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Look out Circular can be Issued against personal guarantor of economic offenders

July 10, 2022 3372 Views 0 comment Print

Garikapati Venkateswara Rao W/o. Chenchaia Vs Union of India (Telangana High Court) It was not in dispute that GVR Infra Projects Limited had taken loan of Rs.250.03 Crores from the erstwhile Vijaya Bank which was now merged with Bank of Baroda, Respondent Nos.7 and 8 herein. It was also not disputed by the petitioner that […]

Arbitral Award Vitiated By Serious Fraud & Criminal Conspiracy

July 10, 2022 1716 Views 0 comment Print

Bali Nagwanshi Vs State of Chhattisgarh (Chhattisgarh High Court) The main contention of the respondent State, respondent-BRPL and respondent- Union of India is this that the whole process for determination of compensation was based on fraud and criminal conspiracy, as out of numerous land oustees, only two of them, namely, Bali Nagwanshi and Neelima Belsariya […]

Summary of SCN in Form DRC-01 is not a substitute of SCN U/s. 74(1)

July 8, 2022 9024 Views 0 comment Print

As per Rule 142(1)(a) of the JGST Rules, the summary of show cause notice has to be issued electronically to keep track of the proceeding initiated against the registered persona whereas a show cause notice need not necessarily be issued electronically.

Avoid Your Home Loan Application from Being Rejected

July 8, 2022 1155 Views 0 comment Print

You need to remember certain things when you apply for a home loan to avoid your application from getting rejected. For instance, you need to submit all the required genuine documents. Besides that, here are the other things to keep in mind to avoid a loan rejection.

GIST of recent notifications issued by CBIC on 5th July 2022

July 8, 2022 3279 Views 0 comment Print

CBIC issued notification No. 09/2022-Central Tax to 14/2022-Central Tax  under Central Goods and Service Tax (CGST) Act, 2017 on 05th July 2022

Exemption from GST on final cost of Indian National Flag Tiranga

July 8, 2022 12066 Views 0 comment Print

Govt clarified that GST in exempt on on final cost of Indian National Flag Tiranga supplied under Har Ghar Tiranga programme. Relevant clarification is as follows:- MOST IMMEDIATE F. No. 354/17/2022-TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit Room No. 156, North Block New Delhi, 8th July, 2022 OFFICE MEMORANDUM […]

CBIC Withdraws Circular No. 106/25/2019-GST dated 29.06.2019

July 6, 2022 13200 Views 0 comment Print

Central Goods and Services Tax Act, 2017, hereby withdraws, ab-initio, Circular No 106/25/2019-GST dated 29th June, 2019.

Manner of filing refund of unutilized ITC on account of export of electricity

July 6, 2022 4689 Views 0 comment Print

Problem being faced by power generating units in filing of refund of unutilised Input Tax Credit (ITC) on account of export of electricity.

Re-credit in electronic credit ledger using FORM GST PMT-03A

July 6, 2022 27300 Views 0 comment Print

GSTN has recently developed a new functionality of FORM GST PMT-03A which allows proper officer to re-credit the amount in the electronic credit ledger of the taxpayer.

Clarification on issue of claiming refund under inverted duty structure

July 6, 2022 13887 Views 0 comment Print

Clarification on issue of claiming refund under inverted duty structure where the supplier is supplying goods under some concessional notification

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