The amendment introduces imprisonment for failure to comply with NFRA orders. Auditors now face criminal consequences beyond financial penalties.
CESTAT Chennai held that clearance of personal computers from Special Economic Zone [SEZ] to Domestic Tariff Area [DTA] cannot be automatically classified as imported for personal use under CTH 9804 90 00 without discharging burden of proof. Accordingly, classification based on assumption set aside and appeal is allowed.
The amendment introduces a statutory route for AIF trusts to convert into LLPs. This enables better structuring but requires investor consent and careful liability assessment.
The article highlights how higher GST on battery rentals erodes cost advantages of BaaS. It emphasizes the need for tax alignment to support EV adoption.
ITAT held that late filing of Form 67 is only a procedural lapse and not a ground to deny FTC. The matter was remanded for verification and grant of eligible credit.
The continued use of old Form 13 instead of Form 128 reflects system lag. The issue underscores the need for synchronization between law and digital compliance tools.
The Bill increases eligibility limits for small companies, widening coverage and reducing compliance obligations. The reform aims to promote ease of doing business while simplifying regulatory requirements.
GST registration cannot be cancelled merely due to an unregistered rental agreement, as it is not a statutory ground. Courts emphasize that procedural defects do not justify drastic actions like cancellation.
The court held that failure to grant a personal hearing violated statutory provisions and natural justice, invalidating the proceedings. It ruled that such defects cannot be cured at the appellate stage.
The court held that parties cannot introduce additional evidence as a matter of right under Rule 29. The ITAT’s acceptance of Revenue-filed evidence and remand order was set aside as beyond jurisdiction.
