• Headlines
  • Supreme Court upholds Income Tax Exemption granted on Dividend Income to Multi-State Cooperative Society with PE in Oman as per India-Oman DTAA [Read Order]
  • September 21, 2023
August 17, 2023
Travel loan is a personal loan variant designed to finance only vacation or travel related costs. However, not many lenders offer it as a loan variant. As the features offered on travel loans are almost similar to those of personal loans, consumers can also avail regular personal loans to fund their travel or holiday-related expenditures. […]
August 11, 2023
Today, the proposed changes to the Central Goods and Services Tax Act (CGST Act), 2017, and the Integrated Goods and Services Tax (IGST Act), 2017, regarding the imposition of 28% GST on online gaming, casinos and horse racing will be presented in the Lok Sabha by the Union Finance Minister, Nirmala Sitharaman. The Bills received […]
August 9, 2023
Introduction No matter what you choose to trade, be it Forex, Cryptocurrencies, or Stocks, your success is determined by several factors. One of those factors, and one that serves as a foundation stone for your career in trading is your choice of broker or brokerage app. Technology has been great in democratizing access to the […]


  • Know- Complete- ICAI -Courses - Webinar - Conducted- Till -February -2024- Here-TAXSCAN
  • Know Complete ICAI Courses and Webinar to be Conducted Till February 2024 Here
  • September 18, 2023
  • The Institute of Chartered Accountants of India (ICAI) has undertaken an initiative aimed at enhancing the knowledge and professional development of its members. To achieve this goal, ICAI is organizing a series of seminars and educational events. These seminars serve as a platform for members to access up-to-date information, insights, and skills relevant to their […]
  • UDIN - GST - Tax -audit-Know -Complete -Details-CA-Taxscan
  • UDIN for GST and Tax Audit: Know Complete Details
  • September 14, 2023
  • Unique Document Identification Number (UDIN) is an 18-Digits system generated unique number for every document certified/attested by Practising Chartered Accountants. The Institute of Chartered Accountants (ICAI) has mandated the full-time practising Chartered Accountants (CA) to generate UDIN for each assignment. Here we see the UDIN for the Goods and Services Tax (GST) and Tax Audit. […]
  • Valuation of Supply - Online Gaming and Casinos - Online Gaming - Supply - taxscan
  • Valuation of Supply – Online Gaming and Casinos
  • September 7, 2023
  • The CBIC has vide Notification No.45/2023 Dt.06.09.2023 introduced the Central Goods and Services Tax (Third Amendment) Rules, 2023 which will come into force on a date that will be notified by the Central Government in the Official Gazette. The above mentioned amendment inserts two new rules i.e. Rule 31B and Rule 31C in the Central […]
Relief - Honda-ITAT - Disallowance - Expenses - Sale- Tools- Expenses-TAXSCAN
September 21, 2023

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) deleted the disallowances on signage expenses and sale tools expenses on the basis of decision of Tribunal in previous Assessment Year (AY). The assessee Honda Motorcycle and Scooter India Pvt. Ltd is a subsidiary of Honda Motor Co. Ltd. Japan. Honda group is engaged in the...

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Relief - Honda-ITAT - Claim - Deduction - Expenses - Technical- Know-How- Services-TAXSCAN
September 21, 2023

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to allow assessee’s claim of deduction in respect of technical know-how payment on the basis of decision of Tribunal in previous Assessment Year (AY) 2015-16. The assessee Honda Motorcycle and Scooter India Pvt. Ltd is a subsidiary of Honda Motor Co....

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Service -Tax - Renting - Immovable- Property - Commercial- Purposes-Supreme- Court - Delhi -HC - HDFC- Bank-TAXSCAN
September 21, 2023
A Division Bench of the Supreme Court has stayed the operation of the Delhi High Court Judgement against HDFC Bank Ltd. with regard to the service tax demand on the bank to the tune of Rs.27,87,374/- on renting of immovable property for commercial purposes. The counsel for the petitioner submitted that the High Court erroneously imposed the liability towards the service tax, on renting of the immovable property for commercial purpose, upon the Bank (tenant) whereas the service actually was
Upgrading - Existing Plants - Input Services - under CCR - Cenvat - Credit allowable - CESTAT - taxscan
September 21, 2023

The Ahmedabad bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) held that upgrading existing plants can be considered Input Services under Cenvat Credit Rules, 2004 (CCR) and allowed appeal by General Motors Pvt Ltd (the Appellant) against order by the Adjudicating Authority confirming the order issued by The Commissioner of Central Excise (CCE),...

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NGK Spark plugs - CESTAT Cenvat Credit on input services used in manufacture and sale of auto parts - TAXSCAN
September 21, 2023

The Chandigarh bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) allowed the appeal by Niterra India Private Limited, formerly known as NGK Spark Plugs Pvt. Ltd (the Appellant) against the order by The Commissioner of Central Excise, Delhi (the respondent) demanding the Cenvat Credit availed by NGK Sparkplugs Pvt Ltd with interest and...

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  • MCA - Booklet - BE(A)WARE - Fraudulent Schemes - taxscan
  • MCA releases Booklet ‘BE(A)WARE’ on Measures to Overcome Fraudulent Schemes
  • November 16, 2022
  • The Ministry of Corporate Affairs ( MCA ) has released a booklet titled “BEWARE” for the public to overcome the fraudulent schemes. There has been a surge in usage of digital modes of payment in the recent years. This gained further momentum during the Covid-19 induced lockdowns. While enhancing customer convenience, it also furthered the […]
  • GST - Crypto - CBIC - Working - Framework - TAXSCAN
  • GST on Crypto: CBIC Working on Defining Legal Framework
  • November 14, 2022
  • In a significant move, the Central Board of Indirect Taxes and Customs (CBIC) is working on defining a legal framework for applying goods and services tax (GST) on crypto or virtual digital assets appears to be around the corner, with the working on an agenda paper on the topic. The board has been interacting with […]
  • Govt - Rupee settlement - Export - Promotion Schemes - taxscan
  • Govt allows Rupee Settlement in Export Promotion Schemes [Read Notification]
  • November 10, 2022
  • In a major relief to the exporters, the Ministry of Commerce and Industry has notified the change in the Foreign Trade Policy 2015-2022  comes after the Reserve Bank of India had, on 11th July 2022, issued guidelines for the settlement of international trade in Indian rupees. Following this, the central government has made changes to […]
LLP Amnesty Scheme - MCA issues Circular - Condoning Delay in Filing Form 3 - Form 4 - Form 11 -Condoning Delay- taxscan
August 24, 2023
The Ministry of Corporate Affairs (MCA) has notified the Limited Liability Partnership (LLP) Amnesty Scheme. The ministry vide circular number No. 8/2023 issued on 23rd August 2023 condoning the delay in filing of Form-3, Form-4 and Form-11 under Section 67 of Limited Liability Partnership (LLP) Act, 2008 read with Section 460 of Companies Act, 2013. […]
CIRP - Service Tax Credit - Refund - issue of Demand Notice - NCLAT -Service Tax - taxscan
August 20, 2023
The New Delhi bench of the National Company Law Appellate Tribunal( NCLAT ) held that  Resolution Professional(RP) proof beyond doubt that disobedience or breach was wilful necessary to constitute contempt of the Tribunal’s orders. A bunch of complaints was filed alleging wilful breach of orders of the Appellate Tribunal. The Complainants are 50% shareholders in […]
NCLT have Jurisdiction - Resolution Plan for Modification - NCLAT allows to Prepare Addendum -Resolution Plan - NCLAT - taxscan
August 20, 2023
The New Delhi bench of the National Company Law Appellate Tribunal( NCLAT ) held that National Company Law Tribunal (NCLT) have Jurisdiction to send back Resolution Plan for Modification under certain circumstance and is allowed to prepare Addendum to incorporate necessary modification. Ocean Capital Market Ltd, the appellant is a Successful Resolution Applicant who challenged […]
CIRP in Time Bound Manner - NCLAT approves Reduced Fee payable to RP -NCLAT -Failure to complete CIRP - taxscan
August 20, 2023
The New Delhi bench of the National Company Law Appellate Tribunal( NCLAT ) approved the reduced Fee payable to Resolution Process(RP) on failure to complete Corporate Insolvency Resolution Process (“CIRP”) in Time Bound Manner. India Resurgence ARC Pvt. Ltd., the appellant filed appeal under Section 61 of Insolvency and Bankruptcy Code, 2016 (“IBC”) arises out […]
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50th GST Council Meeting: Key Highlights Withdrawal of 2000 Rupee Notes from Circulation: Myths vs Facts 5 Major Amendments for Investors: Budget 2023 Union Budget 2023: Middle Class can expect these 5 Changes Live Sector Wise Analysis Under GST Multi-Function Computer Cleaning Tools Kit Finfluencer Stainless Steel Bottle with Touch Screen LED Temperature Display Top 10 GST News of September Debunking Myths around GST Top 10 Income Tax News of this Week