"10 November 2023" Archive

HC Nullifies ITAT Order on Information Sharing with SEBI, ED, MCA & ROC

Naresh Manakchand Jain Vs Registrar, Income-tax Appellate Tribunal (Bombay High Court)

Bombay High Court nullifies ITAT order, instructing AO to share information. Learn about the case, implications, and the remand for fresh consideration. Full analysis provided....

Revised Guidelines for Withholding Refunds under Section 245(2) – Income-tax Act 1961

Instruction No. 02/2023 10/11/2023

Stay updated on the latest Instruction No. 02/2023 from the Ministry of Finance. Learn about revised timelines, monetary limits, and workflow for withholding refunds under Section 245(2) of the Income-tax Act, 1961...

Bombay HC: Reassessment Barred by ‘Change of Opinion’

Hasmukh Estates Pvt. Ltd. Vs ACIT (Bombay High Court)

Explore Bombay High Court's ruling on Hasmukh Estates Pvt. Ltd. vs. ACIT, challenging reassessment based on internal audit objections and a 'change of opinion....

GST Council Newsletter for the month of October 2023

The 52nd GST Council meeting was characterized by significant changes being made to the tax landscape in India. The Council, upholding the spirit of cooperative federalism, decided to cede the right to tax ENA for use in alcohol for human consumption to the States. Moreover, the GST on molasses has been reduced from 28% to […]...

Posted Under: Income Tax |

Gross Direct Tax Collections FY 2023-24 Surge by 17.59% YoY

Explore the latest data on Gross Direct Tax collections for FY 2023-24, witnessing a remarkable 17.59% YoY growth, netting Rs. 12.37 lakh crore. Detailed analysis of Corporate and Personal Income Tax included...

Posted Under: Income Tax |

GST Amnesty Advisory: Appeal Filing Deadline for Orders up to 31.03.2023

Press Release No. 612 10/11/2023

This article delves into the provisions and procedures associated with GST amnesty granted to those who missed appeal filing deadline for orders passed on or before March 31, 2023....

Pilot Launch: Upgraded eBRC System for Exporters

Trade Notice No. 33/2023-24 10/11/2023

Government of India's Directorate General of Foreign Trade announces the pilot launch of the enhanced eBRC system for self-certification by exporters. Key guidelines and dates....

Guidelines on import of silver by Qualified Jewellers as notified by IFSCA

RBI/2023-2024/83 A.P. (DIR Series) Circular No. 07 10/11/2023

Explore RBI's latest circular (RBI/2023-2024/83) on import guidelines for silver by Qualified Jewellers as notified by IFSCA. Key details for AD Category-I banks and jewellers....

RBI Assigns Lead Banks for 19 New Districts in Rajasthan

RBI/2023-24/82 FIDD.CO.LBS.BC. No.11/02.08.001/2023-24 10/11/2023

RBI's latest notification on formation of 19 new districts in Rajasthan. Learn about assigned Lead Banks and District Working Codes for effective financial management....

Request for extension of due date for filling GSTR-3B of October 2023

Introduction: On the 10th of November 2023, the All Gujarat Federation of Tax Consultants (AGFTC) and the Income Tax Bar Association (ITBA) jointly addressed a letter to the Honorable Finance Minister, Smt. Nirmala Sitharaman, urging her consideration for an extension of the GSTR-3B filing deadline for the month of October 2023. The reque...

Posted Under: Income Tax | ,

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December 2023