• CST & VAT / GST
  • Unaware of Cess Liability During Early GST Implementation Period: Madras HC orders Personal Hearing on 15% Pre-deposit [Read Order]
  • June 19, 2024
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May 23, 2024
The next GST Council meeting is about to hear the plea by online gaming firms on the past tax demands. The Central Government issued notices amounting to Rupees one trillion to the online gaming firms last year. The Supreme Court highlighted that it would hear a batch of petitions challenging demand notices asking online gaming […]
May 23, 2024
The Bruhat Bengaluru Mahanagara Palike (BBMP) warned the defaulters against the dues from property tax and related cesses till May 18 at Rs 711.71 crore. The BBMP West zone, where Mantri Mall was shut down for the third time in six months, had 35,084 properties that owed Rs 103.26 crore. Rs 41 crore is the […]
May 23, 2024
The Enforcement Directorate arrested an Indian businessman in the matter relating to income tax refund fraud of ₹263 crores. The ED, Mumbai Zonal Office arrested Rajesh Brijlal Batreja on May 16, 2024, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. “The ED initiated an investigation based on FIR registered by CBI […]


  • income tax return - filing ITR - guide for moonlighters - moonlighting jobs - taxscan
  • Filing ITR for Extra Income: A Guide for Moonlighters
  • June 15, 2024
  • In the rapidly changing economic landscape of today, many people now consider the pursuit of extra income to be a vital part of their financial plan. People from all walks of life are looking into ways to earn extra money, whether it be through working from home as a freelancer, moonlighting in India, or finding […]
  • 53rd GST Council Meeting: Here’s What to Watch For
  • 53rd GST Council Meeting: Here’s What to Watch For
  • June 14, 2024
  • The Goods and Services Tax ( GST ) Council is meeting again on June 22nd, 2024, after a long gap of eight and a half months. This meeting is expected to address key issues related to the indirect tax system – GST Regime in India. To rationalise and rework multiple GST rates and simplify the […]
Allahabad high court - income tax appeals - Income tax act - dismisses appeals - TAXSCAN
June 19, 2024

In a recent ruling, the Allahabad High Court dismissed two income tax appeals filed by the Principal Commissioner of Income Tax against Parmarth Iron Pvt. Ltd., affirming that an Assessing Officer ( AO ) cannot refer a matter to the Departmental Valuation Officer ( DVO ) without first rejecting the books of account under Section...

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ITAT kolkata - share companies - ITAT deletes unexplained shares - share application money - income tax act - taxscan
June 19, 2024

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of unexplained share application money under the Income Tax Act, 1961 as the creditworthiness of share subscriber companies was proven. M/s. Wisley Real Estate Pvt. Ltd, the assessee is a Private Limited Company engaged in business and e-filed the return...

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CESTAT - Customs - excise - service tax - appellate tribunal - Bonafide service tax - TAXSCAN
June 19, 2024
The Chennai bench of the Customs, Excise & Service Tax Appellate  Tribunal  ( CESTAT ) observed that bonafide payment of service tax on composite contracts under Complex Service ( CCS ) instead of Works Contracts Service ( WCS ) and set aside the demand of service tax for an extended period. M/s.R.R. Constructions, the appellant is proprietary concern holding service tax registration for providing construction services like Construction of Complex Service ( CCS ), Commercial or Industrial Complex Service (
CESTAT - Customs - excise - service tax - appellate tribunal - Bonafide service tax - TAXSCAN
June 19, 2024

The Chennai bench of the Customs, Excise & Service Tax Appellate  Tribunal  ( CESTAT ) observed that bonafide payment of service tax on composite contracts under Complex Service ( CCS ) instead of Works Contracts Service ( WCS ) and set aside the demand of service tax for an extended period. M/s.R.R. Constructions, the appellant...

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Emergency Response Services - Police and Fire - Service Tax - CESTAT - taxscan
June 17, 2024

The Customs Excise and Service Tax Appellate Tribunal (CESTAT) has ruled that emergency response services, including police and fire, are exempt from service tax. The Appellant – G V K Emergency Management Research Institute has a registered Office at Secunderabad. They had centralised registration for providing taxable services under the head Business Support Service, commercial...

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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 […]
Justice Sharad Kumar Sharma - Sharad Kumar Sharma - NCLAT - taxscan
June 14, 2024
Justice Sharad Kumar Sharma, a judge at the National Company Law Appellate Tribunal ( NCLAT ) in Chennai, stepped down from a recent case. He recused from the hearing as the parties involved in the case allegedly tried to influence him. Justice Sharma requested the court administration to assign the case to a different panel […]
IBBI - Insolvency - bankruptcy - CIRP - IPs - Insolvency professionals - corporate news - TAXSCAN
June 12, 2024
In a bid to streamline the compliance process for Insolvency Professionals ( IPs ), the Insolvency and Bankruptcy Board of India ( IBBI ) has proposed significant changes to the Compliance Reporting Framework under the Corporate Insolvency Resolution Process ( CIRP ). IBBI has released a discussion paper proposing ways to simplify and improve CIRP […]
IBBI - Insolvency and bankruptcy board of india - IBC - Claims under ibc - insolvency - TAXSCAN
May 25, 2024
As per the latest data from the Insolvency and Bankruptcy Board of India ( IBBI ) the creditors have recovered 2.16 per cent, or Rs 102.78 crore, of their admitted claims from personal guarantors under the Insolvency and Bankruptcy Code ( IBC ). The IBBI data shows of the 383 admitted personal guarantors’ insolvency processes, […]
Dispute on Contractual Conditions - Place of Delivery and Obligation - Transport of Goods - Pre - Existing Dispute - IBC - NCLAT - TAXSCAN
May 24, 2024
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) held that the dispute on contractual conditions on place of delivery and obligation on transport of goods is “pre-existing dispute” under the Insolvency and Bankruptcy Code, 2016 (IBC). The appeal arose from the order passed by the Adjudicating Authority (National Company Law Tribunal, […]
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