The Supreme Court held that CIRP can run simultaneously against both a corporate debtor and its guarantor under the IBC, affirming the co-extensive liability principle.
The article explains that statements in GST notices are only allegations until supported by evidence. It highlights that tax demands must be based on verifiable facts rather than assumptions.
Residential status under Section 6 determines whether a taxpayer is liable for global income or only Indian-source income. The rules classify taxpayers as Resident, RNOR, or Non-Resident.
The taxability of grants under GST depends on whether the funding represents consideration for a supply. If a grant involves contractual deliverables or obligations, it may be treated as taxable consideration.
Section 74A replaces the earlier Sections 73 and 74, creating a unified framework for tax recovery in cases of short payment, erroneous refunds, and wrongful ITC. The provision simplifies GST enforcement with clear timelines, proportionate penalties, and incentives for voluntary compliance.
Tax loss harvesting allows investors to sell loss-making shares to offset capital gains and reduce tax liability. This strategy helps optimize taxes while maintaining long-term investment positions.
सुप्रीम कोर्ट ने स्पष्ट किया कि अपील के दौरान जमा प्री-डिपॉजिट की वापसी सामान्य जीएसटी रिफंड नहीं है। इसे धारा 107(6) और 115 के तहत विशेष प्रक्रिया से ब्याज सहित लौटाया जाना चाहिए।
The Karnataka High Court ruled that refund of accumulated ITC under Section 54(3)(ii) cannot be denied merely because the input and output supplies are identical. The Court clarified that the law does not require comparison of principal input and output tax rates.
The Finance Bill 2026 proposes allowing taxpayers to file an Updated Return even after receiving a reassessment notice under Section 148. This move aims to reduce litigation by enabling voluntary disclosure and tax payment through a structured compliance mechanism.
Companies often assume that approval of Form INC-22 completes a registered office change. However, the law mandates Regional Director approval and additional filings, making INC-22 only the final step in the process.
