Section 65 empowers GST authorities to conduct audits of registered taxpayers based on risk and compliance parameters. Understanding audit procedures, timelines, and taxpayer rights can help avoid disputes and unnecessary litigation.
SEBI overturned an earlier order that had exonerated the company, holding that key transactions allegedly created a misleading picture of its financial position. The ruling emphasizes that approvals and disclosures cannot override scrutiny of the economic substance of transactions affecting investors.
The document compiles 85 recent developments across financial regulation, anti-corruption enforcement, corporate investigations, anti-smuggling actions, and national security probes. It highlights increasing scrutiny, regulatory reforms, and inter-agency coordination.
The Supreme Court ruled that GST is payable on the full face value of bets placed on online gaming platforms and not merely on platform fees. The levy was held to be constitutionally valid and retrospective.
Taxpayers are advised to wait until departmental records are fully updated before filing AY 2026-27 returns. Filing too early may lead to mismatches, notices, and refund delays.
This article explains the tax exemption framework for charitable and religious trusts under the Income Tax Act, 2025. It covers registration requirements, exemption conditions, corpus donations, accumulation rules, and GST implications.
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.
