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Archive: 17 October 2024

Posts in 17 October 2024

GST Registration Cancellation cannot be Withheld due to Ongoing Assessment: Delhi HC

October 17, 2024 441 Views 0 comment Print

Delhi HC directs reconsideration of GST cancellation for Pihu Enterprises. Prior proceedings cannot block cancellation but liabilities remain for past statutory violations.

Deduction u/s 80P(2)(a)(i) was allowable on interest income from surplus funds in Bank Deposits

October 17, 2024 1587 Views 0 comment Print

Interest income from bank deposits is eligible for deduction under Section 80P(2)(a)(i) as the funds in the voluntary reserves which were utilized for investment by the co-operative banks were the funds generated from the banking business.

Assessment u/s 147 on protective basis could not be made without a substantive assessment

October 17, 2024 2055 Views 0 comment Print

As per AO, Shri Birat Chandra Dagara was one of the partner of the assessee firm and had owned the mining lease and submitted the details as per which the assessee was found indulged in the illegal production of iron ore.

Employee’s share in PF to be deposited as per due date fixed by EPF Act: Rajasthan HC

October 17, 2024 864 Views 0 comment Print

Rajasthan High Court held that share of the employee in the provident fund deducted by the employer, has to be deposited as per the due date fixed by the EPF Act and ESI Act concerned and not as per Section 43B of the Income Tax Act.

GST registration restored as required payment done for complying with rule 86B: Delhi HC

October 17, 2024 1782 Views 0 comment Print

Delhi High Court held that suspension of GST registration alleging non-compliance with rule 86B of CGST Rules not justified as assessee deposited required amount. Thus, petition allowed and direction given for restoration of GST registration.

Denial of export benefit merely as export proceeds are received in another bank account unjustified

October 17, 2024 1065 Views 0 comment Print

Held that the export of services by the petitioner is an aspect which is neither disputed nor doubted. The only objection which is raised and which constitutes the basis for denial of refund is the remittance by VGSL to the bank account of the Bangalore office.

Allahabad HC Imposes Heavy Cost on Wife for Reckless Allegations Against Husband

October 17, 2024 2328 Views 1 comment Print

Allahabad HC rejects wife’s plea to cancel husband’s bail, imposing Rs 20,000 fine for making reckless allegations. Highlights legal misuse of penal laws.

Additional FAQs on GST Invoice Management System (IMS)

October 17, 2024 6978 Views 2 comments Print

Learn about the latest FAQs on the Invoice Management System (IMS), including GSTR-2B actions, ITC, credit notes, and return filing for October 2024.

Electronic Submission of Appendix 4H Certificates

October 17, 2024 2340 Views 0 comment Print

DGFT introduces electronic submission of Appendix 4H certificates for exporters and certifying authorities under Advance Authorization and DFIA schemes.

Listing Rules for CP and CDs on IFSC Exchanges | IFSCA Circular

October 17, 2024 696 Views 0 comment Print

IFSCA outlines listing guidelines for Commercial Paper (CP) and Certificates of Deposit (CD) on recognized stock exchanges in the IFSC, including eligibility and disclosure rules.

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