Latest Articles
ITAT Allows Final Section 35D Deduction and ESOP Recharge Expense
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
Why Choose the Statutory Audit Domain During Articleship
CA, CS, CMA : Statutory audit offers exposure to accounting, taxation, compliance, internal controls, and business operations during articleship...
GSTR-1 vs GSTR-3B: What’s the Difference and Which One Do You File First?
Goods and Services Tax : The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 s...
How to Get Drug License in India: Step-by-Step Process
Corporate Law : Drug Licenses are essential for businesses involved in selling, distributing, manufacturing, or importing medicines. The licensing...
Why GST Authorities Cannot Retain Redemption Fine After Dropping Section 130 Penalty
Goods and Services Tax : This analysis explains why a redemption fine under Section 130(2) cannot be sustained once authorities conclude that Section 130 l...
Latest News
Experience of Partners, Not Firm Age, Should Determine Co-Operative Audit Eligibility: KSCAA
CA, CS, CMA : KSCAA has urged Karnataka authorities to assess empanelment eligibility based on the audit experience of Chartered Accountants wit...
SEBI Proposes Harmonized Price Bands to Prevent Divergence in Multi-Listed Scrip Prices
SEBI : SEBI has proposed a uniform framework for fixing price bands and pre-open base prices for scrips listed on multiple exchanges. The...
IFSCA FinTech Sandbox Framework, 2026: FAQs
Finance : The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs...
ICAI Virtual Classes for CA Intermediate: May 2027, Sept 2027 & Jan 2028 Exams
CA, CS, CMA : ICAI has unveiled a detailed schedule of virtual classes designed to assist students appearing in upcoming CA Intermediate examina...
Representation on procedural issues in filing of appeals before GSTAT
Goods and Services Tax : The Rajasthan GSTAT Bar has urged the Tribunal to adopt a pragmatic approach by accepting pre-deposits made through the Electronic...
Latest Judiciary
ITC Cannot Be Denied Solely for Absence of Lorry Receipts & Weighment Slips: Madras HC
Goods and Services Tax : The issue was whether ITC could be denied solely because the taxpayer failed to produce lorry receipts and weighment slips despite...
Section 127 & 263 Orders Quashed as Assessee Was Denied Fair Hearing During COVID
Income Tax : The High Court held that merely issuing a notice is insufficient if the assessee is not informed of further developments or given ...
Kerala HC Condones 676-Day ITAT Appeal Delay Due to Auditor Lapse
Income Tax : The Kerala High Court condoned a 676-day delay in filing an ITAT appeal after finding that the assessee had bona fide relied on it...
ITAT Allows Indexation on Construction Cost as Sale Deed Already Contained Building Details
Income Tax : The Chennai ITAT ruled that indexation benefits under Section 48 cannot be denied when construction details are already part of th...
ITAT Deletes Bogus Purchase Addition as Cross-Examination Was Not Granted
Income Tax : The Tribunal observed that reliance on third-party statements without providing cross-examination rendered the additions legally u...
Latest Notifications
GSTAT Committee Proposes Rule Changes to Ease Appeals
Goods and Services Tax : The Committee recommended replacing daily cause lists with weekly schedules and permitting supplementary lists when necessary. The...
IBBI Tightens CIRP Rules to Enhance Transparency in Resolution Decisions
Corporate Law : The Fourth Amendment Regulations, 2026 require committees of creditors to document the rationale behind approving resolution plans...
Countervailing Duty on Aluminium Wire Extended up to 23 March 2027
Custom Duty : Government extends countervailing duty on aluminium wire/wire rod imports from Malaysia up to 23 March 2027 through Notification N...
Anti-Dumping Duty on Aluminium Foil Extended up to 15th December 2026
Custom Duty : Government extends anti-dumping duty on aluminium foil from China, Malaysia, Thailand and Indonesia up to 15 December 2026. Notifi...
Government Waives AIDC on Higher Ethanol-Blended Petrol
Excise Duty : Notification No. 29/2026-Central Excise grants Nil Agriculture Infrastructure and Development Cess on E22, E25, E27 and E30 petrol...
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FAQs
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.
The FAQ clarifies that the Companies Act, 2013 does not restrict adjournment of a duly convened and commenced AGM. An adjourned AGM is treated as a continuation of the original meeting rather than a fresh meeting.
