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Search results for: Section 74

Kerala HC's Order for Penuel Nexus Pvt. Ltd.

Kerala HC: GST Section 107 Manages Inbuilt Mechanism and Exempts Limitation Act from Application

Section 107 of the CGST Act would be the inbuilt procedure and would exclude the application of the limitation act, the Kerala High Court ruled. The act of limitation shall be subjected to be applied merely when the same would get extended to a certain law, the bench of Justice C.S Dias witnessed. The provisions […]

Quick to Understand GST Section 17

GST Section 17: ITC Apportionment & Ineligible Tax Credit

What is GST Section 17? ITC (Input Tax Credit) Apportionment and Blocking of Ineligible GST Credits are covered in Section 17 of the CGST Act, 2017. GST was implemented to prevent cascading taxes and to ensure a consistent flow of input tax credits with the complete supply chain. The primary and foremost strength of the […]

A Quick Guide to Section 339 of Companies Act 2013

All About Section 339 Under Companies Act with Penalties

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 […]

Brief Details of Income Tax Section 54B

All About I-T Section 54B of Capital Gain on Land Transfer

Discussion about section 54B of the Income Tax Act, 1961 w.e.f. AY 1970-71  Capital gain on the land transfer utilized for agricultural purposes does not get levied in some cases. Latest Update 54B. (1) (w.e.f. AY 1974-75) as per the provisions of sub-section (2), (w.e.f. AY 1988-89) in which the capital gain has produced through […]

Delhi ITAT's Order Related to Penalty U/S 271(1)(c)

ITAT Delhi Removes Penalty Without Noting Charge in the Tax Notice U/S 274

The Income Tax Appellate Tribunal (ITAT), Delhi bench headed via Mr Challa Nagendra Prasad, Judicial Member has discarded the imposition of penalty under section 271(1)(c) without citing a specific charge in the notice issued under section 274. The petitioner, Mr Atul Kumar Bansal has furnished a petition with respect to the confirmation of the imposition […]

Madras HC's Order for M/s. Anantham Silks

GST: HC Deletes Order Over Barred from Hearing Opportunity U/S 74(1)

The Madurai Bench of Madras High Court headed by Mr. Justice M. Nirmal Kumar has refused the assessment order issued without delivering a proper chance for a personal hearing under section 74(1) of the Goods and Service Tax Act. The applicant, M/s. Anantham Silks, trading of textiles and garments. At the time of investigation, the […]

Proper Officer Definition Amendment Via GST Circular No.169

CBIC GST Circular No.169 to Amend Proper Officer Means U/S 73 & 74

The Central Board of Indirect Taxes and Customs (CBIC) has given a GST circular No.169/2022 for the revision of sections 73 and 74 of the Central GST Acts. Vide GST Notification No. 02/2022-Central Tax on 11th March 2022, para 3A is been inserted in the Notification No. 2/2017-Central Tax on 19th June 2017, to empower […]

Madras High Court Judgment for M/s. V.R.S. Traders

Madras HC Orders Dept for Issuing GST DRC-1 Notice U/S 74(1)

The Madras High Court has held that the DRC-01 notice beneath Section 74(1) of the CGST Act should be given prior to passing the assessment order. Justice R. Suresh Kumar remitted the case to the respondent/department for further consideration and directed the department to issue a DRC-01 notice to the petitioner and important orders would […]

New Amendments for Corporate Social Responsibility Policy

Latest Changes in CSR i.e. Section 135 of Companies Act 2013

The MCA department has notified new rules namely Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022 whereby the department has clarified some of the provisions and also provided a revised format of CSR Annexure. The new rules have initiated new prerequisites like impact assessment of CSR contribution, the involvement of International Organisations for the purpose […]

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