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Reconstitution of GoM for boosting Real Estate Sector under GST

February 10, 2022 1443 Views 0 comment Print

Constitution of Group of Ministers (GoM) for boosting Real Estate Sector under GST regime – In partial modification to the OM of even number dated 15.01.2019 & 05.01.2022 on the subject cited above, it is stated that reconstituted membership of the GoM is as follows: –

RBI keep policy repo rate under LAF unchanged at 4.0 per cent.

February 10, 2022 1011 Views 0 comment Print

As I make this statement, the pandemic holds the global economy hostage once again. Despite signs of moderation, record numbers of daily infections in several countries and consequent containment measures are denting the pace of economic activity, especially in contact-intensive sectors, even as supply disruptions persist and restrained workforce participation tightens the labour markets.

 2 out of 5 compliances can send an entrepreneur to jail

February 10, 2022 1362 Views 1 comment Print

Doing business in India is challenging due to the presence of imprisonment clauses in its business laws enacted since Independence. What policy reforms are required to transform India’s business climate?

CA Final & Foundation December 2021 Pass percentage & Topper List

February 10, 2022 32757 Views 0 comment Print

ICAI declares CA Final (New & Old Scheme) & CA Foundation Examination December 2021 Pass percentage & List of Top 3 students. This post contains Pass Percentage and Toppers of Chartered Accountants Final (New Scheme) Examination, Chartered Accountants- Final (Old Scheme) Examination and Chartered Accountants- Foundation Examination Held In December 2021. ICAI Press Release The […]

GSTN cannot avoid giving effect to Court order by giving excuse of technical glitches

February 10, 2022 1341 Views 0 comment Print

Wardwizard Innovations And Mobility Limited Vs Commissioner, SGST (Gujarat High Court) Learned AGP expressed an apprehension that even as on date, the respondent no.2 may not be in a position to give effect to the order passed by the appellate authority due to technical glitches. Mr. Sharma solicits the help of the respondent no.3 – […]

CGST busts fake ITC racket, arrests proprietor of scrap metal firm

February 10, 2022 1869 Views 0 comment Print

CGST Commissionerate, Navi Mumbai has busted a fake ITC racket of Rs. 10.26 Crores and arrested the proprietor of M/s. Al-Marwah Traders on Tuesday (8th February, 2022).

AAR Karnataka allows ‘Toyota Kirloskar Motor’ to withdraw application

February 10, 2022 1455 Views 0 comment Print

Toyota Kirloskar Motor Private Limited vide their letter dated : 03-02-2022 requested Authority For Advance Ruling, Karnataka to permit them to withdraw their application quoting the commercial reasons.

AO cannot disallow expenses on his whims & fancies & needs to follow Rule of Consistency

February 10, 2022 4242 Views 0 comment Print

No reason is assigned for not following Rule of Consistency. The Revenue is under legal obligation to be consistent in its approach regarding taxability of any item. It cannot be purely on the whims and fancies of the Assessing Officer.

CESTAT upheld Penalty for negligence by Custom Broker

February 10, 2022 732 Views 0 comment Print

Cargo Specialist Inc. Vs Commissioner of Customs  (CESTAT Delhi) CESTAT finds that it has been recorded in the final order that the appellant – Custom Broker inspite of having already handled eight export consignment in the past, till the inspection of the 9th consignment, has never met the exporter or the owner of M/s Fashion […]

Section 54 exemption cannot be denied for delay in possession due to builder’s fault 

February 10, 2022 10437 Views 0 comment Print

ACIT Vs Vinay Girish Bajpai (ITAT Mumbai) Assessee claimed that he has complied with all the requirements of claiming exemption/deduction under section 54 of the IT Act. He submitted that assessee has made the payment to the builder within the stipulated time. There was some issue of obtaining the completion certificate by the builder. Hence, […]

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