Comparison of GST composite and mixed supply with IFRS 15 bundled performance obligations, focusing on tax rate determination and revenue recognition principles.
The new Income-tax Act, 2025 replaces the 1961 law and introduces structural changes such as a single “Tax Year.” Key updates include revised return deadlines, higher STT, and new rules for buybacks and deductions.
Courts have held that lump-sum alimony received under a divorce settlement is a capital receipt outside the scope of taxable income. However, periodic maintenance payments remain taxable in the recipient’s hands.
The Commission directed the State government to review wetlands and possible Ramsar candidates after concerns were raised about encroachments, pollution, and environmental risks.
Form MGT-8 is a certification issued by a practicing Company Secretary verifying the accuracy of a company’s annual return and compliance with the Companies Act, 2013. It ensures transparency, accountability, and regulatory compliance for larger companies.
Educational institutions with annual receipts below Rs. 5 crore can claim exemption under Section 10(23C)(iiiad) without prior approval. The provision allows direct exemption if the institution exists solely for educational purposes.
The Karnataka High Court held that non-submission of LUT/Bond prior to export is a curable procedural lapse. Refund claims cannot be rejected solely on that ground and must be reconsidered.
This article explains how technology, ESG considerations, and digital business models are transforming insolvency practice under the IBC. It highlights the need for modern valuation, governance accountability, and tech-driven insolvency processes.
GST law allows appeals within three months with a maximum condonation of one additional month. Courts have largely held that delays beyond 120 days cannot be condoned except in rare circumstances.
The High Court held that prolonged failure to file GSTR-3B returns and pay GST can justify action under Section 74. Delayed payments from clients do not excuse statutory GST compliance.
