The scheme allows companies to file pending annual returns with just 10% additional fees. It offers a cost-effective opportunity to regularise compliance and avoid penalties.
Courts differ on validity of multi-year GST SCNs under Sections 73 and 74. Issue referred to larger bench; legal position remains unsettled.
The amendment introduces a new category of IFSC-based LLPs with specific regulatory provisions. It enables foreign currency operations and aligns LLPs with global financial practices.
The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows that structured allowances and deductions can bring taxable income to zero.
The ruling clarifies that unverified excel sheets seized from third parties cannot justify additions without corroborative evidence. The Tribunal stressed that assumptions cannot replace proof in tax proceedings.
The Court held that arrest under GST requires clear evidence of fraudulent intent and active involvement. Mere association with disputed transactions is insufficient. The key takeaway is that mens rea is essential before invoking arrest provisions.
This guide explains the legal steps for issuing share certificates after incorporation. It highlights timelines, board approvals, and compliance requirements. The key takeaway is that timely issuance and proper documentation are mandatory.
This guide explains GST rates, composition scheme eligibility, and new hotel tariff slabs. It highlights how ITC restrictions and tariff thresholds impact tax liability. The key takeaway is to choose schemes based on overall tax efficiency, not just lower rates.
The Court held that genuine errors in returns can be corrected despite statutory deadlines. Technical timelines cannot override accurate tax reporting.
Startups must obtain BIS certification for regulated products under mandatory Quality Control Orders. Compliance ensures legal operations and enhances customer confidence.
