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Archive: 02 August 2023

Posts in 02 August 2023

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 1593 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

Income Tax Department Young Professional Scheme

August 2, 2023 9528 Views 0 comment Print

Learn about the Young Professional Scheme introduced by the Income Tax Department to enhance departmental representation in ITAT for tax litigations. Find details and deployment regions.

Guide to E-Invoice Services Offered by New IRPs Under GST

August 2, 2023 1881 Views 0 comment Print

Introduction: The Indian Goods and Services Tax (GST) system has introduced e-Invoicing, a significant step towards enhancing ease of doing business. This article provides an overview of the services offered by the four new Invoice Registration Portals (IRPs): Cygnet-IRP, Clear-IRP, EY-IRP, and IRIS-IRP. Details: All four IRPs provide several services to facilitate e-Invoicing, including e-Invoicing […]

MCA Amends Central Govt. Application Form No. RD-1

August 2, 2023 1971 Views 0 comment Print

Ministry of Corporate Affairs in India has recently issued a significant update to the Companies (Incorporation) Rules, 2023. These rules may be called the Companies (Incorporation) Second Amendment Rules, 2023, indicating a second round of changes this year. Furthermore, the update also includes a critical change in the form for filing application to the Central Government […]

Advisory Services Receipts Not Taxed as Technical Knowledge under India-UK DTAA: ITAT

August 2, 2023 2589 Views 0 comment Print

In present facts of the case, it was held that the services rendered were in the nature of advisory services as per the terms of the agreement, therefore these services cannot be the part of Fees for Technical Services (FTS) under Article 13 of India – UK DTAA.

No interest or penalty on late payment of surcharge, CVD, SAD & IGST: Bombay HC

August 2, 2023 4482 Views 0 comment Print

Breaking News: Bombay HC rules in favor of taxpayers! No interest or penalty on late surcharge, CVD, SAD & IGST payments. Dive into the key observations, including the need for clear legal authority. Valuable insights for ongoing litigation and potential refund applications.

Sale of the Shares by the Promoters of a Company: SEBI Disclosures

August 2, 2023 15654 Views 0 comment Print

Unlock the complexities of SEBI disclosures for promoters selling company shares. Dive into the regulations, including SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, governing promoters’ share transactions. Discover key aspects, such as continual disclosures under Regulation 7(2)(a), company notifications under Regulation 7(2)(b), and substantial acquisition disclosures under Regulation 29.

GST Refund application cannot be rejected without giving proper reason

August 2, 2023 3807 Views 0 comment Print

HC held that refund application cannot be rejected without giving a proper reason and stated that Revenue department may issue  a fresh notice, clearly setting out reasons for proposing to reject refund claim and assessee  file a response in Form RFD-09, within prescribed period.

SEBI Circular on Portfolio Managers’ Firm-level Performance Data Audit

August 2, 2023 1218 Views 0 comment Print

SEBI issues Circular No. SEBI/HO/IMD/IMD-PoD-1/P/CIR/2023/133 on the audit of firm-level performance data for Portfolio Managers. Read about the standard Terms of Reference and submission requirements

Expansion of Auto LEO Facility in ECCS – Circular 19/2023-Customs

August 2, 2023 1380 Views 0 comment Print

CBIC announces expansion of automatic Let Export Order (LEO) facility in ECCS through Circular 19/2023-Customs. Know new provisions and impact on ease of doing business

External Commercial Borrowings from countries sharing land border with countries

August 2, 2023 2487 Views 0 comment Print

Explore the impact of FDI restrictions on countries sharing a land border with India and the role of External Commercial Borrowings (ECB) in addressing funding needs. Understand the regulatory landscape, including the amendment to FDI policy and the scrutiny on equity participation. Delve into the eligibility criteria for ECB, recognised lenders, and the present situation for investments from land border-sharing countries. Navigate the complexities of FDI and ECB to make informed financial decisions.

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