"10 May 2023" Archive

Instructions to Prevent Fake Taxpayers and Bogus Invoicing under GST

No.CCT-PEI-POL-0155-2021  7869/CT & GST 10/05/2023

Instructions to ensure careful handling of registration, cancellation, and revocation of registration processes for fake taxpayers under GST system...

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The Role of AI in the Evolution of Financial Services

#AD With the rapid advancement of technology, financial institutions are constantly looking for new ways to improve their services. One of the most significant developments in recent years has been the integration of artificial intelligence (AI) into the financial industry. This article explores the impact of AI on financial services and ...

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Surrogacy Act, 2012 and ART Act, 2021 and relevant Insurance Rules thereunder

Circular No. IRDAI/HLT/CIR/PRO/01/05/2023 10/05/2023

Insurance coverage/Guarantee for oocyte donor. (i) The Intending couple or woman will purchase a general health insurance coverage in favor of oocyte donor for a period of 12 months from an insurance company or an agent recognized by the Insurance Regulatory and Development Authority established under the provisions of the Insurance Regul...

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Department directed to issue ‘C forms’ for inter-sate purchase of High Speed Diesel Oil

Premier Tex Products Private Limited Vs Principal Commissioner &

Madras High Court directed department to issue ‘C forms’ under the Central Sales Tax, 1956 for inter-state purchase of High Speed Diesel Oil....

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Service tax not payable on assisting registration of vehicles with RTO

Shakumbhari Automobiles Pvt Ltd Vs CCE, Dehradun (CESTAT Delhi)

CESTAT Delhi held that assisting the registration of the vehicles with the Regional Transport Office (RTO) tax cannot be considered a declared service under section 66E(e) of the Finance Act, 1994. Accordingly, demand of the service tax set aside....

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All about Prevention of Money Laundering Act (PMLA), 2002

Money laundering is illegal process of concealing origins of money obtained illegally by passing it through a complex sequence of banking transfers or commercial transactions....

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Order misplaced due to office renovation – Delhi HC refuses to Condone by revenue in appeal filing

Commissioner of Customs Vs Sadanand Chaudhary (Delhi High Court)

Commissioner of Customs Vs Sadanand Chaudhary (Delhi High Court) It would be necessary for this Court to decide whether the delay in filing the same is required to be condoned. The present appeal was filed on 30.07.2019, which was after the delay of 307 days. Court observed that application seeking condonation of delay is bereft […...

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Gift by a Company: Valid or Void?

The act of company gifting an immovable property is frequently interpreted as a gesture of goodwill or appreciation towards an individual or another entity. However, before engaging in such a transaction, it is critical to understand the legalities and implications....

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Disadvantages of Investment in PPF (Public Provident Fund)

As we all know what are the benefits of investment in PPF and as an individual whether a salaried or non- salaried employee we wall go for investment in PPF because it offers good interest rate along with tax free interest income. Now in this article we will come to know about the disadvantages of […]...

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Mere transfer of right to use any goods or transfer of goods to be used in works not amounts to ‘sale’

Power Grid Corporation of India Ltd. Vs Assessing Authority Sales Tax Circle D Jammu (Jammu and Kashmir High Court)

Jammu and Kashmir High Court held that mere transfer of right to use any goods or even transfer of goods to be used in works or not shall not be a ‘sale’ unless it is supported by consideration....

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