Madras High Court held that non-submission of certified copy of order within a period of 7 days as stipulated under Rule 108(3) of the Tamil Nadu Goods and Services Tax Rules, 2017 (TNGST Act) is only a technical defect.
Bombay High Court held that identify the nature of the goods as to whether they are finished or semi finished based on the entries in the RG-1 register needs reconsideration by the Appellate Tribunal.
ITAT Delhi held that addition based on some dummy name without incriminating material reflecting name of the assessee is unjustified.
CESTAT Delhi held that Employees Provident Fund Organization (EPFO) is not liable to pay service tax on their statutory activities performed in terms of ‘The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952’ (EPM & MP Act, 1952).
CBDT issued Notification No. 32/2023- Income Tax on May 29, 2023. This notification introduces the Income-tax (Sixth Amendment) Rules, 2023, which further amend the Income-tax Rules, 1962. The key changes made by these rules are as follows: Rule 45: The words “Commissioner (Appeals)” in the marginal heading and sub-rule (1) are replaced with “Joint Commissioner […]
Chennai ITAT dismisses Revenue’s appeal against Kovai Medical Centre and Hospital Limited. Consultant doctors’ payments subjected to Section 194J, not 192, due to lack of employer-employee relationship.
In general, benchmarking refers to comparing business processes and performance metrics with industry best practices, which is also the case when it comes to transfer pricing.
Clause 40 of the tax audit report requires the disclosure of important financial information regarding turnover, gross profit, net profit, stock-in-trade, and material consumption/finished goods production for the previous year and the preceding previous year.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued an order regarding the display of QR codes in promotions and advertisements related to real estate projects registered with MahaRERA. The order states that promoters are required to prominently display a QR code on all project promotions or advertisements published after August 1, 2023. The QR […]
ITC (HS) 2022, (Schedule-I) Import Policy is amended in sync with the Finance Act, 2023 and Foreign Trade Policy, 2023. This shall come into force with immediate effect.
