CESTAT Bangalore held that imposition of penalty unsustainable as service tax is demanded due to mis-interpretation of service being classified as joint venture agreement and not a franchisee service.
Read the clarifications regarding the taxability of income earned by non-resident investors from off-shore investments in investment funds routed through an Alternative Investment Fund (AIF). Learn about the amendments and regulations applicable to Category I or Category II AIFs in India.
Authorized share capital of the company is the maximum permissible limit set by the shareholders of the Company that allows the Company/Board to issue shares of the Company.
DPIIT has issued two Quality Control Orders (QCOs) for Potable Water Bottles and Flame-Producing Lighters. These QCOs aim to enhance public health and safety by strengthening the quality ecosystem in India. Learn more about the implications and requirements of these QCOs.
Explore the 15 major decisions taken in the 50th GST Council meeting held on 11th July 2023, including GST rate reductions, exemptions for cancer-related drugs, and measures for trade facilitation. Stay informed about changes in GST tax rates, compliance procedures, and initiatives to streamline processes. The decisions made by the GST Council will become part of the GST law through future notifications issued by CBIC. For detailed insights and professional advice, consult IGTM Tax Advisory.
Supreme Court clarifies on education cess refund in CGST vs. Saraswati Agro Chemicals case, emphasizing the importance of legal finality and preventing endless litigation.
In re Pooja Construction Co (GST AAR Gujarat): GAAR Gujarat does not have the jurisdiction to rule on the question on account of the fact that as per the applicant the place of supply is Madhya Pradesh.
AAR held that, services provided by the assessee to entities located outside India is covered under section 13(2) of IGST Act, 2017. Accordingly, such services would qualify to be treated as export of service.
In today’s fast-paced and competitive business world, staying ahead of the curve is essential for success. As businesses strive to make informed decisions, having access to reliable and comprehensive data becomes a game-changer. This is where CMD Register, an Indian business intelligence and data analytics organization, comes into play.
Understand the critical role of the initial enquiry under Section 148A(a) for taxpayer protection in income tax assessments. Explore the significance of the initial enquiry in gathering relevant information, ensuring a reasonable basis, and providing the assessee an opportunity to explain. Learn from recent court decisions, such as CIT v. Ravindra Kumar Jain and CIT v. Pradeep Kumar Gupta, emphasizing the importance of credible and reliable evidence before issuing orders under Section 148A(d). Stay informed to protect your rights and navigate the assessment reopening process effectively.
