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Archive: August, 2024

Posts in August, 2024

Demystifying Returnable Grants under CSR lens

August 7, 2024 1638 Views 0 comment Print

Explore returnable grants in CSR, their benefits, and challenges. Learn how these grants promote financial inclusion and multiply impact while adhering to regulations.

Process of Startup India Registration

August 7, 2024 1122 Views 0 comment Print

Learn how to register for Startup India, including tax benefits, IPR fast-tracking, and more. Get insights into the registration process and available funding options.

Advance Ruling on GST Applicability for M/s Raibag Taluk MSPC Supplying Food Products to Childcare Centers (Aanganwadis)

August 7, 2024 561 Views 0 comment Print

Advance ruling clarifies that RAIBAG TALUK MSPC’s food supply to Aanganwadis does not qualify for GST exemptions under specific notifications.

Electronic Control Units for Electronic Power Steering classifiable under CTI 8708 94 00: CESTAT Delhi

August 7, 2024 1119 Views 0 comment Print

CESTAT Delhi held that Electronic Control Units for Electronic Power Steering (EPS-ECU) and its sub-assembly are correctly classifiable under Customs Tariff Heading 8708 94 00.

Boilers Bill, 2024 introduced in Rajya Sabha to replace a century old law

August 7, 2024 1107 Views 0 comment Print

The Boilers Bill, 2024, replacing the 1923 Act, decriminalizes offences, enhances safety, and updates provisions for modern business needs. Learn more.

Screening Test & Medical Institution Accreditation Fees Taxable Under GST: Delhi HC

August 7, 2024 1218 Views 0 comment Print

Delhi High Court held that services provided for conducting screening test and the fees charged for accrediting medical institutions does not fall within the scope of Serial No.66(a) and Serial No.66(aa) of the 2017 Notification and hence not exempt from payment of GST.

Direction given by Tribunal to AO to re-examine issue cannot be disregarded: Delhi HC

August 7, 2024 726 Views 0 comment Print

Delhi High Court held that once the Tribunal had called upon the AO to examine the issue afresh, the said direction could not have been disregarded by reference to a Circular No. 549 dated 31 October 1989 issued by the CBDT.

Initiation of re-assessment proceedings merely based on faceless information quashed: Bombay HC

August 7, 2024 2106 Views 0 comment Print

Bombay High Court held that initiation of re-assessment proceedings u/s. 148 of the Income Tax Act without verifying the information derived from the mechanism of faceless collection of information is unsustainable and liable to be quashed.

Notification No. 98/2024 Income Tax Exemption for Karnataka Disaster Centre

August 7, 2024 1092 Views 0 comment Print

CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 to 2025-26 with conditions.

Notification No. 97/2024 Income Tax Exemption for Kalyan Karnataka Board

August 7, 2024 354 Views 0 comment Print

Ministry of Finance notifies Kalyan Karnataka Region Development Board’s tax exemption for grants and interest, effective for FYs 2021-22 and 2022-23.

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