"11 May 2023" Archive

GST Case Law Compendium – May Edition

HC held that Rule 89 (4)(c) of CGST Rules which restricts exports made without payment of tax (i.e., under Letter of Undertaking model (LUT Model)) to 1.5 times value of like goods supplied domestically is unconstitutional and ultra vires of the provisions of the GST law ...

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ICAI Convocation May 2023- For newly enrolled Members

The next ICAI Convocation will be held at following Cities as per dates mentioned, for Members who are enrolled during the period from 1st October 2022 to 30th April 2023....

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Electronic Invoice (E-Invoice) under GST – Benefits & Process of E-Invoicing

E-invoicing is a process of electronically generating invoices and reporting them to the government's GST portal for record-keeping and compliance purposes. Threshold limit for the applicability of E-invoice reduced from INR 10 Crores to INR 5 Crores. When aggregate turnover exceeds 5 crore in any of the previous 5 years, for the purpose ...

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Device based Tokenisation – Card Transactions

A tokenised card transaction is considered safer as the actual card details are not shared with the merchant during transaction processing....

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All about Debit Cards, Credit Cards, electronic Cards & Prepaid Cards

Cards can be classified on the basis of their issuance, usage and payment by the card holder. There are four types of cards (a) debit, (b) credit, (c) prepaid, and (d) electronic....

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Early Bird missed the Flight while complying 80G Registration procedures

Early Bird missed the Flight while complying 80G Registration procedures under New Scheme of Exemption framework of Charitable Institutions. Provisional Registration to Regular Registration Finance Act 2020 has rationalized the provisions relating to charitable trusts or institutions wherein the concept of one-time registration was replac...

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HC directs govt to provide reason for rejection of registration application of Haj Operator

AL Hatim Tours And Travels Pvt. Ltd. Vs Union of India (Delhi High Court)

AL Hatim Tours And Travels Pvt. Ltd. Vs Union of India (Delhi High Court) The petitioners are private Haj Operators (HGO). They arrange tours to the holy shrines of Mecca/Madina in Kingdom of Saudi Arabia. The Government of India has an agreement with the Kingdom of Saudi Arabia, per which, quotas are allotted to India […]...

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Quick Start Guide to e-invoicing under GST

This article aims to provide the practical and important information relating to e-invoice in a concise manner to alleviate the fear of e-invoicing in the minds of the taxpayers. It does not purport to cover the entire gamut / legal provisions relating to e-invoicing or the process of generating an e-invoice....

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Inverted Duty Structure under GST – An Overview

Ever since the formula has been amended in July 22 for refund of accumulated ITC under Inverted Duty Structure, the scope for obtaining refund has widened and businesses can be benefited by converting the idle credit into cash, thereby contributing towards the working capital requirements....

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111 FAQ’s on Statutory Powers of National Investigation Agency (NIA) 

(A) Overview on NIA’s Statutory Powers in India 1. Object + need (both) for establishing NIA in India (i) India already victim of large scale terrorism being sponsored from outside India like Pakistan + etc. (ii) Innumerable incidents of terrorist attacks already made on India for militancy + insurgency affected by Left Wing Extremism +...

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May 2023