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Archive: 31 October 2023

Posts in 31 October 2023

Saga of GST on Corporate Guarantee: Unveiling New Challenges

October 31, 2023 1827 Views 0 comment Print

Explore complex landscape of GST on Corporate Guarantee post latest GST council meeting and clarifications. What’s changed and what challenges lie ahead?

Crucial Compliance Alert: MCA’s Latest Amendments for Companies & LLPs

October 31, 2023 2637 Views 0 comment Print

Stay compliant with MCA’s recent amendments. Explore rules on beneficial interest, register of partners, responsible person designation, and dematerialization for companies and LLPs.

Non-Filing of DIR-3 KYC: MCA Imposes Penalty

October 31, 2023 13863 Views 0 comment Print

Discover how MCA imposed a penalty on Hendrik Technology Private Limited for failing to file DIR-3 KYC, a violation of Companies Act, 2013, Section 153, and Rule 12(A).

Imposition of penalty u/s 78 without intention to evade payment of tax untenable

October 31, 2023 1389 Views 0 comment Print

CESTAT Delhi held that imposition of penalty under section 78 of the Finance Act without elements of fraud or collusion or willful mis-statement or suppression of facts or violation of Act or Rules made thereunder with an intent to evade payment of tax is untenable in law.

Updated Return of Income: Rules, Eligibility and Filing Process

October 31, 2023 8034 Views 0 comment Print

Learn about updated income tax returns, including eligibility, rules, and the filing process. Discover when you can file, which forms to use, and important deadlines.

Duty demand invoking rule 8 of CVR, 2000 without any reasonable justification unsustainable

October 31, 2023 159 Views 0 comment Print

CESTAT Chandigarh held that duty demand valuing goods cleared to sister concern in term of rule 8 of the Central Excise (Valuation) Rules, 2000 (CVR, 2000) without any reasonable justification and without providing report of Deputy Director (Cost) is unsustainable in law.

Revisionary order passed u/s 263 without granting an opportunity of being heard is unsustainable

October 31, 2023 765 Views 0 comment Print

ITAT Surat held that revisionary order passed under section 263 of the Income Tax Act without considering reply of the assessee and without granting an opportunity of being heard is unsustainable in law as against the principles of natural justice.

Distinction by resolution professional between homebuyers seeking remedies is artificial and hence unsustainable

October 31, 2023 450 Views 0 comment Print

Supreme Court held that distinction made by resolution professional with regard to class of home buyers who seeks remedies under RERA is artificial and amount to ‘hyper-classification’ and hence falls afoul of Article 14. Accordingly, such classification is unsustainable.

GST: Penalty leviable when tax collected is not deposited within 30 days

October 31, 2023 1497 Views 0 comment Print

Kerala High Court held that penalty leviable when the person chargeable to tax fails to deposit the tax collected by him within a period of 30 days from the due date of payment of such tax.

India Post Payments Bank (IPPB): Services, History and Distinctions

October 31, 2023 5778 Views 0 comment Print

Discover India Post Payments Bank (IPPB): history, services, differences from POSB, and who can benefit from this revolutionary banking solution.

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