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Archive: December, 2023

Posts in December, 2023

ITC cannot be blocked when no order is issued u/s 74 of CGST Act or Rule 86A of CGST Rules

December 10, 2023 4113 Views 0 comment Print

Telangana High Court’s landmark decision in M/s. A.S.E. India v. Union of India, highlighting invalidity of blocking ITC without a CGST Act Section 74 order or Rule 86A compliance.

Impact of Cyclone Michaung: IRDAI Guidelines for Insurance Claims

December 9, 2023 975 Views 0 comment Print

Discover IRDAI’s circular on insurance claims after Cyclone Michaung and floods in December 2023. Guidelines for insurers to expedite claims and assist affected policyholders

NCLT Not Obligated to Monitor Every Settlement Payment as a sentinel/guardian

December 9, 2023 1440 Views 0 comment Print

NCLT Delhi’s landmark judgment in Agson Global vs. Prodalim B.V clarifies its role in settlement payments. Breach doesn’t trigger CIRP. Full order text included.

Finance Ministry Imposes 18% GST on Corporate Guarantees: Key Changes

December 9, 2023 4728 Views 0 comment Print

Finance Ministry’s latest move imposes 18% GST on corporate guarantees for bank loans by parent companies to subsidiaries. Learn about key changes, including the taxable value calculation and exceptions for Director-issued guarantees. Stay informed on GST Council recommendations and the impact on businesses

SEBI Fast Track Public Issuance of debt securities : NCS & LODR Regulations Review

December 9, 2023 1827 Views 0 comment Print

SEBI’s consultation paper on NCS and LODR Regulations for fast track public issuance of debt securities. Share your insights by December 30, 2023.

FSSAI: Reactivation of auto-rejected applications

December 9, 2023 1722 Views 0 comment Print

Explore FSSAI’s latest order allowing food business operators to self-reactivate auto-rejected applications, streamlining approvals and enhancing regulatory efficiency.

ITAT Mumbai Allows Deduction for Interest Expenditure against rental income

December 9, 2023 1998 Views 0 comment Print

Explore the ITAT Mumbai order in Sujeev Sanjeev Kharwadkar Vs ACIT case. Learn how the ITAT allows deduction under section 24 for interest expenditure in Income Tax Act.

Admitted facts: No prejudice to appellant if SCN did not refer to a particular statutory provision

December 9, 2023 1641 Views 0 comment Print

Explore the Kerala High Court’s decision in the case of Global Plasto Wares vs. Assistant State Tax Officer. Analysis of penalties under Section 73(11) of CGST/SGST Act and implications for businesses.

HC refuses to exercise its writ jurisdiction as appellate authority seized of the matter

December 9, 2023 738 Views 0 comment Print

Kerala High Court refuses to exercise writ jurisdiction parallel to the appellate authority, directs the timely decision on appeal and stay application for Prathibha Traders.

Women can be Karta in Hindu Undivided Family: Delhi High Court

December 9, 2023 16264 Views 0 comment Print

Delhi High Court affirms women’s right to be Karta in Hindu Undivided Family (HUF). Analysis of landmark judgment, societal perceptions challenged. Read more.

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