Learn to manage GST invoices easily with the new IMS. Join our webinar on 24th Nov to improve ITC claims and error reduction. Register now!
Government of India issues guidelines for compulsory selection of returns for Complete Scrutiny during FY 2023-24. Find the procedure and clarification here.
Understand whether stamp duty is applicable on off-market transfers of securities without consideration, such as gifts or legacy transfers, as per the Indian Stamp Act amendments.
Assessing Officer issued DIN through a separate communication dated 03.02.2022, which demonstrates that the DIN was not issued within a period of 15 working days of the issuance of the assessment order.
Stay informed about the crucial GST notifications (Central Tax) issued on 31st July 2023, covering amendments, special procedures, exemptions, and more. Summarized provisions include commencement dates, manual appeal procedures, special processes for manufacturers, and updates on GSTR-9 filing exemptions. Understand changes in Section 158A, conditions for unregistered persons in E-Commerce, and the appointment of a common adjudicating authority. Keep abreast of the latest updates for seamless compliance.
HC held that loan facility availed by a credit card holder, where being a credit card holder is a condition for eligibility, is not considered a credit card service. Instead, it is treated as a standard loan which is exempt under GST. Directed the bank to refund the GST collected from the assessee.
According to the Income Tax Act, there is no requirement for active agricultural activity to be present at the time of selling agricultural land. The key condition is that the land must qualify as agricultural land. The Honourable Third Member supported this view and dismissed the Revenue’s appeal, concluding that the consideration received from the sale of agricultural land was not subject to capital gains tax.
Learn about the penalty imposed by MCA for violating the main object clause of MOA. Detailed analysis of the case and implications. Read more.
NCLT Mumbai held that PF/Gratuity dues are third-party assets belonging to workers and should be prioritized in liquidation. The EPFO claims will not fall under the waterfall mechanism of the IBC.
ITAT Kolkata held that as provisions of section 43CA of the Income Tax Act are introduced with effect from 1st April 2014, the said provisions are not applicable to ‘agreement to sell’ entered prior to 1st April 2014.
ITAT Delhi held that income classified as ‘business income’ but not considered for the purpose of working of deduction u/s 80HHC merely on the nomenclature that income are not derived from export is unjustifiable as it is not justified that income has no nexus with earning of export.
