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Archive: 30 August 2023

Posts in 30 August 2023

Non-Basmati White Rice (HS code 1006 30 90) Export to Bhutan, Mauritius, & Singapore

August 30, 2023 741 Views 0 comment Print

Details on permitted export volumes of non-basmati white rice to Bhutan, Mauritius, and Singapore as per DGFT Notification No. 30/2023

Solutions for ITC Mismatch in the GST Regime

August 30, 2023 10317 Views 4 comments Print

Exploring the challenges of ITC mismatches in GST, addressing their origins, and suggesting amendments for a more streamlined GST system.

Interpreting ‘May’: Mandatory Force & Purposive Construction

August 30, 2023 972 Views 0 comment Print

Delve into the legal nuances of interpreting ‘may’ in statutory provisions. Understand its mandatory or discretionary nature through purposive construction, ensuring justice and clarity in legal frameworks. Unravel the complexities with real-world examples and court decisions.

FAQ’s on Income Tax Form 27C

August 30, 2023 1611 Views 0 comment Print

On August 28, 2023, the Income Tax Department unveiled the most recent set of Frequently Asked Questions (FAQs) pertaining to Form 27C. As taxpayers grapple with their income tax obligations, these FAQs offer clarity and direction on how to approach Form 27C. Income Tax Department also informed that Functionality for Revision of Form 27C is now […]

Determination of Company Residential Status & POEM in India

August 30, 2023 1404 Views 0 comment Print

Dive deep into India’s criteria for determining company residency through Place of Effective Management (POEM) and its significance in business activities outside India.

Perceived Dependence on Supplier to Avail Input Tax Credit Benefit

August 30, 2023 1956 Views 0 comment Print

Understand the impact of Perceived Dependence on Supplier for Input Tax Credit (ITC) in GST. Explore Section 16(2)(c) of CGST Act, recent judgments like Aastha Enterprises, and learn precautionary measures to avoid ITC denial. Dive into ITC basics, Patna High Court’s decision, and contrasting views from other courts. Is ITC a vested right or a mere benefit? Get insights into the road ahead, challenging Section 16(2)(c), and precautionary measures for purchasing dealers. Stay informed to navigate the complexities of ITC and compliance in the evolving GST landscape.

Promoting Resilient Cities: SAS 1100 on Slum Area Development & Affordable Housing

August 30, 2023 696 Views 0 comment Print

Explore SAS 1100 by ICAI focusing on slum development, affordable housing, and building sustainable cities. Delve into the social audit processes, key metrics, and challenges.

Representation regarding disposal of appeals before CIT (Appeals)

August 30, 2023 6213 Views 0 comment Print

Introduction: A recent representation to the Hon’ble Finance Minister, Smt. Nirmala Sitharaman, has highlighted significant delays and challenges in the faceless appeal scheme. Drafted jointly by the Income Tax Bar Association (ITBA) and the All Gujarat Federation of Tax Consultants (AGFTC), this representation dives deep into the issues plaguing the system and offers practical solutions. […]

ITC eligible on input used for machinery foundation construction: AAR Rajasthan

August 30, 2023 1809 Views 0 comment Print

Rajasthan AAR rules on Input Tax Credit eligibility for GST paid on inward supply of structural support for machinery. Discover key takeaways and the impact on businesses.

Orissa HC: Deposit Full Tax in 15 Days Before Opting Writ Remedy for GSTAT Non-Constitution

August 30, 2023 747 Views 1 comment Print

Analysis of Orissa High Court’s directive regarding non-constitution of GSTAT and the tax demand timeframe in Krushna Mohan Dutta Vs Commissioner of CT & GST.

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August 2023