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Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

Introducing Liquidity Window facility for debt securities listings.
October 17, 2024   Circulars     SEBI

Smooth food trade between India & Bhutan: BFDA Health Cert replaces FSSAI compliance for approved exporters.
October 17, 2024   Circulars     Customs

UAE-India trade pact clarifies retrospective issuance of Certificates of Origin to avail duty benefits.
October 17, 2024   Circulars     Customs

Demystifying the Tax Dispute Resolution Scheme: Eligibility, Rates, Forms & Timelines Explained.
October 17, 2024   Circulars     Income Tax

Higher trading limits for equity derivatives: Brokers' overall position cap raised to max Rs. 7,500cr or 15% of market open interest.
October 17, 2024   Circulars     SEBI

Waiver of interest/penalty u/s 128A: Eligibility, process, payment of full tax, erroneous demands, transitional credits.
October 17, 2024   Circulars     GST

Amendment extends input tax credit availment period for 2017-21; allows rectification of wrongly restricted ITC demands.
October 17, 2024   Circulars     GST

Mandatory testing waived for cough syrup exports to select nations or from facilities approved by their regulators.
October 17, 2024   Notifications     DGFT

Govt exempts RBI payments from tax collection under Income Tax Act Section 206C(1F.
October 17, 2024   Notifications     Income Tax

Tax compliance rules updated: Enhanced reporting for non/lower TCS cases & credit transfer to assessable party.
October 17, 2024   Notifications     Income Tax

Employees can now share income details with employers for accurate TDS calculation.
October 17, 2024   Notifications     Income Tax

Revised tariff values announced for imports like crude palm oil, RBD oils, brass scrap, gold, silver & areca nuts.
October 17, 2024   Notifications     Customs

Streamlined registration for tax-exempt trusts/NGOs.
October 17, 2024   Notifications     Income Tax

Petition dismissed; no natural justice violation in show cause notice, detailed information provided.
October 17, 2024   Case Laws     GST

Statutory remedy of appeal takes precedence over writ petition, court exercises discretion.
October 17, 2024   Case Laws     GST

Tobacco-lime mixture undergoes manufacturing process, classifying it as "manufactured chewing tobacco" liable to 28% GST and 160% Compensation Cess.
October 17, 2024   Case Laws     GST

Taxpayer's plea for hearing by Local Committee on high-pitched assessment rejected.
October 17, 2024   Case Laws     Income Tax

Protective additions on partner's share disallowed after Settlement Commission's order.
October 17, 2024   Case Laws     Income Tax

Share capital hike, unsecured loans treated as cash credits; interest disallowance deleted.
October 17, 2024   Case Laws     Income Tax

Tribunal deletes TP adjustment on share application money; directs recomputation after considering AO's rectification order.
October 17, 2024   Case Laws     Income Tax

Job-worker manufacturing RMC at builder's site liable for excise duty; plant ownership irrelevant, relationship with material supplier key.
October 17, 2024   Case Laws     Central Excise

Soda ash manufacturer allowed CENVAT credit on input services for salt procurement from salt pans.
October 17, 2024   Case Laws     Central Excise

Interest on Pre-Deposit Amounts: Eligibility Dilemma Under Amended Excise Law Provisions.
October 17, 2024   Case Laws     Service Tax

Appeal allowed after settlement & payment; IRP entitled to CIRP costs; creditor to file withdrawal form with bank guarantee.
October 17, 2024   Case Laws     IBC

Condonation of Delay in Filing Appeal: Interpreting "Sufficient Cause" Doctrine.
October 17, 2024   Case Laws     IBC

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Unraveling the Mineral Rights Regime: The Supreme Court's Landmark Judgment
Navigating the Faceless Assessment Regime: A Judicial Perspective
Evidentiary Value of Statements Recorded During Income Tax Surveys: A Judicial Analysis
Faceless Assessment: Ensuring Compliance with Statutory Provisions
Faceless Assessment Mechanism: Jurisdictional Limits in Income Tax Proceedings
Reassessment Notices for AY 2013-14: Upholding the Doctrine of Limitation
Principles of Tax Fairness and Mens Rea: Quashes Penalty for Mere Technical Errors
Decoding the Mandatory Timelines: A Thorough Examination of the Income Tax Assessment Order Nullification
Expiry of E-Way Bill AND Mens Rea: Technical Violation Alone Insufficient for Penalty Imposition
Maintainability of Appeals: High Court Upholds Strict Interpretation of Limitation Provisions in GST Act
Stay of Tax Demand: Interpreting the Discretionary Power u/s 220(6) of the Income Tax Act
Interpreting "Technical Services" under Tax Treaties: A Comprehensive Analysis
Interpreting "Or": The Disjunctive Mandate for Personal Hearing in Tax Matters
Navigating the Registration Process u/s 80G: Insights from the ITAT Ruling
Ensuring Fair Proceedings: The Importance of Proper Notice Service in Income Tax Matters
Demarcating Authority: High Court Clarifies Jurisdictional Limits of GST Officers
Unraveling the Royalty Conundrum and DTAA: ITAT's Stance on Marketing and Reservation Fees
Royalty or Not? Decoding the Taxability of Marketing and Reservation Contributions under India-USA DTAA
Unraveling the Intricacies: Assessing a Political Party's Claim for Income Tax Exemption
Bogus Capital Gains and Accommodation Entries: Unraveling the Penny Stock Scam and Tax Evasion
Strict Interpretation of Exemption Provisions: Supreme Court's Ruling on Section 10B(8) of the Income Tax Act
Disallowance u/s 14A: Prospective or Retrospective Effect of the Amendment?
Navigating the Complexities of "Charitable Purpose" in Income Tax Exemptions
Cooperative Banks vs. Primary Agricultural Credit Societies: Implications for Section 80P Deduction
Exemption u/s 11: Condonation of Delay in Filing Form 10

More Notes

Notifications Notifications

IT

- Central Government specifies that no collection of tax shall be made under sub-section (1F) of section 206C of the IT Act on any payment received from the Reserve Bank of India.
October 16, 2024

IT

- Income-tax (Ninth Amendment) Rules, 2024.
October 16, 2024

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
October 15, 2024

IT

- Income-tax (Eighth Amendment) Rules, 2024.
October 15, 2024

IT

- Income-tax Amendment (Seventh Amendment) Rules, 2024.
October 15, 2024

FTP

- Amendment in import policy of parts of lighter Covered under CTH 9613 of Chapter 96 of Schedule -l (Import Policy) of ITC (HS) 2022
October 13, 2024

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 – 'District Legal Service Authority'
October 11, 2024

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 – ‘Real Estate Regulatory Authority, New Delhi’
October 11, 2024

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 – ‘Gujarat Water Supply and Sewerage Board’
October 11, 2024

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 – ‘State Load Despatch Centre Unscheduled Interchange Fund- West Bengal State Electricity Transmission Company Limited'
October 11, 2024

Co. Law

- Companies (Adjudication of Penalties) Second Amendment Rules, 2024.
October 9, 2024

CGST

- Specifies supply of metal scrap between registered person for TDS compliance
October 9, 2024

CGST

- Seek Amendment in Notification No. 5/2017- Central Tax, dated the 19th June, 2017 - Exemption from GST registration if entire supply is under RCM not applicable for A person engaged in the supply of metal scrap.
October 9, 2024

CGST

- Seeks to provide waiver of late fee for late filing of NIL FORM GSTR-7 (GST TDS Return) - Supersede notification No.22/2021-Central Tax dated the 1 June, 2021
October 8, 2024

CGST

- Central Government, notifies the special procedure for rectification of for Input Tax Credit Orders issued under Section 73, 74, 107, 108 which confirming demand for wrong availment of input tax credit.
October 8, 2024

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

SEBI

- Introduction of Liquidity Window facility for investors in debt securities through Stock Exchange mechanism
October 16, 2024

Customs

- Implementation of "Agreement" signed between FSSAI, Ministry of Health and Family Welfare, Government of India and Bhutan Food and Drug Authority (BFDA)
October 16, 2024

Customs

- Retrospective issuance of certificates of origin under India-UAE CEPA
October 16, 2024

SEBI

- Monitoring of position limits for equity derivative segment
October 15, 2024

GST

- Clarification of various doubts related to Section 128A of the CGST Act, 2017
October 15, 2024

GST

- Clarifying the issues regarding implementation of provisions of sub-section (5) and sub-section (6) in section 16 of CGST Act, 2017
October 15, 2024

Income Tax

- Guidance Note 1/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024
October 15, 2024

SEBI

- Corrigendum to Circular on Ease of Doing Business in the context of Standard Operating Procedure for payment of “Financial Disincentives” by Market Infrastructure Institutions (MIIs) as a result of Technical Glitch
October 14, 2024

SEBI

- Monitoring Shareholding of Market Infrastructure Institutions (MIIs)
October 14, 2024

DGFT

- Applicability of Para 4.08 (ii) of HBP in case of inputs being procured by Advance Authorisation Holders from Units located in SEZ
October 11, 2024

GST

- Clarification regarding the scope of “as is / as is, where is basis” mentioned in the GST Circulars issued on the basis of recommendation of the GST Council in its meetings
October 11, 2024

GST

- Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 54th meeting held on 9th September, 2024, at New Delhi
October 11, 2024

GST

- Clarifications regarding applicability of GST on certain services
October 11, 2024

SEBI

- Change in timing for securities payout in the Activity schedule for T+1 Rolling Settlement
October 10, 2024

SEBI

- Extension of timeline for implementation of SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75 dated June 05, 2024
October 10, 2024

More Circulars

News News, PIB

Assessing Inflation Targeting (Address delivered by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India - October 14, 2024 - at the High Level Conference “Central Banking at Crossroads” organised by the Reserve Bank of India as apart of commemoration of its 90th year at New Delhi, India)
October 17, 2024


CBDT Notifies Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and Enabling claiming TCS Credit of Minors in the Hands of Parents
October 17, 2024


Attention – Hard - Locking of auto-populated values in GSTR-3B
October 17, 2024


The cumulative overall exports during April -September 2024 is estimated at USD 393.22Billion, as compared to USD 375Billion in April-September 2023, with an estimated growth of 4.86%.
October 17, 2024


Repayment of ‘6.18% GS 2024’
October 16, 2024


Cabinet approves Minimum Support Prices (MSP) for Rabi Crops for Marketing Season 2025-26
October 16, 2024


Make quality a centrestage of industry, a default setting in product manufacturing: Shri Piyush Goyal
October 16, 2024


Cabinet approves additional instalment of three percent of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners
October 16, 2024


Central Banks and Financial Stability (Address by Shri Swaminathan J, Deputy Governor, Reserve Bank of India - October 14, 2024 - at the RBI@90 High Level Conference on “Central banking at Cross Roads” in New Delhi)
October 16, 2024


CCI approves the proposed acquisition of 24.91% shareholding in Future Generali India Insurance by Central Bank of India
October 16, 2024


Shri Piyush Goyal launches District Master Plan under PM GatiShakti for 27 aspirational districts
October 16, 2024


DPIIT announces relaxations in Quality Control Order for Cookware, Utensils, and Cans to enhance ease of doing business
October 16, 2024


4th Meeting of National Traders’ Welfare Board held in New Delhi
October 16, 2024


Second meeting of Joint Committee under India-UAE CEPA held
October 16, 2024


India to play a role in making telecom services and digital connectivity available to emerging economies: Shri Goyal
October 16, 2024


More News

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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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