This article examines how GST enforcement shifts the burden of supplier failures onto bona fide buyers. The key takeaway is that courts consistently hold recovery must be made from defaulting suppliers, not compliant recipients.
GST law continues to deny ITC on buildings and civil structures used in manufacturing. This significantly increases capital costs despite their essential role in business operations.
The law mandates successor entities to file modified returns within six months of a reorganisation order. This ensures tax assessments align strictly with approved merger or demerger schemes.
Income-tax attachments can halt business and personal finances. Relief depends on identifying the correct legal trigger and pursuing the appropriate statutory remedy.
GST law bars returns after three years, but an approval-based unbarring facility offers limited relief. Filing is possible only with officer approval and strict timelines.
The GST portal now adjusts interest using minimum cash ledger balance during delays. Taxpayers must still verify and self-compute the final interest liability.
SEBI reclassified REITs as equity instruments to resolve inconsistent treatment across fund categories. The move aligns risk disclosure with investor expectations and global norms.
The court ruled that delayed filing of Form 10 for income accumulation cannot defeat exemption when substantive conditions are met. Rejection of condonation was held unsustainable.
The court held that late electronic filing of Form 10B is a procedural lapse that should not defeat charitable exemption. Orders rejecting condonation on technical grounds were quashed.
The court held that late filing of Form 10B is a procedural lapse and does not automatically bar charitable exemption. Substantial compliance before appellate proceedings was found sufficient.
