The Bombay High Court ruled that GSTAT can grant interim stay against recovery proceedings even without an express statutory provision. The decision confirms that appellate powers inherently include powers necessary to make the appeal effective.
The Karnataka High Court held that the two-year limitation under Section 54 of the CGST Act is mandatory. However, it condoned a six-month delay through writ jurisdiction because double taxation was undisputed and directed processing of the refund.
The standards explain how written representations and external confirmations help auditors obtain reliable evidence and support audit conclusions.
The paper explains how founder agreements allocate equity, define management responsibilities, and establish exit mechanisms. It highlights their role in reducing disputes and creating governance stability in venture-backed startups.
Publishers must continue complying with annual filing, record maintenance and reporting requirements even after obtaining a PRGI registration certificate.
Despite withdrawal of many tax benefits under Section 115BAC, official duty-related allowances remain exempt to the extent of actual expenditure incurred and substantiated.
The GST law provides a limited window to rectify reporting errors relating to FY 2025-26. Timely corrections can help businesses avoid ITC loss, interest liability, and future disputes.
Tax auditors must now report all purchases and sales of unquoted shares under Clause 47 of Form 26. The key takeaway is increased scrutiny of transactions involving differences between FMV and transaction value.
AI is reshaping internal audit by replacing manual testing with continuous risk monitoring and automated analysis. The key takeaway is that auditors can focus more on strategic risk management and value creation.
Recent NCLT decisions indicate that the absence of specific procedural rules may not prevent conversion from a company limited by shares to a company limited by guarantee where Section 18 substantively permits such conversion.
