The issue involved whether clients could simultaneously receive advisory and distribution services. SEBI clarified that strict segregation is mandatory, ensuring no overlap to prevent conflicts of interest.
This article explains major updates replacing the 1962 Rules from April 2026. The key takeaway is simplified compliance with enhanced exemptions and revised tax provisions.
This article explains how issuing a consignment note decides whether a business qualifies as a GTA. The key takeaway is that absence of this document changes GST liability completely.
The circular settles confusion between CPC Bengaluru and Commissioners on delay condonation powers. It confirms Commissioners as the competent authority under section 12A.
Bombay High Court held that import of cosmetic goods without Central Drugs Standard Control Organization license are considered prohibited goods hence the same are liable to be confiscated even if the same were meant for re-export.
Telangana High Court held that in cases involving allegations of fraudulent availment of ITC since transactions are spread across several years issuance of consolidated notice permissible. Writ petition is dismissed due to availability of efficacious alternative remedy of appeal u/s. 107(1) of the Act.
The issue concerned denial of CENVAT credit on services used across multiple units under centralized registration. The Tribunal held that Rule 7 permits distribution of credit subject only to limited conditions and does not restrict usage across units.
The issue was whether reassessment beyond four years was valid without failure to disclose material facts. The courts held that all relevant details were already disclosed during original assessment, making reopening without jurisdiction.
The issue involved failure to file annual returns within the prescribed time. The authority imposed penalties and emphasized strict compliance with statutory filing obligations.
The dispute arose due to mechanical application of Rule 86B by tax authorities. It was held that satisfying exception criteria allows full ITC usage without cash payment. The key takeaway is that awareness of exceptions prevents unnecessary financial burden.
