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The late return could not get submitted post lapse of 1 year from the finish of the assessment year (AY), the income tax appellate tribunal (ITAT), Jodhpur Bench. The stated observation was made by the Jodhpur ITAT at the time when the petition was preferred before it via the taxpayer as against the order of […]
What is Section 16 Under CGST Act? Section 16 of CGST ACT 2017 is concerned with the Input Tax Credit mechanism, which permits the assessee to offset the GST Input Tax Credit with the GST Output Tax Liability. The same shall assist in preventing the cascading effect of taxes and promote a seamless flow of […]
In a recent ruling, the Single bench of Justice Manoj Kumar Tiwari rendered that the applicant would be required to pay the outstanding dues of the Goods and Services Tax (GST). The petitioner filed the writ case seeking relief after the GST State Department cancelled his GST registration. The petitioner requested that a writ, order, […]
In a recent ruling, the Gujarat Appellate Authority for Advance Ruling (GAAAR) held that 18% Goods and Services Tax (GST) is pertinent to the services supplied via the sub-sub-contractor to sub-contractors. M/s Shreeji Earth Movers (sub-sub-contractor), the petitioner who is the work contractor and operates and performs the composite supply of works contract as specified […]
The transfer or sale of one of the independently running business divisions draws an 18% GST, Karnataka Authority for Advance Ruling (AAR) retained. The transaction of transfer or sale of one of the independents who is administrating the business divisions as a whole, the two-member bench of M.P. Ravi Prasad and Kiran T. Reddy witnessed […]
Due to underreporting of income on tax returns compared to the Annual Information Statement for the fiscal year 2019–20, the income tax office has reportedly identified some 68,000 instances of e-verification. The e-verification technique comprises notifying taxpayers of any anomalies between their financial activity and the Income Tax Returns filed. In around 56% of the […]
The other surcharge obtained via open-access consumers under section 42 of the electricity act 2003 shall get taxed under the GST act, Karnataka Authority for Advance Ruling (AAR) held. The two-member bench of M.P. Ravi Prasad and Kiran Reddy T. found that Chamundeshwari Electricity Supply Corporation Limited could not be regarded as a “governmental authority” […]
According to a recent ruling by the Tamilnadu Authority for Advance Ruling (AAR), bus bodybuilding activities are subject to an 18% Goods and Service Tax. The proprietrix company Royal Coach Builders, which specializes in producing bus bodies, builds the bodies over the chassis that the client supplies in accordance with their specifications. On the question […]
Section 339 of the Companies Act 2013 is a critical law that deals with unfair business practices in India. Simple to Understand Section 339 of the Companies Act Section 339 of the Companies Act 2013 (hereinafter referred to as “the Act”) is a significant clause that addresses India’s unscrupulous business practices. Any shareholder, officer, or […]
