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Archive: 19 October 2023

Posts in 19 October 2023

Recourse to section 166A of the Code without following procedure prescribed u/s 155(2) is unsustainable

October 19, 2023 2091 Views 0 comment Print

Bombay High Court held that taking recourse to the provisions of Section 166A of the Code of Criminal Procedure, 1973 for issuance of the Letter of Rogatory by the Magistrate without following procedure prescribed under section 155(2) cannot be sustained and deserved to be quashed.

Limitation Period Doesn’t Apply when Appellant discloses All in ST-3 Return

October 19, 2023 681 Views 0 comment Print

Discover the key details of Rama Colour Prints vs. Commissioner of Service Tax case, highlighting disclosure in ST-3 returns and limitation issues.

UAE VAT-201 Return Vs India GSTR-3B Return

October 19, 2023 1620 Views 0 comment Print

Explore the similarities and differences between the UAE VAT-201 Return and India GSTR-3B Return, two essential tax filing processes for VAT and GST.

Harnessing the Power of Artificial Intelligence in Transfer Pricing

October 19, 2023 2748 Views 0 comment Print

Discover how Artificial Intelligence is reshaping transfer pricing strategies for multinational enterprises, offering predictive insights, automation, and more.

Extended period of limitation cannot be invoked as issue involved interpretation of law

October 19, 2023 4287 Views 0 comment Print

CESTAT Chennai held that invocation of extended period of limitation unjustified as issue was mired in litigation and interpretation of law. Further, appellant is public sector undertaking and hence there is no scope of suppression with an intention to evade tax.

New Advisories From GSTN on Various Compliance Issues

October 19, 2023 20478 Views 0 comment Print

Explore GSTN’s latest advisories on geocoding, ITC mismatches, e-invoice, e-commerce, and online money gaming. Stay updated for maximum benefits!

CCDs allotment – Not Filing of PAS-3 & PAS-4: MCA Imposes 2.08 Crore Penalty

October 19, 2023 17064 Views 0 comment Print

CCDs allotment- Not Filing of PAS-3 & PAS-4 & Non-maintenance of Separate Bank account- MCA Imposes Penalty of Rs. 2,07,56,000/-. In a recent development, the Ministry of Corporate Affairs (MCA), under the Government of India, has imposed a penalty on M/s. Viraj Profiles Private Limited for violations of Section 42 of the Companies Act, 2013. […]

Notification No. 50/2017-cus Benefit cannot be denied for Goods Used in Loan Licensee’s Factory

October 19, 2023 1290 Views 0 comment Print

CESTAT Ahmedabad grants relief to Intas Pharmaceuticals, ruling that Customs Duty benefit cannot be denied to a loan licensee importer. Details of the case here.

Revisionary Jurisdiction Can’t Exceed Scope of “Limited Scrutiny”

October 19, 2023 945 Views 0 comment Print

ITAT Pune rules that assessment under limited scrutiny cannot exceed its prescribed scope, preventing the use of revisionary jurisdiction under section 263 of the Income Tax Act.

Rajasthan HC Calls for Mechanism aligning Supplier’s Credit Note with ITC Reversal

October 19, 2023 3162 Views 0 comment Print

The Rajasthan High Court addresses the absence of a mechanism for matching supplier credit notes with ITC reversal, seeking a solution from authorities.

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