Latest Articles
Format of Certificate of Non-Availment of ITC by Recipient of Goods
Goods and Services Tax : The article explains that where recipients never avail ITC on rejected goods, no reversal is required upon issuance of credit note...
TDS on Residential Rent paid by companies : 2% vs 10% rule
Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Representation Against GST Action on Bona Fide Buyers in Karnataka
Goods and Services Tax : The representation seeks safeguards against automatic ITC reversals arising from supplier defaults and retrospective cancellations...
Late Fee vs General Penalty: Has the Madras High Court Drawn a Line Between Delayed Filing and Non-Filing of Returns?
Goods and Services Tax : The Madras High Court held that complete failure to file the annual return can attract both late fee under Section 47 and general ...
Ex-Parte GST Assessment Quashed as Taxpayer Was Given Only One Day to Reply
Goods and Services Tax : The Karnataka High Court held that granting only one day's time to respond to a show cause notice violates principles of natural j...
Latest News
CAAS Urges Responsible AI Use in GST Administration
CA, CS, CMA : CAAS suggested that while favourable outcomes may be automated, adverse actions should require a named officer's approval supporte...
CAAS Urges Human Accountability & Wider Access in SC’s Draft AI Regulations
CA, CS, CMA : CAAS welcomed the Supreme Court's draft AI regulations while proposing changes to improve implementation at the filing counter. Th...
CAAS Urges ICAI to Raise NCE & LLP Financial Statement Threshold to ₹10 Crore
CA, CS, CMA : CAAS emphasized that smaller businesses may require adequate time, software readiness, and stakeholder awareness before adapting t...
CASS Demands State-Wide Acceptance of ICAI-Compliant DIC Certificates
CA, CS, CMA : CAAS has requested the Gujarat Industries Commissionerate to direct all DIC offices to accept certificates containing ICAI-mandate...
CASS Objects as Electricity Duty Authorities Insist on Rigid CA Certificate Formats
CA, CS, CMA : CAAS urged Gujarat authorities to stop rejecting certificates merely because they do not mirror prescribed formats. The representa...
Latest Judiciary
ITAT Upholds Section 154 Rectification as Payments from Accumulated Funds to Registered Trusts Escaped Assessment
Income Tax : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...
Telangana HC Sets Aside GST Assessment Over Multiple SCNs for Same Period
Goods and Services Tax : The Telangana High Court dealt with the legality of issuing multiple show cause notices for the same tax period without adjudicati...
Telangana HC Restores GST Appeal Rejected Over Pre-Deposit Technicality
Goods and Services Tax : The issue was whether a GST appeal filed within limitation could be dismissed merely because the mandatory pre-deposit was not mad...
Telangana HC Allows Delayed GST Appeal After Bank Account Attachment
Goods and Services Tax : The issue was whether a taxpayer could pursue a statutory appeal after approaching the High Court against a GST demand order and s...
Mumbai ITAT Rejects Excess PE Attribution: Revenue Sharing with UK Office Upheld in Cross-Border M&A Deals
Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...
Latest Notifications
GSTAT Mumbai Issues Notice on Operational Launch & Appeal Filing
Goods and Services Tax : GSTAT Mumbai Bench has officially commenced functioning, making it mandatory for taxpayers within its jurisdiction to file appeals...
ROC Imposes Penalty as Incorrect AGM Date Was Filed in AOC-4 XBRL
Company Law : ROC Kolkata held that filing Form AOC-4 XBRL with an incorrect AGM date amounted to a contravention of Rule 8(3). The order clarif...
ROC Imposes Penalty for Multiple Private Placement Filing Errors
Company Law : ROC Delhi penalised a company and its officers for three separate compliance failures linked to a private placement of shares. The...
ROC Imposes Penalty as Incorrect AGM Due Date Was Filed in Form AOC-4
Company Law : ROC Kolkata held that mentioning an incorrect AGM due date in Form AOC-4 constituted a violation of Rule 8(3). The company and cer...
Voluntary Disclosure Does Not Eliminate Liability for Duplicate DIN: ROC Pune
Company Law : ROC Pune held that possession of more than one Director Identification Number constitutes a violation of Section 155 of the Compan...
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FAQs
The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 should be filed first to ensure proper ITC flow and avoid reconciliation mismatches and scrutiny.
The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs. It aims to promote innovation while maintaining regulatory oversight.
Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TDS/TCS credits, and specified financial transactions of taxpayers. The Income-tax Act mandates obtaining and quoting PAN for various persons and high-value transactions, while also prohibiting possession of multiple PANs and prescribing penalties for non-compliance.
CDSCO registration is required for importing, manufacturing, or marketing regulated healthcare products in India. The approval ensures compliance with safety, quality, and regulatory standards.
The FAQ clarifies that the Companies Act, 2013 does not restrict adjournment of a duly convened and commenced AGM. An adjourned AGM is treated as a continuation of the original meeting rather than a fresh meeting.
