SC clarifies TOLA’s application to Income Tax Act post-April 2021, covering reassessment notice deadlines and procedural timelines. Notices beyond limits are void.
Chief Commissioner of Central Goods and Service Tax & Ors. Vs Safari Retreats Private Ltd. & Ors. (Supreme Court of India) The Supreme Court of India recently issued a landmark judgment interpreting Section 17(5) of the Central Goods and Services Tax (CGST) Act, which could significantly alter how businesses claim Input Tax Credit (ITC) on […]
Dearness Allowance (DA) for PSU employees for Q3 2024-25 increased by 2.9%, bringing the rate to 47.7%. Based on CPI data from June-August 2024.
Details of adjudication against Mrs. Anubama for violating Section 155 of the Companies Act, 2013, resulting in a penalty of ₹19,51,000.
NFRA reiterates that auditors shall understand their responsibility under CA 2013 and SA 600 with their concomitant responsibilities in related SAs such as SA 200, SA 220 (Revised), SA 230, SA 240, SA 300, SA 315 (Revised 2019), SA 320, SA 330, SA 450 and SA 701 towards obtaining sufficient and appropriate evidence in support of the auditor’s opinion on the group financial statements and carry out audit procedures accordingly.
September 2024 GSTN advisories on ITC reversal, Invoice Management System, GST return data archival, and notices without digital signatures.
Key tax changes from the July 2024 Budget effective October 1. Covers TDS rates, share buyback taxation, VSV 2.0, and other important reforms for taxpayers.
CBDT issues comprehensive guidelines for condonation of delay in filing returns claiming refunds or losses under Section 119(2)(b) of the Income-tax Act, 1961.
GST taxpayers for FY 2017-20 can avoid interest and penalties by paying the demanded tax by March 31, 2025, under the newly introduced Section 128A of the CGST Act.
Key GST compliance tasks for FY 2023-24 before filing October 2024 returns, including ITC, e-invoicing, reconciliations, and reverse charge mechanisms.
