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Archive: June, 2025

Posts in June, 2025

Amendments to the ITC(HS) codes for the import of Gold and Silver through IIBX

June 2, 2025 996 Views 0 comment Print

IFSCA circular updates ITC(HS) codes for gold and silver imports via India International Bullion Exchange, aligning with recent DGFT and Finance Act changes.

Non-compliance in valuation report: IBBI Dismisses Valuer’s Appeal

June 2, 2025 591 Views 0 comment Print

IBBI rejects appeal by valuer Vipan Kumar against 3-month suspension over non-compliance in valuation report for Base Corporation’s insolvency case.

IBBI Cancels Valuer Registration for suppressing pending criminal charges

June 2, 2025 570 Views 0 comment Print

IBBI cancelled Mr. Shreegopal Govindram Mundhra’s valuer registration for suppressing pending criminal charges during his application. This action highlights integrity requirements.

Physical verification of business premises should be done in presence of person

June 2, 2025 6885 Views 0 comment Print

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.

GST Compliance for Textile Goods Returns

June 2, 2025 1584 Views 0 comment Print

Navigate GST complexities in textile goods returns. Understand challenges like incorrect document issuance, tax adjustments, and unique industry issues to ensure compliance.

HC Upholds ITAT Order Quashing Section 263: AO Conducted Due Enquiries During Assessment

June 2, 2025 465 Views 0 comment Print

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.

Compliance Crisis: Stress on CAs and Need for Client Prioritization

June 2, 2025 942 Views 0 comment Print

Rising stress and premature deaths among CAs highlight a health crisis. Learn how ABC Client Analysis can help prioritize clients, manage workload, and improve well-being.

CA Practice : Engaging In Other Occupations

June 2, 2025 11643 Views 2 comments Print

Understand ICAI regulations for CAs engaging in other occupations, including family businesses and directorships. Learn compliance requirements and activities needing prior permission.

Pakistan Is Fully And Squarely Responsible For Breaching IWT

June 2, 2025 384 Views 0 comment Print

India places the Indus Water Treaty in abeyance due to Pakistan’s sustained cross-border terrorism. This strategic move highlights India’s stance against state-sponsored terrorism and its commitment to regional stability.

Diversion of interest-bearing funds for commercial transactions not disallowable if loans used for business purposes

June 2, 2025 399 Views 0 comment Print

On hearing arguments from the both parties ITAT find some force in the arguments of the assessee. It is an admitted fact that the two concerns namely M/s. Ashoka Builders and Developers and Ashoka Engineering Co. are not related parties.

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