https://taxguru.in/goods-and-service-tax/gst-rule-42-43-reversal-input-tax-credit.html Clipped from: https://taxguru.in/goods-and-service-tax/gst-rule-42-43-reversal-input-tax-credit.html In the realm of Goods and Services Tax (GST), businesses navigate the intricacies of Input Tax Credit (ITC) and its reversal under
Income Tax Reassessment Requires valid service of Section 148 Notice
https://taxguru.in/income-tax/income-tax-reassessment-requires-valid-service-section-148-notice.html Clipped from: https://taxguru.in/income-tax/income-tax-reassessment-requires-valid-service-section-148-notice.html PCIT Vs Madhu Gupta (Delhi High Court) Introduction: A recent judgment by the Delhi High Court in the case of PCIT vs. Madhu
Application u/s 7 IBC Cannot Be Initiated Against a Struck-off Company: NCLT
Clipped from: https://www.taxscan.in/application-u-s-7-ibc-cannot-be-initiated-against-a-struck-off-company-nclt/349302/ The NCLT rules that struck off company not liable for action u/s 7 of IBC. The New Delhi Bench of the National Company Law Tribunal
Discard ITR Option: All You Need to Know
Discard ITR Option: All You Need to Know
Discard ITR Option: All You Need to Know
Clipped from: https://www.taxscan.in/discard-itr-option-all-you-need-to-know/347309/ By Manu Sharma – On November 28, 2023 10:47 am – 3 mins read The Income Tax Portal now allows users to discard the Income Tax Returns (ITRs) filed
Difference Between TCS and TDS: A Critical Analysis
Clipped from: https://www.taxscan.in/difference-between-tcs-and-tds-a-critical-analysis/349547/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Difference%20Between%20TCS%20and%20TDS:%20A%20Critical%20Analysis INTRODUCTION TDS stands for Tax Deducted at Source. It is the tax amount that the government collects directly from the recipient’s income immediately
GST Taxpayers Exceeding 5 crores AATO must Include 6-Digit HSN in E-invoices from Dec 15, 2023
Clipped from: https://www.taxscan.in/important-update-gst-taxpayers-exceeding-5-crores-aato-must-include-6-digit-hsn-in-e-invoices-from-dec-15-2023/349822/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Important%20Update:%20GST%20Taxpayers%20Exceeding%205%20crores%20AATO%20must%20Include%206-Digit%20HSN%20in%20E-invoices%20from%20Dec%2015,%202023 From December 15, 2023, the GST e-invoice system mandates a minimum 6-digit HSN code for taxpayers with an Annual Aggregate Turnover (AATO) exceeding
Service Tax Demand based on Form 26 AS from Income Tax Dept without Investigation is Invalid: CESTAT
Clipped from: https://www.taxscan.in/service-tax-demand-based-on-form-26-as-from-income-tax-dept-without-investigation-is-invalid-cestat/342057/ The Kolkata Bench of the Customs, Excise & Service Tax Appellate Tribunal(CESTAT) has held that service tax demand based on Form 26 AS from the
Important Update: E-way Bill System Issues Advisory on Verification of Transporter ID in E-way Bills
Clipped from: https://www.taxscan.in/important-update-e-way-bill-system-issues-advisory-on-verification-of-transporter-id-in-e-way-bills/341938/ The E-way bill system has issued an advisory on verification of transporter ID in E-way bills based on the queries received by the
Online Compliance Advisory: ITC Mismatch Resolution with GST DRC-01C
https://taxguru.in/goods-and-service-tax/online-compliance-advisory-itc-mismatch-resolution-gst-drc-01c.html Clipped from: https://taxguru.in/goods-and-service-tax/online-compliance-advisory-itc-mismatch-resolution-gst-drc-01c.html Introduction: As of November 14, 2023, the Goods and Services Tax Network (GSTN) has introduced a crucial feature to address discrepancies in Input
Understanding ITC Reversal: Rule 37(A) Compliance Guide
https://taxguru.in/goods-and-service-tax/understanding-itc-reversal-rule-37a-compliance-guide.html Clipped from: https://taxguru.in/goods-and-service-tax/understanding-itc-reversal-rule-37a-compliance-guide.html Introduction: On November 14, 2023, Team GSTN issued crucial information regarding Input Tax Credit (ITC) reversal obligations under Rule 37(A) of the CGST Rules,
NRI Property Purchase in India: Guidelines, Permissions & Procedures
https://taxguru.in/rbi/nri-property-purchase-india-guidelines-permissions-procedures.html Clipped from: https://taxguru.in/rbi/nri-property-purchase-india-guidelines-permissions-procedures.html Introduction: The acquisition of commercial or residential property in India by Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) is governed by
Notice for Reopening Assessment in respect of issue of Capital Gain issued in name of Deceased Person: ITAT directs readjudication
Clipped from: https://www.taxscan.in/notice-for-reopening-assessment-in-respect-of-issue-of-capital-gain-issued-in-name-of-deceased-person-itat-directs-re-adjudication/342856/ By Aparna. M – On November 15, 2023 6:00 pm – 2 mins read The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while directing the reassessment of the
RERA Definitions: Adjudicating Officer, Advertisement, Sale Agreements & Allottee
https://taxguru.in/corporate-law/rera-definitions-adjudicating-officer-advertisement-sale-agreements-allottee.html Clipped from: https://taxguru.in/corporate-law/rera-definitions-adjudicating-officer-advertisement-sale-agreements-allottee.html RERA – Important Definitions and References in all other Statutes Indeed, the real estate sector plays a pivotal role in addressing the
Timely Notice In GST Evasion Cases: Section 73(2) & Its Implications
https://taxguru.in/goods-and-service-tax/timely-notice-gst-evasion-cases-unveiling-section-73-2-implications.html Clipped from: https://taxguru.in/goods-and-service-tax/timely-notice-gst-evasion-cases-unveiling-section-73-2-implications.html Introduction: In the complex landscape of Goods and Services Tax (GST) laws in India, understanding the intricacies of notices, penalties, and timely compliance
Casual taxable person in GST – All You want to know
https://taxguru.in/goods-and-service-tax/casual-taxable-person-gst-all-you-want-to-know.html Clipped from: https://taxguru.in/goods-and-service-tax/casual-taxable-person-gst-all-you-want-to-know.html Casual taxable person Introduction: “Casual taxable person” means a person who occasionally undertakes transactions involving supply of goods or services or both
Cancellation, Suspension and Revocation of cancellation of GST Registration
https://taxguru.in/goods-and-service-tax/cancellation-suspension-revocation-cancellation-registration.html Clipped from: https://taxguru.in/goods-and-service-tax/cancellation-suspension-revocation-cancellation-registration.html Cancellation, Suspension and Revocation of Registration in GST Introduction: The registration granted under GST can be cancelled for specified reasons. The cancellation can
Composition Levy Scheme in GST- All You want to Know
https://taxguru.in/goods-and-service-tax/composition-levy-scheme-gst.html Clipped from: https://taxguru.in/goods-and-service-tax/composition-levy-scheme-gst.html Composition Levy Scheme under GST law The Composition Levy is an alternative method of levy of tax designed for small taxpayers whose
Inspection, Search, Seizure & Arrest under Goods & Services Tax Act
https://taxguru.in/goods-and-service-tax/inspection-search-seizure-arrest-goods-services-tax-act.html Clipped from: https://taxguru.in/goods-and-service-tax/inspection-search-seizure-arrest-goods-services-tax-act.html Inspection, Search, Seizure and Arrest 1. In any tax administration the provisions for Inspection, Search, Seizure and Arrest are provided to protect
GST Refunds- What you should Know
https://taxguru.in/goods-and-service-tax/gst-refunds-what-you-should-know.html Clipped from: https://taxguru.in/goods-and-service-tax/gst-refunds-what-you-should-know.html Refunds under GST Introduction: Timely refund mechanism is essential in tax administration, as it facilitates trade through release of blocked funds for
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