Latest Articles
Section 155 GST: How Much Must Buyers Prove for ITC Claims?
Goods and Services Tax : This article explains the extent of the burden of proof under Section 155 of the CGST Act. The key takeaway is that recipients mus...
CMA Data in context of Working Capital Assessment and Stock Audits
CA, CS, CMA : CMA data forms the backbone of working capital assessment by helping banks determine genuine funding requirements and borrower con...
Latest Changes in ITR-1, ITR-2 & ITR-4 for A.Y. 2026-27
Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Dual GST Jurisdiction: How Parallel Proceedings Are Burdening Taxpayers
Goods and Services Tax : Dual Control Without Coordination: How CGST–SGST Jurisdiction Gaps Are Trapping Taxpayers in Parallel Proceedings Overview One o...
Pre-Deposit In Penalty Only Proceedings Under GST: A Challenge To Fair Appellate Remedy
Goods and Services Tax : The debate over mandatory pre-deposit in GST penalty-only proceedings has gained momentum after the Finance Act, 2025 amendment. C...
Latest News
GST Audit Flags MSME Challenges: Key Recommendations to Improve Ease of Doing Business
Goods and Services Tax : Stakeholders identified persistent issues in GST registration, cancellations, and refund processing affecting MSMEs. The consultat...
ICSI Expands Alternative Mode CLDP Eligibility to Address Training Gaps for Students
CA, CS, CMA : ICSI approved broader eligibility criteria for Alternative Mode CLDP, benefiting students under earlier training structures and ce...
ICAI Invites Nominations for 40 Under 40 Awards to Recognize Young CA Business Leaders
CA, CS, CMA : ICAI has opened nominations for Season 5 of the 40 Under 40 CA Business Leader Awards to honour Chartered Accountants under 40 dem...
ICSI First Bi-Annual Southern Region Convocation of FY 2026-2027
CA, CS, CMA : ICSI has mandated advance online registration for eligible members attending the Southern Region Convocation. The notification emp...
CAAS Urges Responsible AI Use in GST Administration
CA, CS, CMA : CAAS suggested that while favourable outcomes may be automated, adverse actions should require a named officer's approval supporte...
Latest Judiciary
Bogus LTCG Addition Sustained as Tribunal Finds Evidence of Fabricated Share Purchase Records
Income Tax : The Delhi ITAT sustained the addition arising from the sale of listed shares after finding discrepancies in purchase records, incl...
ITAT Lucknow Allows Set-Off of Spouse’s F&O Losses Arising From Gifted Funds
Income Tax : ITAT Lucknow held that derivative losses incurred by a spouse using funds gifted by the assessee can be clubbed and set off under ...
Telangana HC Grants Bail in ₹30 Crore GST Fraud Case as No Complaint Filed Despite 60 Days of Custody
Goods and Services Tax : The Telangana High Court granted bail to an accused in a Rs.30 crore fake GST ITC case after noting that no complaint had been fil...
JAO Lacked Jurisdiction to Issue Section 148 Notice: Rajasthan HC
Income Tax : While recognising that earlier judgments had invalidated JAO-issued notices, the Court avoided passing orders that would make the ...
ITAT Directs GP-Based Addition as Jewellery Purchases Formed Part of Sales & Closing Stock
Income Tax : The Delhi ITAT held that where purchases are reflected in accepted sales and closing stock, the entire purchase amount cannot be d...
Latest Notifications
MeitY Amends Registration Order as Standalone Hard Disk Drives Require Separate Regulatory Coverage
Corporate Law : The notification revises the 2021 Compulsory Registration Order by specifically covering standalone hard disk drives under the pre...
CBIC Issues Customs Instruction as MeitY Expanded Compulsory Registration Coverage to Standalone Hard Disk Drives
Custom Duty : CBIC directed field officers to implement MeitY's revised registration requirements for standalone hard disk drives. The new frame...
CBIC Issues Highly Specialized Equipmen Exemption Implementation Guidelines
Custom Duty : Equipment using three-phase power, higher current ratings, larger dimensions, or heavier configurations may be exempt from compuls...
Commencing Business Before Filing INC-20A: ROC imposes ₹3.5 Lakh Penalty
Company Law : ROC held that starting business operations before filing the mandatory declaration under Section 10A violated the Companies Act. T...
IRDAI Cautions Public Against Dealing with Stareureka Insurance Company
Corporate Law : IRDAI has cautioned that the entity's Certificate of Registration as an Insurance Marketing Firm has expired and remains unrenewed...
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FAQs
The analysis explains the statutory mechanism under Section 168(3) for restoring a functioning Board when all directors resign or vacate office. It also discusses the role of promoters and the Central Government in preventing a governance vacuum.
The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 should be filed first to ensure proper ITC flow and avoid reconciliation mismatches and scrutiny.
The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs. It aims to promote innovation while maintaining regulatory oversight.
Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TDS/TCS credits, and specified financial transactions of taxpayers. The Income-tax Act mandates obtaining and quoting PAN for various persons and high-value transactions, while also prohibiting possession of multiple PANs and prescribing penalties for non-compliance.
CDSCO registration is required for importing, manufacturing, or marketing regulated healthcare products in India. The approval ensures compliance with safety, quality, and regulatory standards.
