The Budget introduces a ₹10,000 crore SME Growth Fund and GST interest relief, while imposing mandatory late fees for tax audit delays. Taxpayers must balance benefits with stricter compliance.
Under the CGST Act, executives responsible for company operations may face prosecution unless they prove due diligence. Corporate personality no longer provides absolute protection.
Learn the legal routes, tax exemptions, and documentation required to preserve tender eligibility during business transfer. Proper structuring under Section 47(xiii) is crucial.
Major updates include Supreme Court GST classification rulings, IBC jurisdiction clarifications, DTAA amendment with France, and DGFT export relaxations. Compliance and enforcement landscape sees significant changes.
India introduced a 6% and later 2% digital tax to capture revenue from non-resident tech giants operating without a permanent establishment. The levy operates outside tax treaties to ensure enforceability.
Courts have held that money laundering is a distinct offence from the predicate crime. Parallel prosecutions under PMLA do not violate Article 20(2) unless there is identity of the same offence.
Courts have clarified that “reason to believe” under GST must rest on tangible material, not mere suspicion or template notices. Arbitrary cancellations, searches, and arrests without recorded reasons are legally unsustainable.
Draft Rules 194–196 prescribe Forms 117 and 118 for appeal procedures and define the structure of the Dispute Resolution Committee to ensure uniform and efficient tax dispute handling.
Draft Rules 191 to 193 clarify modes of service, regulate admission of additional evidence before appellate authorities, and mandate prescribed forms for filing appeals and cross-objections before the Appellate Tribunal.
Setting aside the assessment, the Court held that non-selection of a portal option cannot deprive an assessee of oral hearing. Denial of such opportunity amounted to violation of natural justice.
