Fiscal deficit cut, steady tax policy, and financial reforms define a prudent Budget, but success depends on execution, growth sustainability, and market stability.
Authorities imposed mandatory penalties after directors failed to explain adverse audit remarks in the Directors’ Report, breaching statutory disclosure obligations.
The High Court examined whether delay beyond the limit prescribed under GST law could be condoned. It held that appeals filed after the maximum period under Section 107 are not maintainable.
Reiterating limits under Sections 73 and 74, the court ruled that combining several tax years into one GST notice is legally impermissible, though fresh notices may be issued lawfully.
The issue was whether accused persons in alleged GST evasion were entitled to bail. The Court held that the seriousness of the offence and electronic evidence justified rejection of bail.
The issue before the SC was whether continued custody was justified after filing of the charge sheet. The Court held that documentary evidence, official witnesses, and prolonged custody warranted grant of bail.
The AAR held that royalty paid for mining leases is consideration for licensing services to use minerals. Such services fall under SAC 997337 and attract 18% GST under reverse charge.
The Maharashtra AAR held that employer-provided canteen services amount to a taxable supply where any amount is recovered from employees, with GST payable on the recovered portion.
The Authority held that diagnostic tests, medicines, bed charges, and consumables provided to in-patients are naturally bundled with treatment, forming a composite supply with healthcare as the principal service, eligible for exemption.
The authority closed the proceedings after the applicant withdrew its request on GST rate and service classification for affordable housing construction. No ruling was given on merits, leaving the issues undecided.
