Latest Articles
CMA Report for Bank Loan: What It Is, Why Banks Need It & How to Get It Right?
Finance : The article identifies reconciliation mismatches between profit statements, balance sheets, and fund flow statements as a major re...
GSTR-9 Annual Return: Unresolved Crisis of GST Reconciliation & ITC Matching
Goods and Services Tax : Article highlights how mechanical matching of GSTR-9 tables is leading to unjust GST demands and penalties against honest taxpayer...
LLP Form 11 Annual Return: Checklist, Fees and Complete Guide
Corporate Law : LLP Form 11 must be filed by every LLP, including inactive or non-operational entities, under the LLP Act, 2008. The guide explain...
Commonly observed AIS mismatches that can Trigger Income Tax Notice
Income Tax : The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepa...
Allahabad HC Raps NHRC for Accepting Police Version in Custodial Death of Disabled Person
Corporate Law : The Allahabad High Court criticized the NHRC for closing a custodial death case by relying solely on police reports without indepe...
Latest News
SEBI Proposes Third-Party Mutual Fund Payments as Industry Sought Operational Flexibility
SEBI : SEBI issued a draft consultation paper proposing limited relaxation of third-party payment restrictions in mutual funds for specif...
SEBI Proposes API-Based STP Framework
SEBI : SEBI has proposed replacing the centralized STP Hub with direct API-based connectivity between STP Service Providers to reduce lat...
SEBI Proposes Relaxation in Call Recording Rules for Institutional Clients
SEBI : SEBI has proposed exempting Research Analysts from maintaining call recordings for institutional investors, citing their sophistic...
IBBI Issues 2026 Guidelines for Insolvency Professional Appointments
Corporate Law : 2026 Guidelines streamline selection of Insolvency Professionals for IRP, RP, Liquidator, and Bankruptcy Trustee roles, ensuring t...
RTI Filed Seeking Mamata Banerjee’s Advocate Enrolment & Practising Status Before BCI
Corporate Law : An RTI application sought details regarding enrolment, certificate of practice, and practising status under the Advocates Act, 196...
Latest Judiciary
CESTAT Allows Reassessment for Excess CVD Refund Due to Wrong Classification of Gold Jewellery
Custom Duty : The CESTAT Chennai held that reassessment of a Bill of Entry can be permitted under Section 149 where excess CVD was paid due to f...
CESTAT Allows CENVAT Credit on GTA Services Due to FOR Destination Sales
Excise Duty : CESTAT Chennai held that CENVAT credit on outward transportation and insurance services cannot be denied where goods are sold on F...
ITAT Denies Section 54B Exemption for Failure to Prove Actual Agricultural Use
Income Tax : The Nagpur ITAT held that exemption under Section 54B requires evidence of active agricultural operations and not merely agricultu...
MP High Court Refuses GST Writ Petition as Effective Appeal Remedy Before GSTAT Was Available
Goods and Services Tax : The Madhya Pradesh High Court dismissed a writ petition challenging GST registration cancellation after noting the availability of...
Karnataka HC Sets Aside ITC Rejection as GST Returns Were Filed Before 30 Nov 2021
Goods and Services Tax : The Karnataka High Court held that retrospective insertion of Section 16(5) of the CGST Act extended the time limit for availing I...
Latest Notifications
IFSCA Ship Leasing Framework Boosts IFSC Maritime Finance Hub
Finance : The updated IFSCA framework creates a detailed regulatory structure for ship leasing activities in IFSCs, including operating and ...
CBIC Revises Tariff Values for Gold, Silver & Edible Oils from May 20, 2026
Custom Duty : CBIC issued Notification No. 47/2026-Customs (N.T.) continuing existing tariff values for key imported commodities including palm ...
Provisional Assessment Ordered Pending New Shipper Review of Chinese Solar Frame Imports
Custom Duty : The Central Government directed provisional assessment of imports of anodized aluminium frames for solar panels from a Chinese exp...
SEBI Revises Monthly Cumulative Report Format for Mutual Funds From June 2026
SEBI : SEBI has modified the Monthly Cumulative Report format for mutual funds following the introduction of new scheme categories. The r...
RBI (Commercial Banks – Classification, Valuation, and Operation of Investment Portfolio) Second Amendment Directions, 2026
Fema / RBI : RBI has abolished the mandatory Investment Fluctuation Reserve requirement for commercial banks following changes in market risk a...
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FAQs
Section 56 of Companies Act, 2013 requires execution of a proper instrument of transfer for transfer of interest of a member in a company not having share capital. Instrument must be executed by or on behalf of both transferor and transferee and delivered to company
ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory timelines. The FAQs explain how taxpayers can rectify such reporting errors through future GSTR-3B adjustments.
The FAQs explain how the 60 Tax Audit assignment ceiling will operate through the UDIN system from 1 April 2026. ICAI clarified which audit forms will count toward the limit and how assignments across firms, branches, and revised reports will be treated.
FAQs on SEBI – IVCA Annual Activity Report (AAR) is Prepared with reference to SEBI (Alternative Investment Funds) Regulations, 2012 and SEBI Master Circular for AIFs dated May 07, 2024. Annual Activity Report (“AAR”) introduced by SEBI in consultation with IVCA is a significant step towards standardized and granular reporting by Alternative Investment Funds (“AIFs”). The […]
The article explains that architectural, accommodation, and related immovable property services are governed by Section 12(3) of the IGST Act. It clarifies that the place of supply is linked to the property location rather than the recipient’s location.
