing land border with India.

VKC Footsteps judgment followed for refund of zero-rated supplies under rule 89(4)

January 12, 2023 5910 Views 0 comment Print

Orissa High Court held that Court does not consider it expedient to go beyond what is stated in Union of India Vrs. VKC Footsteps India Pvt. Ltd., (2022) 2 SCC 603 for the purpose of ascertaining quantum of refund in case of zero-rated supplies as prescribed under Rule 89(4) of the GST Rules .

New Rule 37A – Non-payment of tax by supplier & reversal of ITC

January 12, 2023 12876 Views 0 comment Print

Recipient of goods or services can avail Input Tax Credit, but what if the supplier fails to pay the tax? Discover Rule 37A and when ITC must be reversed with this blog post!

Sufficiency/ correctness of material relied by AO for re-opening not to be considered

January 12, 2023 1449 Views 0 comment Print

Gujarat High Court held that when AO has reason to believe and have prima facie material for commencement of re-assessment proceedings, sufficiency/ correctness of the material is not a thing to be considered. Reopening justified.

Sikko Sol not used in Automobile not classifiable under 2710 12 13

January 12, 2023 750 Views 0 comment Print

CESTAT Kolkata held that Sikko Sol no used in Automobile and hence not classifiable under tariff item 2710 12 13 of CETA 1985 hence duty demand thereon unsustainable.

Importance of PAN Card & How to Track It

January 12, 2023 2565 Views 3 comments Print

Permanent Account Number or PAN is a unique identification number that is assigned to people and entities by the Indian government. This card is used for diverse purposes, encompassing paying taxes and filing tax returns.

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