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Archive: 22 June 2023

Posts in 22 June 2023

ITAT directs AO to Verify & Grant Credit for Dividend Tax Payment

June 22, 2023 729 Views 0 comment Print

ITAT Delhi case where Catvision Ltd was wrongfully demanded Dividend Distribution Tax by the AO despite timely payments.

Calcutta HC dismisses Writ Petition due to unjustifiable delay in its submission

June 22, 2023 699 Views 0 comment Print

Calcutta High Court case between Saru Kankani and Union of India, focusing on the consequences of unjustified delays in filing legal actions.

Ambiguity in Second Appeal Jurisdiction: CESTAT Dismisses Precautionary Appeal

June 22, 2023 231 Views 0 comment Print

Unravel the complexity of the case between Amadeus Software Labs India Pvt Ltd and the Commissioner of Central Tax (CESTAT Bangalore), involving ambiguity over the jurisdiction for a second appeal in tax rebate matters.

Procedure for Reimbursement of SGST on Cinematographic Shows of Cinema Kanakamarga 

June 22, 2023 654 Views 0 comment Print

Learn about procedure for claiming reimbursement of State GST (SGST) on movie Kanakamarga in Karnataka. This circular provides detailed instructions and application formats for exhibitors to apply for reimbursement.

Difference in Non-Delivery Derivative Transactions to be taken for Turnover determination for Tax Audit

June 22, 2023 759 Views 0 comment Print

ITAT Delhi nullifies Section 271B penalty on Parag Jain, asserting that only difference in non-delivery derivative transactions should be taken into account when determining turnover for a tax audit.

Service Tax not levied on reimbursable expenses incurred by Assessee

June 22, 2023 1230 Views 0 comment Print

CESTAT overturned the order that had previously confirmed the demand on expenses such as deconsolidation charges, transportation charges, and DO charges. These expenses were initially collected by the assessee from their clients and then paid to the service provider.

Promoting Digital Lending: RBI’s Default Loss Guarantee Guidelines

June 22, 2023 1080 Views 0 comment Print

The Reserve Bank of India recently came up with guidelines on Default Loss Guarantee (DLG) in digital lending that is effective from 8th June 2023.[i] Before delving into DLG, it is important to define the term digital lending. As per the Reserve Bank of India, digital lending is defined as a remote and automated lending […]

Key Amendments in SEBI (LODR) Regulations 2015 – June 2023

June 22, 2023 13338 Views 0 comment Print

Explore the latest SEBI (LODR) Regulations 2015 amendments effective June 2023. Key changes include timelines for filling key positions, relaxation of Corporate Governance Requirements for High-Value Debt entities, and the introduction of a shareholder-approved permanent directorship. Uncover disclosure requirements for agreements, material events, and cyber incidents, with a focus on quantitative criteria.

Madras HC Allows Delayed Appeal under TN Value Added Tax

June 22, 2023 351 Views 0 comment Print

Madras High Court, in case of Aqua Excel Vs Assistant Commissioner, allows petitioner to approach appellate authority with a delayed appeal under Tamil Nadu Value Added Tax.

Kerala SGST Circular: Maintenance of Call Book for Adjudication Process

June 22, 2023 1056 Views 0 comment Print

Read Circular No. 13/2023 issued by the Commissioner of State Tax, Kerala, providing instructions for the maintenance of a Call Book in the Kerala State Goods & Services Tax Department. Learn about the purpose of the Call Book, cases to be included, transfer procedures, periodic review, and the attached format.

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