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CAIT request Strict Action against LOTS wholesale solutions for FDI Policy violation

July 23, 2022 762 Views 0 comment Print

Confederation of All India Traders (CAIT) has requested  Minister of Commerce and Industry, Shri Piyush Goyal for strict action against LOTS Whole Solutions owned by SIAM Makro Public Company Limited for blatantly violating the FDI Policy. Confederation of All India Traders “Vyapar Bhawan 925/1, Naiwala, Karol Bagh, New Delhi- 110005. phone: +91-11-45032664, Telefax: +91-11-45032664′ Email: teamcait@gmail.com Website: […]

​​​More than 4500 startups recognized under emerging technologies

July 23, 2022 237 Views 0 comment Print

Due to proactive government interventions, Startups have grown from 471 in 2016 to 72,993 in 2022 Startups spread across 56 diversified sectors ​​​​​​​ More than 4500 startups recognized under emerging technologies such as IOT, Robotics, AI and Analytics etc. Startups and the entire technology ecosystem are the engines of growth for any country. Recognizing this […]

Revenue not permitted to take a contradictory stand before HC

July 22, 2022 1170 Views 0 comment Print

CIT Vs Bangalore Metro Rail Corporation Ltd. (Karnataka High Court) Specific case of the Revenue before the ITAT is that the Contract is a composite one. Shri. Chaitanya is right in his submission that the dominant purpose of the Contract is supply of the passenger rolling stock. Thus, having taken a specific stand before the […]

‘Prescon Realtors’ not passed ITC benefit to Homebuyers in Project ‘Silver Oak: NAA

July 22, 2022 354 Views 0 comment Print

Sh. Arnav Datta Vs Prescon Realtors and Infrastructure Pvt. Ltd. (NAA) It has been revealed from the DGAP’s Report that the ITC as a percentage of the turnover that was available to the Respondent during the pre-GST period (April, 2016 to June, 2017) was 1.43% and during the post-GST period (July, 2017 to September, 2019), […]

Penalty cannot be levied on charges not forming part of penalty proceeding initiation 

July 21, 2022 612 Views 0 comment Print

It is settled position of law that AO cannot levy penalty on charges different from the charges for which penalty proceedings were initiated

Adjudication order without proper SCN is non-est in the eye of law

July 21, 2022 1125 Views 0 comment Print

HC held that any adjudication order is non-est in the eye of law if the same is passed without issuance of proper show-cause notice being dehors principle of natural justice.

Trust cannot be treated as AOP if order cancelling trust registration was set-aside

July 21, 2022 888 Views 0 comment Print

Order of cancellation of registration was set aside by Tribunal and, therefore, direction was issued to assessing officer to assess assessee as a trust and not as AOP

Staff draft of the IFRS Sustainability Disclosure Taxonomy

July 21, 2022 423 Views 0 comment Print

Staff draft of IFRS Sustainability Disclosure Taxonomy is issued by the IFRS Foundation for the public views. This draft sets out the initial thinking of staff of IFRS foundation for development of proposed IFRS Sustainability Disclosure Taxonomy by ISSB.

Working Group on Accounting of Premium, Claims & Related Expenses

July 21, 2022 285 Views 0 comment Print

IRDAI Working Group on Accounting of Premium, Claims and Related Expenses on Estimation Basis and Repatriation of Surplus by FRBs.

Authorisation under rule 96(4)(c) of CGST Rules, 2017

July 21, 2022 2424 Views 0 comment Print

CBIC hereby authorises the Principal Director General/ Director General of Directorate General of Analytics and Risk Management (DGARM), CBIC, New Delhi to exercise the functions under clause (c) of sub-rule (4) of rule 96 of the CGST Rules, throughout the territory of India.

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