The ruling clarifies that unaccounted stock discovered in surveys should be assessed as tax liability under Sections 73 and 74. It holds that Section 130 confiscation proceedings are not applicable in such cases.
This article explains how risk-based internal audit prioritises high-impact business areas over routine verification. It highlights how focusing on key risks improves efficiency and strengthens business controls.
Examines whether retrospective tax laws can validly alter past legal interpretations. The case highlights how constitutional limits prevent legislatures from rewriting judicially settled meanings under the guise of clarification.
Explains the complete process for filing appeals before GSTAT, including the three-month limitation period and mandatory pre-deposit requirements. Highlights that compliance with procedural rules is essential for admissibility and automatic stay of recovery.
The issue concerns differing tax treatment of single-member US LLCs in India and the US. The position clarifies that India taxes global income regardless of US classification, requiring proper reporting.
A clear guide explaining how both the 1961 and 2025 tax laws will coexist, and why professionals must apply each depending on the assessment year.
Explains how the 2026 amendment expands refund eligibility to input services and capital goods, correcting earlier restrictions that caused major cash flow issues.
This guide explains the legal requirements for GST TDS under Section 51 and Rule 66, including rates, thresholds, and applicability. It highlights that deductors must file GSTR-7 by 10th May 2026 and issue TDS certificates to suppliers.
Explains that merely filing GST returns does not ensure compliance, as errors in ITC claims, turnover, or classification can trigger scrutiny. It highlights how GST authorities rely on data analytics to detect mismatches.
Explains how the Court held that insolvency proceedings cannot be used as a pressure tactic for debt recovery. Even if default is proven, tribunals must consider broader circumstances before admitting cases.
