The article highlights concerns over indefinite withholding of GST refunds under Section 54(11) due to absence of statutory timelines. It proposes periodic review and reauthorization mechanisms to balance taxpayer rights and revenue protection.
The Andhra Pradesh High Court held that refund arising from an unconstitutional GST levy carries a constitutional right to interest. The Court ruled that the State must compensate taxpayers for wrongful retention of money.
The article explains common GST audit objections relating to ITC, reverse charge liability, and turnover mismatches. It highlights that proper reconciliations, documentary evidence, and judicial precedents may help avoid demands and penalties.
The Allahabad High Court observed that criminal case delays are caused not only by judicial officers but also by inadequate infrastructure, police non-cooperation, and forensic deficiencies. The Court issued multiple reform directions while rejecting a bail plea.
The article explains that each crypto card transaction is treated as a taxable transfer of virtual digital assets under Indian tax law. It highlights the need for proper reporting, record-keeping, and tax planning for 2026 filings.
Credit card offers explained with 7 types and evaluation tips. Learn to compare rewards, fees, and benefits before applying.
The Income-tax Act, 2025 replaces old Sections 68 to 69D with a simplified sequential structure under Sections 102 to 106. The changes aim to improve clarity while retaining existing tax liabilities on unexplained income and assets.
LMPC Compliance regulates packaging, labeling, and sale of packaged commodities under the Legal Metrology framework in India. Businesses must follow mandatory declaration and registration requirements to avoid penalties and customs issues.
The dispute examines whether social commerce platforms must collect TCS under GST even when customer payments are handled directly by resellers. The case could redefine compliance obligations for decentralized e-commerce businesses.
SEBI has proposed wide-ranging amendments to the Buy-Back Regulations, including revival of open market buy-backs and removal of mandatory Merchant Bankers. The reforms aim to simplify compliance while strengthening investor protection measures.
