The primary significance of the Place of Supply lies in determining whether a transaction is an inter-state supply (attracting IGST) or an intra-state supply (attracting CGST and SGST/UTGST).
Delhi High Court held that addition towards unexplained credits against companies used as a conduit for routing accommodation entries is not justified since they are not ultimate beneficiaries. Accordingly, appeal of revenue dismissed.
CBIC unveils FY2025 action plan, launches feedback system, and uncovers Rs. 20 crore import fraud involving undervalued luxury furniture.
Delhi High Court held that reassessment under section 148 of the Income Tax Act cannot be sustained since there is no tangible material for forming a belief that petitioners had a dependent Permanent Establishment or Fixed Place PE in India
IFSCA circular updates ITC(HS) codes for gold and silver imports via India International Bullion Exchange, aligning with recent DGFT and Finance Act changes.
IBBI rejects appeal by valuer Vipan Kumar against 3-month suspension over non-compliance in valuation report for Base Corporation’s insolvency case.
IBBI cancelled Mr. Shreegopal Govindram Mundhra’s valuer registration for suppressing pending criminal charges during his application. This action highlights integrity requirements.
The Madhya Pradesh High Court ruled that physical verification of business premises for GST purposes must occur in the presence of the concerned person and requires proper witness documentation.
Navigate GST complexities in textile goods returns. Understand challenges like incorrect document issuance, tax adjustments, and unique industry issues to ensure compliance.
In Malabar Industrial Co. Ltd. Vs. Commissioner of Income Tax, Kerala State reported in (2000) 243 ITR 83 Hon’ble apex court have held that The phrase “prejudicial to the interests of the Revenue” has to be read in conjunction with an erroneous order passed.
