On the basis of a specific complaint and careful data analysis, officers of the CGST Gurugram Commissionerate detected a case of fraudulent availment of ITC and consequent refunds of about Rs. 20 Crore in the name of 8 firms found to be non – existent Investigation conducted thus far has revealed the involvement of three persons. […]
Decision taken by ICAI Central Council after deliberations on the matter related to recent arrest of Chartered Accountants & other instances of ill- treatment of CAs by investigating authorities in Council Meeting held on 20th May 2022. The Institute of Chartered Accountants of India 20th May 2022 The matter related to recent arrest of Chartered […]
SC held that no IGST is payable on ocean freight under Reverse Charge Mechanism (RCM) for Cost, insurance, and freight (CIF) imports as Indian importer is liable to pay IGST on the ‘composite supply’, comprising of supply of goods and supply of services of transportation, insurance, etc. in a CIF contract; a separate levy on the Indian importer for the ‘supply of services’ by the shipping line would be in violation of Section 8 of the Central Goods and Services Tax Act, 2007
SC held that recommendations of the GST Council are not binding on the Union and States. It held that Recommendations of the GST Council to only have a persuasive value, particularly when interpreted along with the objective of the GST regime to foster cooperative federalism and harmony between the constituent units;
Get ready to file your tax return with confidence. Learn about the key points to keep in mind and make the process a breeze.
Analysis of Delhi HC Ruling on order passed under Section 148A(d) passed by order Delhi High Court in the case of Divya Capital One Private Limited Vs. ACIT, alleging income of more than Rs one lakh crore having escaped assessment.
Explore the mind-bending time travel concept of Avengers Endgame visualized through the lens of the Income Tax Act.
Kiran David Vs Assistant General Manager State Bank of India (Kerala High Court) The petitioners are aggrieved by the denial of education loan. The petitioner wanted to study Post Graduate Diploma in Management (Securities Market) in the National Institute of Securities Markets (NISM), Navi Mumbai. The petitioner submitted application for education loan of ₹7,30,000/- to […]
Stay informed about recent updates in GST till 18th May 2022. Learn about the impact of RBI’s surprise move to raise repo rate and CRR on inflation and lending rates.
Registrar of Companies in Rajasthan fines M/s EMBASSY INFRATECH INDIA LIMITED and its directors a total of 9 lakh rupees for failing to conduct minimum required four board meetings annually, violating Section 173 of Companies Act, 2013
