GSTAT accepted DGAP’s repeated findings that the company did not contravene Section 171 of the CGST Act, confirming that GST rate reductions were passed on to recipients as required.
The Goods and Services Tax Appellate Tribunal (GSTAT) accepted the DGAP’s final report, concluding that IREO Victory Valley Pvt. Ltd. did not contravene anti-profiteering provisions under Section 171 of the CGST Act, 2017, as the project received no additional Input Tax Credit (ITC) benefit post-GST.
Auditing is a regulated process culminating in an opinion on whether financial statements are True and Fair. It requires professional judgment and strict compliance with all Standards on Auditing (SAs).
The Bombay High Court ruled that blocking a GST electronic credit ledger under Rule 86A without stating “reason to believe” and offering a timely post-decisional hearing violates natural justice.
India’s Ministry of Finance supersedes 31 past Customs notifications with a single one, streamlining import duty and IGST exemptions for specified goods from Nov 1, 2025.
Bombay HC restored a taxpayer’s GST registration using the Doctrine of Proportionality, ruling that permanent cancellation is excessive if the taxpayer has paid all outstanding dues, interest, and late fees.
Despite GST’s modernization, GSTR-9 and GSTR-9C annual returns face technical flaws, ambiguity in ITC/RCM reporting, and portal limitations, complicating taxpayer compliance.
SEBI eases RPT disclosure requirements for listed entities, introducing a tiered mechanism. Transactions below Rs. 10 crore now require simplified reporting, reducing compliance burden.
Madras HC: Delayed self-assessment tax payment is not ‘wilful evasion’ under IT Act S. 276C(2) if the tax is paid before prosecution. Mens rea is mandatory.
Bombay High Court directed the government to pay ₹71.31 lakh interest on IGST illegally collected on ocean freight, ruling that denial violated the principle of unjust enrichment.
