Competent Authority to release goods & vehicle on furnishing of bank guarantee for tax & penalty by the assessee
Where Competent Authority had detained goods of assessee under transport as well…
Assessee to file reply for confiscation notice issued by authority after payment made for release of goods & vehicle
Where Competent Authority had detained goods of assessee under transport as well…
Remuneration paid to directors by the company attracts GST on reverse charge basis
Consideration paid to the director for the supply of services to the…
Fresh order of provisional attachment in GST can be issued by appropriate authority after the expiry of time period
Section 83 does not provide for extension of order for provisional attachment…
Tax Invoice, Debit Note and Credit Note under GST
An invoice does not bring into existence an agreement but merely records…
HC upholds constitutional validity of Sec. 234E imposing fee for late filing of TDS/TCS statements
A provision can be held unconstitutional only when the legislature was incompetent…
Commercial principles to be applied for adjustment of brought forward loss against current year income
The aim of any businessman is to earn profits. However, if by…
Understanding New Equalisation Levy & TDS on e-Commerce Transactions with Practical Illustrations
With the expansion of information and communication technology, the supply and procurement…
CIT couldn’t cancel trust’s registration just by referring to amended provision of Sec. 2(15)
Power of cancellation of registration can be exercised by Commissioner, where Commissioner…
SC issues guidelines for functioning of Courts through video conferencing during Covid-19 pandemic
Article 142 Directions: All measures shall be taken to reduce the need…
Assessee punishable for issuing invoice without actual supply to be released on bail subject to certain conditions
Where assessee for offence punishable under section 132(1)(b) was in custody since…
When is the New Personal Tax Regime u/s 115BAC Beneficial?
The new FY 2020-21 corresponding to the AY 2021-22, has already started…
Applicability of the Finance Bill 2020 on travel companies
The Finance Bill introduced a new Section (194-O) which requires every e-commerce…
Developments in Insolvency and Bankruptcy Laws to Save Debt-Laden Companies
The changing market dynamics, from crashing stock markets to restaurants, airlines and…
Offer of unsecured fully Convertible debentures couldn’t be considered as private placement SAT
Where offer of unsecured Fully Convertible Debentures (FCDs) was made only to…
Bail rejected as assessee had shown bogus bills & wrongly claimed relief of more than Rs. 80 crore
Where assessee for offence punishable under section 132 was in custody and…
GST on Mobilization Advance
Normally, mobilisation advance payment is made to a contractor for initial expenditure…
HC quashed confiscation order as it was issued without giving any opportunity of being heard to the assessee
Where Competent Authority had detained goods of assessee under transport and passed…
Changes in Foreign Trade Policy w.e.f. 1-4-2020
The Foreign Trade Policy – FTP 2015-20 was expiring on 31-3-2020. However,…
Double Taxation of Employer’s Contribution in NPS (National Pension Scheme) by the Finance Act, 2020
Contribution in NPS (National Pension Scheme) account of the employee is includible…