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

Shareholding Norms for Stock Exchanges, Clearing Houses & Depositories.
October 15, 2024   Circulars     SEBI

Regulator clarifies procedures for penalizing market entities over technical snags, enhancing oversight.
October 15, 2024   Circulars     SEBI

Regularizing Past GST Payments: Council Embraces "As Is" Approach.
October 15, 2024   Circulars     GST

GST rates revised for snacks, AC units, car seats; effective prospectively.
October 15, 2024   Circulars     GST

Universities Hike Fees, Helicopter Rides Costlier: GST Shocker for Education and Aviation.
October 15, 2024   Circulars     GST

Refund regularization of IGST, compensation cess on exports allowed after reassessment.
October 15, 2024   Circulars     GST - States

Data hosting services by Indian providers to overseas cloud firms qualify as export of services.
October 15, 2024   Circulars     GST - States

Clarifying ITC eligibility for demo vehicles used by auto dealers.
October 15, 2024   Circulars     GST - States

Advertising agencies' export benefits clarified: Global clients outside India's tax net.
October 15, 2024   Circulars     GST - States

Unlicensed moneylender can face cheque bounce case despite state laws.
October 15, 2024   Case Laws     Indian Laws

Insolvency resolution plan approval extinguishes all outstanding tax dues. Creditors bound by resolution.
October 15, 2024   Case Laws     VAT / Sales Tax

Invoicing technicalities can't deny legit input tax credit refunds.
October 15, 2024   Case Laws     Central Excise

Clarity on CENVAT Credit Eligibility for Capital Goods, Foundation Works, and Civil Structures.
October 15, 2024   Case Laws     Central Excise

Excise demands rejected due to lack of evidence, retracted statements.
October 15, 2024   Case Laws     Central Excise

Right to claim GST refund for service tax paid under reverse charge before GST regime upheld.
October 15, 2024   Case Laws     Service Tax

Improper service tax demand sans authentic proof, appellate order upheld.
October 15, 2024   Case Laws     Service Tax

Provident Fund & Gratuity dues must be paid by Resolution Applicant as per IBC Clause.
October 15, 2024   Case Laws     IBC

Auditor penalized for non-cooperation, misleading claims on inaccessibility.
October 15, 2024   Case Laws     Companies Law

Customs seized passenger's gold; appeal dismissed on monetary limits.
October 15, 2024   Case Laws     Customs

Customs valuation dispute: declared values rejected, re-determined using importer's data.
October 15, 2024   Case Laws     Customs

Duty-free for Router Line Cards: Tribunal Overrules Customs on Import Dispute.
October 15, 2024   Case Laws     Customs

Customs undervaluation dispute: Transaction value rejected despite evidence; orders set aside for redetermination.
October 15, 2024   Case Laws     Customs

Penalty on assessee for concealing income by not adopting section 50C provisions for computing capital gains.
October 15, 2024   Case Laws     Income Tax

Is a statutory body exempt from tax on interest income akin to the State?
October 15, 2024   Case Laws     Income Tax

Inventory valuation dispute: VAT exclusion upheld, AO's addition overturned.
October 15, 2024   Case Laws     Income Tax

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

- 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

CGST

- The Central Government notifies the respective date by which payment for the tax, as per the notice, statement, or order, must be made to qualify for a waiver of interest and penalties under Section 128A of the CGST Act.
October 8, 2024

CGST

- Central Goods and Services Tax (Second Amendment) Rules, 2024.
October 8, 2024

IGST Rate

- Services on which tax will be payable under reverse charge mechanism (RCM) under IGST Act - Residential Property - Seeks to amend in Notification No. 10/2017-Integrated Tax (Rate), dated the 28th June, 2017
October 8, 2024

UTGST Rate

- Services on which tax will be payable under reverse charge mechanism (RCM) under UTGST Act - Seeks to amend Notification No. 13/2017-Union Territory Tax (Rate), dated the 28th June, 2017
October 8, 2024

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

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

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

IBC

- Extension of time for filing Forms to monitor voluntary liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder.
October 9, 2024

IBC

- Extension of time for filing Forms to monitor liquidation processes under the Insolvency and Bankruptcy Code, 2016, and the regulations made thereunder
October 9, 2024

SEBI

- Specific due diligence of investors and investments of AIFs
October 8, 2024

DGFT

- Provision for Import/ Re-import of "Exhibits and Sample"
October 7, 2024

More Circulars

News News, PIB

Important advisory for GSTR-9/9C
October 15, 2024


Attention - Advisory on IMS
October 15, 2024


Union Finance Minister Smt. Nirmala Sitharaman to leave tonight for an official visit to Mexico and USA from 17th to 26th October 2024
October 15, 2024


Auction for Sale (re-issue) of (i) ‘7.02% GS 2031’, (ii) ‘7.23% GS 2039’ and (iii) ‘7.09% GS 2054’
October 15, 2024


DRI busts a factory illegally manufacturing Mephedrone in Meghnagar, Jhabua, MP; 112 kg Mephedrone worth Rs. 168 crore seized; four persons arrested
October 15, 2024


Advisory for Taxpayers: New GST Provision for Metal Scrap Transactions
October 14, 2024


National Electricity Plan (Transmission) launched by Cabinet Minister for Power and Housing & Urban Affairs
October 14, 2024


38 companies apply for PLI Scheme for White Goods (ACs and LED Lights) in the 3rd Round of Application Window
October 14, 2024


HAL's Maharatna Status: India’s Growth Towards Aerospace Industry
October 14, 2024


Central Banking at Crossroads (Keynote Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - October 14, 2024 - at the RBI@90 High-Level Conference organised by the Reserve Bank of India at New Delhi)
October 14, 2024


India-EU way trade can grow exponentially with mutual understanding and cooperation: Shri Piyush Goyal, Commerce and Industry Minister
October 14, 2024


PM GatiShakti National Master Plan completes 3 years of transforming India's Infrastructure landscape
October 14, 2024


PM Gati Shakti: Transforming India's Infrastructure and Connectivity
October 14, 2024


A Pathway to Professional Growth: PM’s Internship Scheme
October 14, 2024


Department of Commerce hosts Industry Interaction Meet in Uttarakhand; Encouraging Export Growth and Global Competitiveness
October 11, 2024


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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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