Alcohol is constitutionally excluded from GST, while petrol is only temporarily kept out, making their legal treatment fundamentally different.
Rule 87(14) now permits moving unutilised IGST cash from one GSTIN to another under the same PAN via PMT-09, easing blocked cash issues while preserving GSTIN independence.
RBI has laid down a structured relief mechanism for borrowers hit by natural calamities. The framework allows restructuring while protecting asset classification.
The regulator held that cumulative shareholding changes crossing prescribed limits require prior approval. A warning was issued for non-compliance despite the lapse being termed unintentional.
ITAT held that execution of a registered joint development agreement amounts to transfer of land. Capital gains timing must be determined from that date, not a later year chosen by the assessee.
Explains when GST applies to real estate transactions and when sale of land or buildings falls outside GST. The key takeaway is that GST targets construction services, not immovable property itself.
The Tribunal held that reopening after four years is invalid without alleging failure to disclose material facts. The reassessment was barred by the proviso to section 147.
The Tribunal held that rural agricultural land excluded from capital asset under Section 2(14) cannot be taxed under Section 56(2)(vii)(b). Addition based on stamp duty valuation was therefore deleted in full.
Indian law permits LLPs that have stopped operations and cleared liabilities to voluntarily strike off their name. The process enables a clean, lawful exit while avoiding ongoing compliance costs and penalties.
The Tribunal held that serving notices on an outdated email ID violates principles of natural justice. The assessment was set aside and the matter restored for fresh adjudication after proper service.
