The Tribunal upheld deletion of addition under Section 68, holding that reliance on an investigation report without independent verification and without disproving documentary evidence cannot sustain bogus LTCG allegations.
The Kerala High Court set aside composite notices issued under Sections 73 and 74 of the CGST/SGST Act for multiple assessment years. It held that such notices prejudice taxpayers and exceed statutory authority.
Government clarifies that SEZ Developers and Units can submit BLUT electronically, dispensing with stamp paper and notarization requirements under revised instructions.
The regulator has permitted sharing of structured subscriber information with Pension Funds to strengthen scheme promotion and performance assessment. The circular mandates strict compliance with data protection laws and regulatory oversight to prevent misuse.
The framework clarifies that Audit Commissionerates and DGGI are empowered to issue SCNs under Sections 73 and 74 of the CGST Act, but adjudication lies with designated jurisdictional authorities. In multi-Commissionerate cases, CBIC appoints a common adjudicator.
The article analyses whether lower tax rates under Section 115BAC outweigh the loss of deductions, examining legal validity and financial impact on middle-class taxpayers.
This article explains how GST applies to digital services under OIDAR, highlighting place of supply rules, foreign supplier compliance, and emerging cross-border taxation issues.
Section 76 allows recovery of GST collected but not remitted, with equal penalty and interest. Courts are urging authorities to act against defaulting suppliers instead of penalising recipients.
Database mismatches can wrongly deactivate PAN for NRIs, resulting in higher tax withholding and significant capital blockage during property transactions.
High revenue alone cannot ensure stability. This article explains why founders must monitor cash forecasts, unit economics, and working capital to avoid liquidity crises and ensure scalable growth.
