Latest Articles
Real Masterminds vs Soft Targets: What ₹1,825 Crore GST Scam Teaches Us
Goods and Services Tax : The comparison shows how large-scale frauds go undetected for years while professionals face immediate coercive action. Courts hav...
India’s Online Gaming Revolution; A Complete Guide to Promotion and Regulation of Online Gaming w.e.f May 1, 2026
Goods and Services Tax : The law prohibits all real-money online games regardless of skill, marking a major shift from earlier legal precedents and reshapi...
RBI Payment and Settlement Systems Act, 2007 – FAQ
Fema / RBI : This explains why operating a payment system without RBI approval is prohibited under law. The framework ensures only compliant an...
OTP Failure on Tax Portal Delays Professional Tax Payments in Karnataka; Due Date Extension requested
Goods and Services Tax : The issue involves technical failures in the Professional Tax portal preventing payments. A request has been made to fix glitches ...
GST Billing Framework for Hotel / Resort with Restaurant declared as Specified Premises
Goods and Services Tax : The issue was classification of bundled hotel services under GST. It is clarified that naturally bundled services are taxed as com...
Latest News
ICSI Invites Stakeholder Feedback to Revise Company Secretary Course Syllabus
Company Law : The Institute has proposed syllabus changes to align with modern industry, regulatory, and technological needs. Stakeholders are i...
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...
Latest Judiciary
Retrospective tax notices issued under KMC Act was not valid
Corporate Law : The constitutional validity of Section 232B and the proviso to Section 180(2) of the Kolkata Municipal Corporation Act, 1980 was u...
No demand as EPF Scheme amendment to Para 27AA could not be imposed on exempted establishments without official notification
Corporate Law : Paragraph 27AA of the Employees' Provident Fund (EPF) Scheme could not be automatically imposed on establishments exempted under S...
Extended Limitation u/s 73(1) proviso of Finance Act was not invokable without wilful suppression
Service Tax : Extended period of limitation could not be invoked in the absence of fraud, suppression or wilful misstatement with intent to evad...
Biodegradable Claim Outside AAR Scope; GST Rate Depends on Classification
Goods and Services Tax : The ruling held that concessional GST rate applies only if bags qualify as biodegradable under the notification. It clarified that...
Online Coaching Not OIDAR as Human Intervention Dominates Service: AAR Rajasthan
Goods and Services Tax : The issue was whether online coaching qualifies as OIDAR services. The ruling held it does not, as significant human involvement m...
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
This explains why operating a payment system without RBI approval is prohibited under law. The framework ensures only compliant and vetted entities can handle financial transactions, safeguarding systemic integrity.
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.
