The Supreme Court clarifies ITC on commercial properties under CGST, applying the functionality test to determine if a building qualifies as “plant or machinery.”
Banking Laws (Amendment) Bill 2024 introduces successive and simultaneous bank deposit nominations, raising concerns over complexity, legal conflicts, and role of nominees vs. heirs.
Discover cost-saving strategies for material costs in manufacturing through efficient cost records, audits, and reporting systems. Control costs at procurement, storage, and usage stages.
Explore downstream investment in India, including definitions, requirements, and reporting obligations for foreign investors through Indian entities.
Learn about the essential clauses of the Memorandum of Association (MOA) that define a company’s legal and operational framework, and their implications.
Explore the Bombay High Court ruling on reassessments under the Income Tax Act, clarifying jurisdiction between JAO and FAO in the Hexaware Technologies case.
Explore how new GST Invoice Management System (IMS) impacts businesses, handling invoice disputes, input tax credit and compliance challenges under GST.
Supreme Court clarifies ITC eligibility on construction for immovable properties, outlining exceptions and implications for businesses in the Safari Retreats case.
Supreme Court ruling clarifies that buildings can qualify as ‘plant’ under Section 17(5)(d) of CGST, allowing ITC if essential for service provision.
Learn how the new GST Invoice Management System (IMS) improves ITC reconciliation, enhances compliance, and streamlines invoicing processes for businesses from October 2024.
