The issue highlights ITC reversal when suppliers fail to deposit GST despite buyer compliance. The key takeaway is that courts require proof of genuine transactions but offer relief to bona fide buyers.
This article explores how the internet has transformed organized crime from local syndicates into global cyber networks. It highlights the shift to digital tools like cryptocurrency and encryption, making crime more scalable and harder to detect.
Simultaneous tax disputes before domestic courts and international tribunals can produce conflicting outcomes. The article proposes binding arbitration and legal coordination to resolve the conflict.
The case clarifies that capital gains tax arises upon execution of a registered sale deed, even if payment is not received. It highlights that the right to receive consideration is sufficient to trigger tax liability.
The provision mandates filing of Form 101 only when directed by the Assessing Officer. The rule ensures independent and accurate valuation of inventory through a Cost Accountant, impacting taxable income.
Form 130 is essential for claiming TDS credit on salary, pension, and interest income. The ruling mandates issuance through TRACES for validity. This ensures transparency and proper tax credit reporting.
Form 129 allows payers to apply for determination of the taxable portion of payments to non-residents. It ensures TDS is deducted only on the amount actually chargeable to tax, preventing excess deduction.
Form 128 allows taxpayers to apply for reduced or nil tax deduction or collection under the Income-tax Act, 2025. It helps avoid excess tax deduction and improves cash flow management.
The issue concerns exemption from TCS on purchase of specified goods. The rule allows exemption where goods are used for manufacturing and not trading. The key takeaway is proper declaration enables tax relief.
Form 126 replaces Forms 15C and 15D to streamline applications for nil TDS certificates. It applies to eligible non-resident entities operating through branches in India and ensures tax deduction aligns with actual liability.
