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Archive: March, 2024

Posts in March, 2024

Payments to Micro, Small & Medium Enterprises: Section 43B(h) impact & FAQs

March 15, 2024 9558 Views 0 comment Print

Explore impact of Section 43B(h) on Micro, Small, and Medium Enterprises payments under Finance Act 2023. Get insights, guidelines, and FAQs for compliance.

ITC cannot be denied in case of bonafide errors in filing GST returns where no loss of revenue occurs

March 15, 2024 8791 Views 0 comment Print

Learn how Bombay High Court ruling in NRB Bearings Ltd. v. Commissioner of State Tax safeguards businesses’ rights to rectify GST returns for bonafide errors without revenue loss

GST Registration not to be cancelled based on vague SCN issued by Revenue Department

March 15, 2024 924 Views 0 comment Print

Discover how Delhi High Court overturned a GST registration cancellation, citing lack of specifics in the show cause notice. Learn the implications for businesses.

Roasted Areca Nuts falls under Custom Tariff Heading 20081920: CAAR Mumbai

March 15, 2024 2643 Views 0 comment Print

In re NBG International Private Limited (CAAR Mumbai) M/S. NBG International Pvt Ltd (having IEC No. AAICN7426L and hereinafter referred to as ‘the applicant’, in short) filed three applications (CAAR 1) for advance ruling before the Customs Authority for Advance Rulings, Mumbai (CAAR in short). The said applications were received in the secretariat of the […]

Key Year end GST Activities

March 15, 2024 15150 Views 0 comment Print

Ensure a smooth transition to the new financial year by completing crucial GST tasks. Learn about reconciliations, ITC, RCM, refunds, and more in this detailed guide.

ITAT Orders Re-adjudication on Section 80P(2)(e) for Agricultural Loan Deductions

March 15, 2024 750 Views 0 comment Print

Read about the ITAT Bangalore’s order directing re-adjudication on the deduction under Section 80P(2)(e) for agricultural loans provided by Savanoor Primary Agricultural Co-operative Society Ltd.

Maharashtra State Tax on Professions, Trades, Callings and Employments (Amendment) Rules, 2024

March 15, 2024 2430 Views 0 comment Print

Get the latest update on the Maharashtra State Tax Amendment Rules 2024 issued by the Finance Department. Learn about the changes made to the Maharashtra State Tax on Professions, Trades, Callings, and Employments Act, 1975.

Lack of Legal Understanding & Consultant’s Technological Limitations: ITAT denied Condonation of delay

March 15, 2024 801 Views 0 comment Print

Read about the ITAT Mumbai ruling in Inderjit Singh Manchanda vs. CIT case, where the application for condonation of delay regarding penalty proceedings appeal was dismissed.

Personal hearing is mandatory before issuing Section 148A(d) orders: Kerala HC

March 15, 2024 2109 Views 0 comment Print

Kerala High Court affirms that personal hearing is mandatory before issuing orders under Section 148A(d) of the Income Tax Act.

LTCG Deemed Genuine: AO Fails to Prove Bogus Share Sale, Addition Deleted

March 15, 2024 1485 Views 0 comment Print

Read about the ITAT Ahmedabad ruling in Bharatkumar Gangaram Patel vs. ITO case, where the addition for unexplained LTCG on shares was deleted due to failure to establish bogus sale.

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