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New Invoice Management System on GST portal from 1st Oct 2024 helps manage invoice corrections with vendors. Only accepted invoices will reflect in GSTR-2B.
Bombay HC upholds ITAT ruling on non-imposition of penalty under Section 271D for journal entries, citing reasonable cause under Section 273B. Appeals dismissed.
CESTAT Delhi held that in absence of evidence of over-valuation of export goods, the transaction value was wrongly rejected under Rule 8 of the Customs Valuation Rules. Thus, value declared in shipping bills accepted.
ITAT Delhi held that Rule 128(9) nowhere debars claim of Foreign Tax Credit on account of delay in furnishing Form No. 67. The provisions contained under Rule 128(9) are directory and accordingly, allowed the credit of FTC.
MCA imposes penalties on Precious Milestone Pvt Ltd and directors for late filing of E-Form MGT-6. Details on penalties and compliance requirements included.
Rajasthan HC rules reducing passport validity for under-trials undermines presumption of innocence, allows 10-year validity for petitioner facing charges.
Madras High Court directs consideration of GST appeal on merits despite it being filed beyond the limitation period due to accountant’s illness.
The 54th GST Council clarified tax treatment of Preferential Location Charges (PLC) in real estate. PLC is bundled with construction services, subject to composite supply.
This article discusses the GST classification of Natural Fiber Composite (NFC) boards, doors, and frames, and the appropriate rate applicable as per Chapter 44.
Advance ruling on GST applicability for works contract involving supply and installation for Naval Dockyard. No concessional MRO service rate applicable.
