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Archive: August, 2024

Posts in August, 2024

India Permits Export of Non-Basmati White Rice to Malaysia through NCEL

August 19, 2024 507 Views 0 comment Print

India allows the export of 2,00,000 MTs of Non-Basmati White Rice to Malaysia through National Cooperative Exports Limited under new DGFT notification.

कैश लेन-देन पर होगी आयकर विभाग की नजर – बैंकिंग चैनल से ही बड़े खर्च करें

August 19, 2024 2877 Views 0 comment Print

आयकर विभाग ने कैश लेन-देन पर कड़ी नजर रखने का निर्णय लिया है, और अपने केंद्रीय एक्शन प्लान 2024-25 में इसे प्रमुखता दी है। पिछले वर्ष 2023-24 में, विभाग ने 1,100 छापों में 2,500 करोड़ रुपए की संपत्ति जब्त की, जिसमें 1,700 करोड़ रुपए कैश था। इस साल, आयकर विभाग ने 24.50 करोड़ रुपए की […]

SEBI’s Migration Process for Venture Capital Funds to AIF Regulations

August 19, 2024 1689 Views 0 comment Print

SEBI issues guidelines for Venture Capital Funds to migrate to Alternative Investment Fund Regulations, detailing conditions, procedures, and timelines.

Reverse Charge Mechanism Under GST – Brief View

August 19, 2024 11685 Views 1 comment Print

Reverse Charge Mechanism (RCM) in GST is a system where the recipient of goods or services is liable to pay the tax instead of the supplier. A supplier cannot take the GST paid under the RCM as ITC. The recipient can avail of ITC on GST amount paid under RCM on receipt of goods or services, […]

India-Mauritius: Implications of Principal Purpose Test

August 19, 2024 1593 Views 0 comment Print

India and Mauritius have amended the DTAA, adding a principal purpose test (PPT) rule to close tax loopholes and align with global norms. Explore its impact on FPI and FDI.

Tax Implications of Raksha Bandhan Gifts: What You Need to Know

August 19, 2024 3528 Views 0 comment Print

Understand the tax implications of Raksha Bandhan gifts. Learn about exemptions for gifts from relatives and the tax rules for gifts from non-relatives.

Calcutta HC Restores GST Registration subject to Compliance within prescribed time

August 19, 2024 447 Views 0 comment Print

The Calcutta High Court orders restoration of GST registration for Abdul Nayim Chowdhury after compliance with tax conditions. 

NFRA imposes monetary penalty of Rs. 10 crores on BSR & Associates LLP

August 19, 2024 15996 Views 0 comment Print

NFRA penalizes BSR & Associates LLP ₹10 crores for audit lapses in Coffee Day Enterprises audit. Partners face fines and debarment.

Extended Limitation under CGST Act Not Invocable Without Clear Allegation of Wilful Misstatements: Calcutta HC

August 19, 2024 2193 Views 0 comment Print

Calcutta HC rules extended period under CGST Act requires clear allegations of willful misstatements. Writ petition dismissed; statutory remedy remains.

Non-Consideration of Reply & ill-health impact: Calcutta HC Directs Fresh Adjudication in GST Case

August 19, 2024 780 Views 0 comment Print

Calcutta HC orders fresh adjudication in Swadhin Bose vs. CGST case due to improper consideration of the appellant’s response and ill-health impact.

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