"09 November 2023" Archive

Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023

G.S.R. 832(E) 09/11/2023

Explore Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 notified by Ministry of Corporate Affairs. Learn about definitions, duties, declarations, and compliance...

Deemed Exports under EOU: Refund Processes and Implications

Explore complexities of deemed exports under EOU in GST regime. Learn refund procedures, recent clarifications, and potential challenges for EOUs...

Posted Under: Corporate Law |

Rectification Timelines for GSTR-1 Errors: Section 37(3) & First Proviso Explained

Understand rectification timelines for GSTR-1 errors as per Sec 37 (3) & 1st Proviso of the GST law in India. Know when rectification is allowed, when it is necessary & limits. Importance of filing accurate GST returns before the due date....

Posted Under: Corporate Law |

Addressing Non-Compliance: Impact on Tax System Respect

Explore consequences of non-compliance with tax obligations, its impact on public trust, and importance of government pursuit. Gain insights into balancing enforcement and fairness for a robust tax system....

Posted Under: Corporate Law |

CESTAT explains difference between consignment & commission agent

Enbee Education Centre Pvt Limited Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad)

Explore the Enbee Education Centre case vs. Commissioner of Central Excise & ST. CESTAT Ahmedabad clarifies the distinction between 'consignment agent' and 'commission agent.' Full text of the judgment included....

Permanent Establishment in International Taxation

Explore the intricacies of Permanent Establishment in international taxation, from UN Model to domestic laws. Learn about key provisions, tests, and recent developments. Contact us for clarity on International Taxation/DTAA....

Posted Under: Corporate Law |

SSI Exemption Benefit Granted: Turnover Below 4 Lakhs in Relevant Financial Year

Sarvan Kumar S/o Inder Singh Vs CCE-Rohtak (CESTAT Chandigarh)

Demand of service tax for the period from 1st April 2003 to March 2005 was prima facie wrong because appellant had started rendering services to M/s IBP Co. Ltd. from 01.09.2005 as was clear from the agreement dated 01.09.2005 which had been accepted in the order-in-original....

Section 271(1)(c) Penalty deleted due to AO’s Failure to Specify Applicable limb

PCIT Vs Modi Rubber Ltd (Delhi High Court)

Penalty under section 271(1)(c) was not leviable as there was failure on the part of AO as to which limb of Section 271(1)(c) got attracted for imposition of penalty....

Classification of gold coins directed to be decided afresh

Khandwala Finstock Private Limited Vs Union of India & Ors. (Delhi High Court)

Delhi High Court directed to decide afresh whether imported article i.e. gold coins are classifiable under CTH 7114 1910 or 7118 9000 bearing in mind the findings on the scope of those two entries....

Reopening u/s. 148 beyond 4 years in absence of full & true disclosure of material facts unsustainable

Troikaa Pharmaceuticals Limited Vs ACIT (Gujarat High Court)

Gujarat High Court held that reopening of assessment under section 148 of the Income Tax Act beyond the period of four years in absence of full and true disclosure of material facts is bad in law....

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