Selling cigarettes disqualifies traders from the GST composition scheme regardless of turnover. Small retailers must follow regular GST compliance to avoid penalties.
Learn why bank loans are rejected due to poor documentation, weak financials, and unclear business models. Discover practical solutions to improve approval chances.
ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepted without detailed verification. Accordingly, revision is upheld and the present appeal is dismissed.
CESTAT Kolkata held that the charge of clandestine removal of goods cannot be proved on the basis of private records recovered during the course of investigation in the absence of any corroborative evidence in support. Accordingly, order set aside and appeal is allowed.
This explains why bank loans are rejected due to poor documentation, weak financials, and unclear business models. It also highlights practical fixes to improve approval chances.
The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, rights, and possible outcomes, ensuring clarity on compliance requirements and dispute resolution.
The court examined whether an advocate involved in filing GST returns for fake entities should remain in custody. It granted bail, holding that limited compliance involvement and completed investigation justified release.
The case deals with failure to comply with the mandatory 120-day gap between Board meetings. The authority imposed penalties despite voluntary disclosure, reinforcing strict compliance requirements.
The GST portal launches an Excel-based IMS Offline Tool to help taxpayers efficiently manage and process invoices. It enables bulk actions, reduces manual effort, and improves compliance accuracy through structured validation and upload features.
The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled that absence of such order renders proceedings void ab initio, irrespective of merits.
