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Archive: 21 July 2023

Posts in 21 July 2023

Get What You Need on Easy EMIs, Apply for Bajaj Finserv EMI Network Card Today!

July 21, 2023 717 Views 1 comment Print

Bajaj Finserv EMI Network Card is a simple financing solution that lets you make online and offline purchases on easy, affordable No Cost EMIs. So, rather than taking a loan or breaking into investments to make the payment upfront, you can convert your spends into easy EMIs.

Request to Abolish GST Reverse Charge Mechanism

July 21, 2023 6789 Views 1 comment Print

Advocates’ Tax Bar Association urges the Finance Minister to abolish Reverse Charge Mechanism for registered dealers, citing burdensome compliance, corruption, and hindrance to SMEs.

Illegally Imported Goods without Valid Liable for Confiscation u/s 111 of Customs Act

July 21, 2023 729 Views 0 comment Print

Explore the recent case verdict by CESTAT Bangalore regarding K Kiran Tyres Vs Commissioner of Customs, focusing on the confiscation of illegally imported goods without a valid license.

Book adjustment a valid method of consideration under GST

July 21, 2023 3156 Views 0 comment Print

AAR ruled that ITC is admissible for goods purchased from outsourced vendors when consideration is settled through book adjustment, subject to conditions outlined in Sections 16, 17 and 18 of CGST Act and their corresponding rules.

SAD Refund Granted: Accounting procedures usually include past periods: CESTAT

July 21, 2023 1017 Views 0 comment Print

Insightful analysis of the recent case between the Commissioner of Customs and Doosan Infracore India Pvt. Ltd., where CESTAT Chennai dismissed the appeal of the revenue department on the sanction of the SAD refund claim.

ITAT directs re-adjudication in PF/ESI deduction Claim Case of Tripoto

July 21, 2023 1146 Views 0 comment Print

Examination of the case between Tripoto Travel Private Limited and the ACIT, where ITAT directed re-adjudication on the income tax deduction claim for late deposit of employees’ contributions to PF/ESI.

CIN in Relation to a Company: Understanding its Significance & How to Find It?

July 21, 2023 4284 Views 0 comment Print

CIN in relation to a Company stands for Company Identification Number. CIN is a 21-digit alphanumeric code assigned to a Company by Registrar Of Companies (ROC) to companies registered in India under Companies Act, 2013.

Taxation and Treatment of Stock Market Investments

July 21, 2023 4971 Views 1 comment Print

“Learn about stock market transactions in India, types of trades, taxation rules, and turnover calculations. Understand tax audit requirements for investors and traders

ITAT deletes Disallowance for Guarantee Commission to Associate Enterprise

July 21, 2023 759 Views 0 comment Print

In Lease Plan India P Ltd vs. ITO, the ITAT Delhi deletes disallowance of guarantee commission deduction claimed on payment to Associate Enterprise. Understand the impact of this case on associated tax implications.

CESTAT allows Refund Claim Appeal for Custom Duty amid Covid-19 Delays

July 21, 2023 888 Views 0 comment Print

Explore the CESTAT Hyderabad ruling favoring Jindal Stainless Limited in a pivotal case against the Commissioner of Customs. The case discusses the rejection of a refund claim due to Covid-19-related filing delays.

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