"02 October 2023" Archive

Prospective Amendment – ITC On CSR Expenditure Under GST

Explore prospective amendment regarding Input Tax Credit (ITC) on CSR expenditure under GST. Learn about amendment, expert opinions, and unanswered questions....

ICAI President’s Message – October 2023

Read the President of ICAI's September 2023 update, covering G20 Summit, world records, global alliances, stakeholder engagement, and more....

GST Revenue Collection in September 2023: ₹1.62 Lakh Crore

Ministry of Finance reports a 10% YoY growth in GST revenue, collecting ₹1.62 lakh crore in September 2023, marking fourth time in FY 2023-24....

Over 30 Lakh Audit Reports Filed: Income Tax Department’s E-filing Success

More than 30.75 lakh audit reports, including 29.5 lakh Tax Audit Reports, were filed for AY 2023-24 by the September 30 deadline, ensuring timely compliance....

Investing in Nifty 50: A Guide to Index Funds and ETFs

Let's explore how you can invest in Nifty 50. Investors have two primary options: Nifty Index Funds and Nifty Exchange Traded Funds (ETFs). Both offer distinct advantages, catering to different investment preferences and objectives....

Calcutta HC Directs Consideration of Representation for Pre-GST and Post-GST Govt. Contract Tax Liability

Bikramjit Paul. Vs State of West Bengal & Ors. (Calcutta High Court)

Calcutta High Court's decision on GST tax liability for government contracts, both pre-GST and post-GST. Learn about relief and representation. ...

Calcutta HC’s interim Ruling on GST Tax Liability for Government Contracts

Hriday Kumar Das Vs State of West Bengal & Ors. (Calcutta High Court)

Explore Calcutta High Court's interim ruling addressing GST tax liability for government contracts and its impact on ongoing projects. Learn more...

CESTAT Directs Swift Resolution for Live Consignment Pending Without Justifiable Reasons

Commr. of Customs (Preventive) Vs IB Turbo Pvt Ltd (CESTAT Kolkata)

CESTAT Kolkata directs re-adjudication of a live consignment pending without justiciable reasons. Full text of the CESTAT order regarding M/s IB Turbo Pvt. Ltd....

Classification of Nickel Hydroxide Compound: CAAR Mumbai Ruling

In re Soft India Private Limited (CAAR Mumbai)

Classification ruling for Nickel Hydroxide Compound containing 92% to 100% Nickel Hydroxide, Cobalt Hydroxide, and Sodium Sulphate by CAAR Mumbai...

Recipient not eligible GST ITC on transfer of rights of leasehold land

The AAR, Gujarat, in the case of M/s Bayer Vapi Private Limited [Ruling No. GUJ/GAAR/R/2023/29 dated August 24, 2023] ruled that the transferee acquiring the rights of the lease for construction of the immovable property is not entitled to take Input Tax Credit (ITC) of the Goods and Service Tax (GST) paid by them on […]...

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