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Archive: 17 October 2023

Posts in 17 October 2023

Service Tax not leviable on services provided to Governmental Authority

October 17, 2023 1731 Views 0 comment Print

Learn about the recent Supreme Court verdict that ruled Service Tax is not applicable to services provided to a Governmental Authority.

Mismatch Between GSTR 3B and GSTR 2A – An Analysis

October 17, 2023 33858 Views 0 comment Print

Dive into the complexities of GSTR 3B and GSTR 2A discrepancies! Explore the legal nuances and principles behind Input Tax Credit (ITC) refutation. Learn about challenges like non-uploading, delays, and erroneous filings, and how delays in claiming ITC and IGST errors impact taxpayers. Understand the judicial perspective on genuine errors and the importance of balancing tax compliance and protecting taxpayer rights. Stay informed to navigate the complexities of GST seamlessly.

Secret Phone Call Recording Violates Privacy: Chhattisgarh HC

October 17, 2023 1287 Views 0 comment Print

Chhattisgarh High Court deems secret phone call recordings without consent a violation of Article 21’s right to privacy, setting a vital precedent.

No TCS on transaction of purchase of coal which is to be used in generation of power

October 17, 2023 2148 Views 0 comment Print

Jharkhand High Court held that TCS is not to be collected in the transaction of purchase of coal which is used in generation of power. Accordingly, illegal sum collected as TCS is ordered to be refunded back with interest.

Income Tax Raids in Karnataka, Andhra Pradesh and Telangana

October 17, 2023 1005 Views 0 comment Print

Income Tax Department’s recent searches reveal tax evasion schemes by contractors, leading to unaccounted cash and asset creation. Details of operation.

Remand order passed in money laundering case registered against Vivo sustained

October 17, 2023 930 Views 0 comment Print

Delhi High Court upheld the remand order passed by Sessions Court, in the money laundering case registered against Vivo, concluding that Section 19 of PMLA was duly complied with and thereafter the accused persons were remanded to the custody of Directorate of Enforcement.

GST Circular Doesn’t Override Statutes: HC Quashes Rs. 235 Crore Demand on Vivo Mobile

October 17, 2023 7959 Views 0 comment Print

The case centered on a circular that imposed limitations on the cumulative adjustment of ITC, contrary to the statutory provisions. The Court held that circulars cannot override statutory law.

New Updates: GST Unregistered Sellers via E-commerce Operators

October 17, 2023 5385 Views 1 comment Print

Explore the latest GST updates impacting unregistered sellers on e-commerce platforms in India. Uncover the simplified processes, compliance measures, and opportunities for businesses. Stay informed and adapt to the evolving landscape.

Navigating Tax Game: Financial Strategies for Cricket World Cup Players

October 17, 2023 1176 Views 0 comment Print

Discover how cricket players handle income tax complexities during World Cup. Learn about tax implications for earnings, prizes, and endorsements.

Impact of Recent Regulatory Changes on Bank Fixed Income Portfolios

October 17, 2023 849 Views 0 comment Print

Explore the effects of recent regulatory changes on banks’ fixed income portfolios, including shifts in classification, valuation, and accounting methods. Understand how these changes may influence the bond market and bank operations.

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