Provisional attachment under GST Law NOT on the basis of “reasons to believe” – Judgement by Supreme Court
The Supreme Court in recent judgment in the case of Radha Krishnan Industries (Appeallant) v. State of Himachal Pradesh…
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Have you received a notice from GST officer asking for reversal of ITC availed correctly
There are various instances wherein GST department issues show cause notices asking purchaser to revise the ITC availed on…
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Important provisions related to restrictions on cash transactions under Income Tax Act
1. Taking or accepting certain loans, deposits and specified sum [Section 269SS] No person is permitted to accept…
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Provisions regarding issue of fake invoice under Income Tax
Finance Act 2020 introduced a penalty provision to curb malpractices of issuing fake invoice. It introduced Section 271AAD…
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Pre pack mechanism for MSME Insolvency with default up to 1 Cr.
The central government has promulgated an Insolvency and Bankruptcy Code (Amendment) Ordinance allowing the use of Pre packs…
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Amendment of Importer-Exporter Code (IEC) related provisions under Foreign Trade Policy, 2015-2020
Every year from April to June even if all details of IEC remain same all existing holders have…
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Supreme Court held that no TDS is applicable for amount paid to foreign supplier for use of software through EULA
The Supreme Court held in the case of Engineering Analysis Centre of Excellence Pvt. Ltd. that tax deductible at…
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Whether TDS to be deducted on reimbursement of expenses
1. Answer to question No.30, provided in Circular No.715, dated 8.8.1995, issued by the CBDT [215 ITR…
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Trusts to be re-registered U/S 12AB of Income Tax Act
All existing charitable trusts registered U/S 12A, Section 12AA, Section 10(23C) and Section 80G of the Income Tax…
