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Section 16(4) of the Goods and Services Tax (GST) is the attractive provision permitting assessees to avail the ITC lessening the cascading effect that is in the VAT regime which came with the influential catches and setbacks levied in the form of the conditions to be fulfilled transferring the vested ITC nature to a conditional […]
The Goods and Service Tax (GST) Act was inaugurated at midnight on July 1, 2017. This legislation’s primary objective is to provide a framework for imposing and collecting taxes on the intra-state supply of goods or services, or both, by the central government and related matters. Under the GST Act of 2017, 13 distinct types […]
Some taxpayers who get the stay granted by the Appellate Tribunal for Forfeited Property (ATFP) may encounter shocking news in the coming weeks. Acting as a semi-judicial authority, The income tax department is trying to abort the stay permitted to the taxpayers by Appellate Tribunal.
The Supreme Court on 4 February 2019 has recently issued the notice under which now the taxpayers would be asked to file the income tax returns with linking PAN with Aadhaar mandatorily.
The recent action of Supreme Court in regard sending notices to Ultratech Cement Ltd. for credit reversal is an indication of gazing on another manufacturer.
In a recent crackdown on the central government, the supreme court has seen a rise in cases where the central government is one of the parties involved in the case.
On Friday (May 17) the Supreme Court kept a rule issued by the Institute of Chartered Accountants Of India (ICAA) restricting Chartered Accountants from accepting more than the “specified number of tax audit assignments” (at present, the upper limit is set at 60) in a fiscal year. A bench of Justices BV Nagarathna and Augustine […]
A petition contesting the levying of the GST on the transfer of development rights within joint development agreements between realty developers and landowners has been considered by the Supreme Court of India. The court in the case has furnished the notices before the Union government, GST Council, and Central Board of Indirect Taxes and Customs […]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled that as the taxpayer was a non-resident therefore the entire tax ought to be deducted at source on payment made via the payer to it, and no question was there for the advance tax payment by the taxpayer; consequently, no interest Under Section 234B can […]
