The court cautioned the authorities to exercise extreme care in future arrests, ensuring compliance with legal procedures. In a significant ruling, the Bombay High Court accepted the unconditional apology submitted by Goods and Services Tax (GST) Department officials for arresting …
GST Instruction No. 1/2025: Guidelines for Arrest & Bail As a critical update to Instruction No. 2/2022-23 GST (Investigation) dated 17 August 2022, the GST Investigation wing has released fresh guidelines regarding arrest and bail for offences punishable under the …
Multiple GST Notifications on 16 January 2025 Introducing Significant Changes in GST Rates, Exemptions & RCM The Central Board of Indirect Taxes and Customs (CBIC) has issued multiple notifications dated January 16, 2025, implementing the recommendations of the GST Council. …
The AAR ruled that the supply of food by the petitioner constitutes a standalone service outsourced by the hospital and is not directly associated with providing healthcare services. In a significant ruling, the West Bengal Authority for Advance Ruling (AAR) …
The High Court highlighted that the commissions’ statutory functions do not align with the definition of ‘business’ under Section 2(17) of the CGST Act. In a landmark judgment, the Delhi High Court has ruled that fees collected by the Central …
This landmark High Court ruling as it safeguards taxpayers from the sudden attachment of bank accounts by the tax department, which can be done with minimal notice. Now, even in the absence of coercive measures, the mere presence of an …
Rule 9B of the Companies Act, 2013, specifies that after September 30, 2024, securities of Section 8 companies can only be transferred in dematerialized form. Dematerialization of Shares by Section 8 Companies: The Ministry of Corporate Affairs (MCA) issued a …
The cryptocurrency industry has voiced significant concerns about the current taxation structure, emphasizing its potential impact on compliance, market liquidity, and innovation. India’s taxation framework for cryptocurrency and other Virtual Digital Assets (VDAs) has introduced specific guidelines that impact investors, …
Delhi HC Ruling on Necessity of Recording Satisfaction of the AO of the Other Person for Initiating Proceedings Under Section 153C In a landmark decision, the Delhi High Court emphasized the necessity of the Assessing Officer’s (AO) satisfaction under Section …
Issuance of a notice under Section 148A(b) in the name of a now-merged entity does not undermine the jurisdiction of the AO when a subsequent notice under Section 148A(d) is correctly addressed to the merged entity. The Delhi High Court …
The Supreme Court’s decision to stay the GST proceedings provides a temporary reprieve for online gaming companies The Supreme Court has temporarily halted Goods and Services Tax (GST) proceedings against 49 online gaming companies, following a request from the Centre. …
Legal Heir Registration under Income Tax In accordance with sub-section (1) of section 159 of the Income-tax Act, 1961, when an individual passes away, their legal heir is responsible for paying any tax dues that the deceased person would have …
Revision in Form 24Q: New Column 388A introduced & Column 375 renamed as Column 388 Key Changes in Form 24Q: In a significant move aimed at improving tax efficiency and reducing the burden on salaried individuals, the government has introduced …
Filing of Application for Rectification of Order which was issued for the incorrect claim of ITC under section 16(4) of the CGST Act, but the ITC in question is now valid as per the newly inserted section 16(5) and/or section …
The Gujarat High Court’s landmark judgment on GST on leasehold land transfers offers a pivotal resolution to industries grappling with unjust tax burdens. Industry stakeholders are now awaiting definitive clarity from the Supreme Court and CBIC on this matter. In …
CBIC Clarification on GST Treatment of Vouchers The GST treatment of vouchers has raised several questions, leading to confusion and disputes in the trade and industry. Circular No. 243/37/2024-GST dated 31 December 2024 seeks to clarify these issues and provide …
Understanding CRS & FATCA for Reporting Foreign Assets and Income in ITR: CRS & FATCA: In today’s interconnected global economy, tax transparency has become increasingly important to ensure that taxpayers accurately disclose their worldwide income and assets. To combat tax …
Reiterating the principle that “the law favours the diligent and not the indolent,” the Court held that the petitioner’s failure to act within the prescribed timelines precluded any claim for relief. The Patna High Court has dismissed a writ petition …
Starting October 2024, Aadhaar is be mandatory for filing Income Tax Returns and applying for PAN. Individuals without Aadhaar may face challenges in completing these processes, as Aadhaar enrolment numbers will no longer be accepted. The year 2024 introduced transformative …
Key Changes From January 1 That Will Affect Your Finances And Planning As 2024 comes to a close, significant updates and new regulations are set to impact finances, travel, and technology in 2025. From changes in GST compliance to updates …