Discover the new amendment in the Reverse Charge Mechanism (RCM) for the service of renting a residential dwelling to a registered person.
Learn about the valuation of unquoted equity shares under Income Tax in case of transfer and issue of shares. Understand the importance of Fair Market Value and Capital Gain Tax.
Explore construction activities exempt from GST, including sale of land, ready-to-move flats, and resale properties. Understand provisions of CGST Act, 2017 Schedule II and III. Stay informed to avoid unnecessary tax implications.
Understanding the financial hardship of blocking ITC under Rule 86(A) for taxpayers. Learn about the implications and challenges faced by taxpayers in this scenario.
Understanding the recent ruling on blocking Input Tax Credit (ITC) under Rule 86A by the GST department. Learn more about the implications and legal considerations.
Input tax credit shall be allowed in case of genuine transactions made before the cancellation of GST registration. ITC cannot be denied on genuine transaction with suppliers whose GST registration was cancelled after transaction.
Please note that ITC once availed as per Section 16 (Rules thereto i.e. 36) is credited to Electronic Credit ledger of the registered person and can be utilized for payment towards output tax as provided in Section 49 of the CGST Act, 2017 subject to the conditions and restrictions mentioned in Rule 86A & 86B.
Understanding Income Tax implications in unregistered Joint Development Agreements (JDA). Explore the tax challenges pre-Finance Act 2017 and the impact of Section 45(5A) introduced to ease hardships for landowners. Stay informed on taxation aspects in property development.
Understanding the grounds of challenge in case of a vague show cause notice under GST. Learn about the importance of a proper notice under Section 74 of the CGST Act.
Uncover instances of the misuse of Section 10 of the Insolvency and Bankruptcy Code (IBC) by Corporate Debtors with the intention to defraud stakeholders. Explore legal considerations, penalties under Sections 65 and 66, and NCLT’s discretion in such cases. Stay informed on protecting creditor rights.
