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Section 69A of the income tax act could merely be invoked in which the books of accounts are been maintained, Delhi High Court mentioned. The bench consisting of Justice Rajiv Shakdher and Justice Girish Kathpalia noted that the individual in question, a non-resident Indian, derives income in India from bank interest and income tax refunds […]
A senior tax consultant CA Kirti Joshi addressed filing GST returns presents the final opportunity to rectify any errors caused during the annual return for the year 2022-23. It is crucial to consider the income tax return while submitting GST returns, as both departments are now exchanging vital information. She shared these insights during a […]
Several infrastructure firms are poised to pursue legal action following the Goods and Services Tax Council’s decision to impose an 18% GST on corporate guarantees provided by holding companies to their subsidiaries. Reports suggest that numerous major infrastructure companies are gearing up to lodge writ petitions in the Supreme Court, aiming to challenge and review […]
The electronic invoicing method for the Goods and Services Tax (GST) has been amended to make it mandatory for taxpayers with an Annual Aggregate Turnover (AATO) of Rs. 5 crores and overhead to include a minimum 6-digit Harmonized System of Nomenclature (HSN) code in their electronic invoices. This update will take effect starting from December […]
The Punjab and Haryana Court has provided temporary relief to BMW India regarding a show cause notice issued by authorities concerning the goods and services tax (GST) on expatriate salaries reimbursed to parent companies. The court has instructed BMW India to submit a clarification as a response to the show cause notice, while also directing […]
Bookkeeping may appear effortless and less appealing compared to owning and operating a small company. However, it is a crucial procedure that must be followed meticulously to ensure the sustainability and success of your business. It is important to be aware of the pitfalls that can jeopardize your financial well-being and strive to avoid the […]