Taxscan | Simplifying Tax Laws
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  • Tax Authorities can’t evade responsibility to ensure only correct and due Taxes are collected, No Taxpayer to be burdened with unfair additions: ITAT [Read Order]
  • May 9, 2021
May 6, 2021
The Institute of Chartered Accountants of India (ICAI) has invited comments and suggestions from the members for issues and concerns regarding the Accounting Process Outsourcing Services from abroad. Recently, the Government of India had declared Accounting and Finance services sector as one of the 12 Champion sectors. The Institute of Chartered Accountants of India (ICAI) […]
May 5, 2021
The National Company Law Appellate Tribunal (NCLAT) has ruled that the NCLT (National Company Law Tribunal) cannot direct for invitation of fresh bids from resolution applicants once the plan for resolution is approved by Committee of Creditors (CoC). The decision came in the appeal of M/s Renganayak Agencies who submited that the Adjudicating Authority had […]
May 3, 2021
The Security and Exchange Board of India (SEBI) on Thursday notified the relaxation from compliance with certain provisions of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015 due to the CoVID-19 pandemic. The SEBI received various representations from listed entities, professional bodies, industry associations, market participants, etc. requesting an extension of timelines for various filings […]


  • COVID-19 Relief- All you need to Know - GST Compliance Relief Measures - Clarifications - Taxscan
  • All you need to Know about GST Compliance Relief Measures and Clarifications
  • May 4, 2021
  • In wake of COVID-19 pandemic, the government has announced various relief measures for taxpayers under Goods and Services (GST) law. 1. Relaxation in GST interest rate for March & April 2021 The CBIC vide Notification No. 08/2021- Central Tax dated 1st May, 2021 provides Relaxation in the interest rate based on Turnover to those who […]
  • One Person Company - OPC - Taxscan
  • Whether One Person Company is really Incentivised?
  • April 28, 2021
  • One Person Company (OPC) is defined in section 2 of the Companies Act, 2013 (‘Companies Act’) as a company which has only one person as a ‘member’. The emphasis has been on the member of the company i.e. owner of the company.The OPC shall also be required to have a nominee to the sole member […]
  • GST - ITC provisions - Taxscan
  • GST: Another Amendment in ITC provisions on charts?
  • April 27, 2021
  • Background Till recently we were reading about cases where revenue authorities were issuing notices to recipients when they were unable to trace fraudulent suppliers. Targeting recipients for the mistake of the supplier was a second step in the process; the first being finding and slamming the supplier with notice and recovering dues. However, recently in […]
ITAT - due taxes - taxpayer - tax authorities - taxscan
May 9, 2021

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench held that the Tax authorities can not evade responsibility to ensure only correct and due taxes are collected and no taxpayer to be burdened with unfair additions. An addition of Rs.40 lakhs was made in the hands of the assessee, Naresh Sharma on account of deposits found […]

Income Tax Return - Income Tax - Taxscan
May 9, 2021

The Central Board of Direct Taxes (CBDT) has notified specified persons (reporting persons) that will furnish such information on behalf of individual taxpayers in the pre-filled ITR forms. This would help in easier filing of returns as taxpayers would just have to verify records of income accruing to them from such investments without having to […]

Cenvat Credit - Service Tax - storage - warehouse services - CESTAT - Taxscan
April 28, 2021
The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Ahmedabad bench has held that cenvat credit is not allowable on the service tax portion paid while paying rent for the storage and warehousing services. The appellant-Company took the subject premises on rent for the storage/ warehouse services availed for storing the imported inputs and claimed cenvat credit on the service tax paid on the same. However, the department rejected the request for credit on the ground that the appellant has
CBIC - Government - Pending compliances - expiry of validity of LoAs- approvals - permissions in the current - lockdown - COVID-19 - Taxscan
May 8, 2021

The Ministry of Commerce and Industries notifies relaxations in Pending compliances, expiry of validity of LoAs, approvals or permissions in the current lockdown in view of COVID-19. In view of the prevailing situation of the COVID-19 pandemic and partial lock-down imposed by the State Governments, most government offices are either closed or are functioning with […]

Statutory Provisions - madras high court - refund - taxscan
May 8, 2021

The Madras High Court while allowing the refund ruled that the circular can not deny the benefit offered under Statutory Provisions. The petitioner, M/s.Chaizup Beverages LLP is an exporter of tea and has engaged in export transactions without payment of Integrated Goods and Service Tax (IGST). According to the petitioner, export of goods and services […]

refund of excise duty - madras high court - taxscan
May 8, 2021

The Madras High Court ruled that the purchaser is not entitled to claim refund of excise duty paid under  protest after the expiry of limitation period of 6 Months. The petitioner, M/s.M.G.M.International Exports Ltd. has prayed before the court to direct the respondent to refund the tax amount of Rs.1,10,999/- with minimum interest borne by […]

Exemption Notification - Madras High Court - rejection of refund claim - Taxscan
May 6, 2021

The Madras High Court while upholding rejection of refund claim affirmed that the Exemption Notification should be interpreted strictly. The assessees, M/s.Kurian Abraham (P) Ltd and M/s.Kanam Latex Industries (P) Ltd. imported Latex Gloves in bulk and filed bills of entry for clearance of those goods, which after clearance were packed in pouches, after undergoing […]

chennai-port-trust-taxscan
December 7, 2020

A two-judge bench of the Madras High Court has denied the benefit of exemption of urban land tax to Chennai Port Trust under the provisions of the Tamil Nadu Urban Land Tax Act of 1996. While considering an appeal filed by the State, Chief Justice Amreshwar Pratap Sahi and Justice Senthilkumar Ramamoorthy ruled that the […]

No plan - impose Property Tax - Union Territory of J&K - LG Manoj Sinha - opposition - Taxscan
October 20, 2020

The Lieutenant Governor (LG) of Jammu and Kashmir, Manoj Sinha while Putting speculations to rest said that the Union Territory administration would not levy any property tax on the people in Jammu and Kashmir. Earlier this month, the Union home ministry had empowered the union territory’s administration to impose the property tax following an amendment […]

Artists - social media influencers - VAT - UAE - Taxscan
March 8, 2021
The UAE’s Federal Tax Authority (FTA) on Sunday said that services provided by artists and social media influencers for consideration are subject to Value Added Tax (VAT). This announcement was shared in the latest Basic Tax Information Bulletin issued by the FTA on the tax treatment of supplies provided by artists and social media influencers. […]
Income Tax on cards - GCC countries - Oman - High Income Earners - IMF - Taxscan
February 14, 2021
The International Monetary Funds said that Oman is weighing up plans to introduce income tax on high earners in 2022 as part of the finance ministry’s 2020-2024 economic scheme and efforts to reduce the fiscal deficit. The plan aims to bring Oman’s fiscal deficit down to 1.7 percent of gross domestic product by 2024, from […]
UAE - introduces - new version - eDirham system - pay Taxes - taxscan
October 13, 2020
The United Arab Emirates ( UAE ) has introduced the new version of eDirham system to pay Taxes. UAE tax registrants have until October 31 to register with the latest version of the eDirham platform, the Federal Tax Authority said. The FTA said it completed its preparations to join the third generation eDirham system, which […]



SEBI - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations 2021 - taxscan
May 9, 2021
The Securities and Exchange Board of India (SEBI) notified the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2021 which seeks to amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. In Regulation 282, in sub-regulation (3), the words “Institutional Trading […]
SEBI - Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations - Taxscan
May 8, 2021
The Security and Exchange Board of India (SEBI) has notified the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2021 which seeks to amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. In the Securities and Exchange Board of India (Substantial Acquisition […]
Resolution Framework 2.0 - RBI - Resolution of Covid-19 - MSMEs - Taxscan
May 8, 2021
The Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday announced Resolution Framework 2.0 for COVID related stressed assets of individuals, small businesses and Micro, Small and Medium Enterprises (MSMEs). Shaktikanta Das said that the resurgence of the COVID-19 pandemic in India in recent weeks and the associated containment measures adopted at local/regional levels […]
Secretarial compliance report - companies - SEBI - Taxscan
May 7, 2021
The Security and Exchange Board of India (SEBI) has mandated Secretarial compliance report  for listed companies by notifying the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2021 which seeks to amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Securities and […]
COVID-Care Infrastructure - CSR Activities - MCA - Taxscan
May 5, 2021
The Ministry of Corporate Affairs (MCA) has recently clarified that the amount spent for COVID-19 care infrastructure facilities is eligible for CSR activities. The Ministry, in March 2020, notified that the spending of CSR funds for COVID-19 is an eligible CSR activity.The move was expected to come as a booster dose for several corporates who […]
NCLT - Invitation of fresh bids from resolution applicants - resolution plan - CoC - NCLAT - taxscan
May 5, 2021
The National Company Law Appellate Tribunal (NCLAT) has ruled that the NCLT (National Company Law Tribunal) cannot direct for invitation of fresh bids from resolution applicants once the plan for resolution is approved by Committee of Creditors (CoC). The decision came in the appeal of M/s Renganayak Agencies who submited that the Adjudicating Authority had […]
SEBI - Listing Obligations Disclosure Requirements - COVID-19 pandemic - Taxscan
May 3, 2021
The Security and Exchange Board of India (SEBI) on Thursday notified the relaxation from compliance with certain provisions of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015 due to the CoVID-19 pandemic. The SEBI received various representations from listed entities, professional bodies, industry associations, market participants, etc. requesting an extension of timelines for various filings […]
MCA - Additional Fee - Forms - Companies Act 2013 - Taxscan
May 3, 2021
As the COVID-19 second wave is hitting the economy and businesses harder, the Ministry of Corporate Affairs(MCA) has notified certain relaxation for the rules relating to compliance and further relaxed the levy of certain additional fee on certain forms under the Companies Act, 2013. As per the notification issued by the Ministry today, the time […]
CA Exams 2021 - ICAI - Free Live Coaching Classes - CA Final - Taxscan
May 8, 2021

The Institute of Chartered Accountants of India ( ICAI ) has announced the Live Coaching Classes For CA Final, Inter Courses. The Live Coaching Classes (LCC) Batch -3 commencing from 10th May 2021 respectively for Students of Intermediate course appearing in Nov 2021 examination and Final course for Nov 2021 and May 2022 examination. The […]

Karnataka Government - extends due date of filing - Professional Tax - Taxscan
May 5, 2021
The Karnataka Government has extended the due date of filing Professional Tax. The Government has issued the Karnataka Tax on Professions, Trades, Callings and Employment (Removal of Difficulties) Order, 2021 to further amend the Karnataka Tax on Professions, Trades, Callings and Employment (Removal of Difficulties) Order, 1976. In Section 6A (1), a new proviso has […]
Engineering Services in Telecom Sector or Management Consulting Services - Telecom Sector - SEIS - Delhi HC - Ericsson - Huawei - Taxscan
May 5, 2021
The Delhi High Court while granting the relief to the two techno giants, Ericsson and Huawei ruled that Engineering Services in Telecom Sector or Management Consulting Services in Telecom Sector eligible for benefit under Service Exports from India Scheme (SEIS). The petitioner, Ericsson India Global Services and Huawei Telecommunication Company challenged the instructions dated May […]
ICMAI - conduct Corporate Laws Quiz - Company Secretaries - CS Students - Taxscan
February 18, 2021

The Corporate Laws Committee of the Institute of Costs Accountants of India (ICMAI) is conducting a Quiz on Corporate Law on the account of celebrating February 2021 as Corporate Law Month on all India basis. The link of the quiz will be made available to the members or students who have registered in the above […]

Simplified Master Class - Input Tax Credit - Legal & Practical Controversies - Nitya Tax - Forward - Taxscan
February 4, 2021

Taxscan in association with NITYA Tax Associates is pleased to announce our next program under Simplified series, a webinar on ‘Input Tax Credit – Concept and Practical Issues’. Input Tax Credit (ITC) is one of key elements of Goods and Services Tax (GST) regime and seamless flow of ITC has always been the objective of […]

Fox Mandal - International Tax Practice - Taxscan
September 9, 2020
Fox Mandal & Associates has appointed Mr. Sandip Mukherjee as Director, International Tax Practice. Sandip would operate from the Pune office and lead the international tax practice of the firm in Southern & Western India. His addition is a part of the firm’s strategic expansion of its Tax Advisory vertical. Sandip has spent about 27+ […]
November 9, 2017
The DMD Advocates has advised Infradigital Technologies Private Limited, a company promoted by Eros Labs Pte. Ltd. in selling its business undertaking engaged in the business of production and distribution of spiritual, devotional and religious audio-visual content and literature to Innertech Media Solutions Private Limited. Innertech is a portfolio company of Times Internet Limited. The business division was transferred […]
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