A comprehensive review of GSTs evolution from launch to a data-driven enforcement regime. The article explains how ITC restrictions, analytics-based actions, and digital compliance have tested principles of fairness and due process.
This article provides a comprehensive overview of CARO 2020 applicability, including exemptions for small companies, OPCs, Section 8 companies, and qualifying private companies. It also summarizes all major reporting clauses that auditors must examine.
This comprehensive checklist covers every stage of a stock and receivables audit, from engagement acceptance to final reporting. It helps auditors avoid common mistakes and improve audit quality through practical guidance.
A critical analysis of whether Rule 39 requires the use of turnover or aggregate turnover for ISD credit distribution. The discussion highlights how adopting the wrong interpretation may lead to inefficient ITC allocation.
This article explains the correct method of calculating ITC reversal when both Rule 37 and Rule 42 apply. It clarifies that taxpayers should adjust for ITC already reversed under Rule 42 to prevent duplication.
GSTAT held that permissions relating to ticket pricing could not override the statutory requirement to pass on GST rate reduction benefits to consumers. The profiteering demand was sustained.
The Court held that a challenge to the validity of a GST circular cannot be relegated to the appellate authority under Section 107, as such authority lacks power to declare a circular ultra vires. The writ petition was remanded for consideration of the vires challenge.
The CCPA held that failure to disclose that many successful candidates attended only a free Interview Guidance Programme amounted to misleading advertising. The key takeaway is that coaching institutes must clearly disclose the nature of courses attended by successful students.
The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, shares, and mutual funds. The key takeaway is that citizens can now access multiple search facilities through a single platform.
The Competition Commission of India has proposed amendments to address administrative and procedural issues identified during implementation of the commitment framework. The changes seek to improve certainty, transparency, and efficiency in commitment proceedings.
