An issuer shall disclose the denotation in the Centralized Database for corporate bonds/ debentures by filling the denotation i.e. GB-T in sub point 6 i.e. Others (Please specify) of point 10. i.e. Type of Instrument of Annex-XIV-A to Chapter XIV (Centralized Database for corporate bonds/ debentures) of the Operational Circular dated August 10, 2021 (and as amended from time to time).
Amended instructions of Section 64 of the MD on KYC are provided in annexure for reference. Further, definitions of relevant terms used in amended Wire Transfer instructions are being added in Section 2 (Definitions) of MD on KYC.
Since quantum appeal itself is being quashed, penalty levied as against reassessment order for furnishing inaccurate particulars has no legs to stand and same is liable to be quashed.
Menace of fake registrations and issuance of bogus invoices for passing of fake ITC has become a serious problem, wherein fraudulent people engage in dubious and complex transactions, causing revenue loss to the government.
Beekay Steel Industries Limited Vs Commissioner of CGST & CX (CESTAT Kolkata) We find that the Ld. Commissioner in the denovo Order-in-original which is also the order impugned has recorded that the details of invoices mentioned in the documents submitted by the assessee were matched with the copies of invoices submitted and were found to […]
Nagappan Arunachalam Vs ITO (ITAT Delhi) The ld. CIT(A) has sustained an addition u/s 69A equal to 50% of the peak balance in HSBC accounts jointly held with the spouse. The Ld. CIT(A) erred in holding that the Appellant was not able to rebut the issues raised by the AO during remand proceedings as the […]
In case obligation under Rule 6(3) of Cenvat Credit Rules is fulfilled in respect of the goods cleared under full exemption then benefit of Notification 67/1995-CE dated 16.03.1995 cannot be denied.
State Bank of India Vs C.C. E. & S.T.–Surat (CESTAT Ahmedabad) find that the services provided by the appellant are in relation to the disbursement of EPF and ESI. Notification No. 13/2004-ST dated 10.09.2004 provides following exemption: “…. exempts taxable service provided by a banking company or a financial institution including a non-banking financial company, […]
Explore the Bombay High Court’s verdict on GST Intermediary Services in the case of Dharmendra M. Jani. Detailed analysis of orders dated 09.06.2021, 17.06.2021, and 18.04.2023.
Standards on Auditing- SA 570 Going Concern deals with the auditor’s responsibilities in the audit of Financial statements relating to going concern and the implications on the auditor’s report.
