Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, regardless of label.
Overview of ESOPs in private companies covering legal requirements, pool structuring, accounting treatment, employee taxation, and compliance obligations.
IRDAI has cautioned that the entity’s Certificate of Registration as an Insurance Marketing Firm has expired and remains unrenewed. The public has been advised not to engage with the company or its representatives for insurance-related services.
The article explains that where recipients never avail ITC on rejected goods, no reversal is required upon issuance of credit notes under Section 34. Proper documentation can support GST compliance during audits and departmental proceedings.
Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct rate depends on whether the arrangement is a pure lease, equipment rental, or a service contract.
Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). The Tribunal ruled that rectification under Section 154 was valid as the omission was a mistake apparent from the record.
The representation seeks safeguards against automatic ITC reversals arising from supplier defaults and retrospective cancellations. It emphasizes that bona fide buyers deserve fair treatment and a meaningful opportunity to prove genuine transactions.
The Telangana High Court dealt with the legality of issuing multiple show cause notices for the same tax period without adjudicating the earlier notice. The Court set aside the ex parte assessment order and directed a fresh adjudication after granting the taxpayer an opportunity to respond.
The issue was whether a GST appeal filed within limitation could be dismissed merely because the mandatory pre-deposit was not made simultaneously with the appeal filing. The Telangana High Court held that such rejection was unjustified when the pre-deposit was subsequently made during the pendency of the appeal.
The issue was whether a taxpayer could pursue a statutory appeal after approaching the High Court against a GST demand order and subsequent bank attachment notice.
