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Archive: 19 May 2023

Posts in 19 May 2023

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 4065 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 3663 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

DIN of director not mentioned in ADT-1 for Auditor appointment- Penalty Imposed

May 19, 2023 7758 Views 0 comment Print

Penalty imposed by Registrar of Companies, on Kosamattam Nidhi Limited for the omission of Director’s DIN in their ADT-1 form.

Trust Deed – Agreement of Trust

May 19, 2023 5085 Views 0 comment Print

Explore a comprehensive Trust Deed Agreement outlining key clauses for a Charitable Trust. Learn about trustees roles, contribution methods, dispute resolution, and more. Download this customizable Agreement of Trust for your specific needs.

Impact of GST on Software sales

May 19, 2023 4899 Views 0 comment Print

GST on Software sales – Whether it is a goods/service and composite/mixed supply and If supplied outside India, whether treated as export ?

Section 234E late fee is not always mandatory and can be waived

May 19, 2023 14703 Views 2 comments Print

Kanta Govind Singh Vs ACIT CPC TDS (ITAT Ahmedabad) Assessee, aged 85 years, purchased property from non-residents joint owners. TDS was deducted u/s 195 at lower rates as the sellers obtained lower tax certificates. Sale consideration was paid on 20.06.19 & TDS was also paid on the same day though assessee could have paid the […]

ITAT allows rectification of Mistake by Assessee in treating Capital receipts as revenue receipt

May 19, 2023 1560 Views 0 comment Print

DCIT Vs Kashmir Steel Rolling Mills (ITAT Amritsar) The undisputed facts in the present case are that the assessee claimed excise duty refund and interest subsidy as revenue receipt in the return of income and the assessment order was passed on 17.12.2009. The Hon’ble Jurisdictional High Court of J & K in the case of […]

IBBI suspends IP for 2 years for contravention of provisions of IBC 2016

May 19, 2023 1002 Views 0 comment Print

Since, no discussion was done on the fees of RV, the IBBI DC found IP in contravention of section 208(2)(a) of the Code, regulation 7(2)(a), (h) and (i) of the IP Regulations, regulation 31A(1)(a) of Liquidation Regulations read with clauses 2, 3 and 14 of the Code of Conduct and Board Circular dated June 12, 2018.

When there is no mens rea, no demand will sustain on ground of limitation

May 19, 2023 1038 Views 0 comment Print

CESTAT held that, there should be mens rea to evade payment of service tax for demand of service tax and penalty beyond period of limitation.

Duty demand in terms of rule 8 of Valuation Rules unsustainable as higher duty already paid

May 19, 2023 477 Views 0 comment Print

CESTAT Kolkata held that demand of excise duty in terms of rule 8 of the Valuation Rules not sustainable as correct higher duty already paid in terms of rule 4 of the Valuation Rules.

No Service Tax liability on liquidated damages

May 19, 2023 1179 Views 0 comment Print

Discover the CESTAT, Chennai ruling on Service Tax liability for liquidated damages. Explore the case of M/s. Bharat Heavy Electricals Limited and understand why recovery of damages is not considered a taxable service. Stay informed on GST implications with insights from circular no. 178/10/2022-GST.

TCS on foreign remittance through Liberalised Remittance Scheme – FAQs

May 19, 2023 26973 Views 0 comment Print

Frequently Asked Questions #FAQs w.r.t. Tax Collection at Source (TCS) on foreign remittance through the Liberalised Remittance Scheme.

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