Orrisa High Court held that the petitioner is entitled to interest on the amount refunded with respect to IGST paid on ocean freight. Accordingly, competent authority is directed to pay simple interest @6% per annum on amount of refund.
Madras High Court held that dormant partner cannot be made vicariously liable for benami transaction especially since even the necessary averment to invoke vicarious liability is absent in the complaint. Accordingly, order set aside to that extent.
ICAI has published the draft MEF panel prepared under RBI norms. Members can verify details, reasons for ineligibility, and submit objections before finalisation.
NCLAT Delhi held that provisions of section 9(2) of the CST Act doesn’t create statutory charge on the assets of the Corporate Debtor. Thus, unpaid CST dues are unsecured debt. Accordingly, appeal is dismissed and order of Adjudicating Authority upheld.
The issue was whether GST applies on amounts deducted as “royalty” from contractors’ bills. It was held that such deductions do not constitute taxable supply and cannot attract GST.
This explains how Company Secretaries ensure legal, governance, and compliance preparedness before listing. The key takeaway is that IPO success depends as much on governance as on financials.
The article explains how AIS-based data matching is triggering tax notices despite Form 26AS matching. The key takeaway is that AIS now drives scrutiny and compliance.
Karnataka High Court held that vocational training qualifies as education under section 2(15) of the Income Tax Act. Exemption under section 11 of the Income Tax Act allowed since surplus generated is used only for educational purposes. Accordingly, writ allowed.
Accepting Bitcoin can streamline payments, but Indian law imposes a flat 30% tax on VDA income and 1% TDS on transfers. Businesses must adopt strict valuation, accounting, and reporting systems to remain compliant.
Setting aside the lower authorities orders, the Tribunal ruled that reliance on amalgamation-related precedents was misplaced. It reaffirmed that goodwill from a slump sale is depreciable when not hit by statutory restrictions.
