Latest Articles
Professionals Not Liable for GST Fraud Without Active Role Gujarat HC
Goods and Services Tax : The Court held that arrest under GST requires clear evidence of fraudulent intent and active involvement. Mere association with di...
Procedure for Issue of Share Certificates After Incorporation Under Companies Act, 2013
Company Law : This guide explains the legal steps for issuing share certificates after incorporation. It highlights timelines, board approvals, ...
GST on Restaurants, Lodges, Marriage Halls and Pilgrim Rooms
Goods and Services Tax : This guide explains GST rates, composition scheme eligibility, and new hotel tariff slabs. It highlights how ITC restrictions and ...
Bona Fide GST Return Corrections Cannot Be Denied: Karnataka HC Landmark Ruling
Goods and Services Tax : The Court held that genuine errors in returns can be corrected despite statutory deadlines. Technical timelines cannot override ac...
YouTuber Guilty of Criminal Contempt for remarks against Judiciary: Delhi HC
Corporate Law : The Court ruled that making unverified allegations against judicial officers amounts to criminal contempt. It emphasized that crit...
Latest News
Representation on Cancellation of GST Registration & Refund Processing
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Mastermind Arrested for ₹1,825 Crore GST Refund Fraud via Fake ITC & Bogus Exports
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
India–Korea MoU Signed to Boost Financial Regulatory Cooperation
Finance : The issue highlights a new agreement between financial regulators of both countries. The key takeaway is that the MoU promotes col...
IFSCA Registers First Foreign Family Investment Fund
Finance : IFSCA approved the first foreign family office fund under its 2025 regulations. The move strengthens GIFT IFSC’s position as a g...
Latest Judiciary
GST Delay Condonation Rejection Invalid Without Reasoned Order: P&H HC
Goods and Services Tax : The High Court ruled that rejecting condonation requests through mere communication without a speaking order is invalid. Authoriti...
Arecanuts Not Meant for Consumption Fall Outside FSSAI Scope: Bombay High Court Directs Release of Seized Goods
Corporate Law : The issue concerns whether startups can sell regulated products without BIS certification. It is established that certification is...
No Extended Limitation Without Mens Rea: CESTAT Chandigarh
Service Tax : The Tribunal held that the extended limitation period cannot be invoked without proving intent to evade tax. Since no fraud, suppr...
No Double GST Recovery/Demand If Tax Already Paid: Telangana HC
Goods and Services Tax : The Court found that tax already paid cannot be demanded again through adjudication proceedings. It allowed the taxpayer to seek r...
Telangana HC Allows Manual Revocation of GST Registration Despite Time Bar
Goods and Services Tax : The Court allowed the taxpayer to seek revocation even after expiry of the statutory timeline. It directed authorities to consider...
Latest Notifications
DIR-3 KYC Delay Now Costs ₹5,000 and amendement costs ₹500
Company Law : The issue concerns compliance delays in director KYC filings. The amendment imposes a ₹5,000 penalty for late submission, reinfo...
Failure to Verify Wilful Defaulter Status Leads to 2-Year Suspension of IP
Corporate Law : The issue was whether an insolvency professional fulfilled due diligence obligations under Section 29A. The Committee held that fa...
Ship Leasing Rules Amended Due to Ban on Asset Management Services in IFSCs
Finance : The issue was regulatory overlap after asset management services were restricted. The Authority removed a conflicting provision, e...
Framework for rights issue under IFSCA (Listing) Regulations, 2024
Finance : The issue was the lack of a unified process for rights issues in IFSCs. The Authority introduced a detailed framework mandating di...
IFSC Circular Mandates Disclosure and Approval Norms for Preferential Allotments
Finance : The circular addresses how listed entities can raise capital through preferential issues and QIPs. It establishes eligibility cond...
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FAQs
Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, timeline, and conditions.
The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with flexible usage and repatriation of funds.
The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% additional fees payable.
IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility conditions and prevents incorrect refund claims.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
