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According to the Delhi Bench of the Income Tax Appellate Tribunal (ITAT), the assessing officer was not justified in taking severe measures and rejecting audited books of accounts based only on general observations that photocopies of the bills had been supplied in place of the original bills. Anubhav Sharma, a judge, and Pradip Kumar Khedia, […]
The Hon’ble Kerala High Court in Pappachan Chakkiath v. Assistant Commissioner & Anr. [WP(C) NO. 816 of 2023 dated January 11, 2023] ruled that if the time restrictions for issuing the order under Section 73(10) of the Central Goods and Services Tax Act, 2017 (“the CGST Act”) for the Fiscal year 2017-18 is postponed till […]
2% TDS is deductible on common area maintenance charges, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) stated. The two-member bench of C.M. Garg (Judicial Member) and Pradip Kumar Khedia (Accountant Member) revealed that the common area maintenance charges were not counted under the actual rent filed to the owner through the taxpayer […]
Finance Minister Nirmala Sitharaman, while presenting Union Budget 2021 referenced Rabindranath Tagore and stated that ‘faith is the bird that senses the light and sings while the morning is still black’. As another union budget release approaches, the market and residents remain hopeful and await budget pronouncements with bated breath, under the shadow of another […]
Before the Union budget, a suggestion has been incurred by the banking sector via the Indian Banks’ Association (IBA), to the Union finance ministry on direct tax along with the elimination of Section 194N of the Income Tax Act. Tax deduction at source (TDS) as per section 194N is needed to be executed when the […]
The V2 portal is Version 2 of the MCA portal, which was used to file numerous forms pertaining to corporations and limited liability partnerships. LLP Solutions have been decommissioned on the V2 portal and relocated to the V3 portal. The MCA is in the process of updating the current portal version from Version 2 to […]
The Chhattisgarh Authority for Advance Ruling (AAR) ruled that the supply of vaccines over the counter through a separate pharmacy run by a hospital is subject to GST. Anju Parakh, the petitioner, requested a preliminary judgment about the application of Goods and Services Tax to vaccinations administered by doctors at their clinic (OPD). The applicant […]
By January, the ministry of corporate affairs hopes to convert all business forms to the revised V3 platform, which has received migration of all the company’s forms to the new portal. There are nearly 56 forms that shall be migrated to the new portal in the subsequent month in 2 stages. Since there are 10 […]
The Delhi High Court decided to investigate if the GST department can perform indirectly what the insolvency law averts it from accomplishing directly. When the goods and services tax council refuses the GST input tax credit to the customers of the insolvent entity on the basis of the unpaid dues of the latter. The matter […]
