• CST & VAT / GST
  • Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate
  • April 22, 2024
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April 20, 2024
Recently, Zomato, a prominent player in the food delivery industry, revealed that it has been served with a GST demand and penalty totaling Rs 11.81 crore, pertaining to the period from July 2017 to March 2021. This disclosure was made on April 19, with Zomato specifically noting that the demand includes Rs 5.9 crore as […]
April 20, 2024
The Supreme Court has issued notices to various entities, including the central government, the Central Board of Indirect Taxes and Customs ( CBIC ), the Goods and Services ( GST ) Council, and the National Anti-Profiteering Authority ( NAA ), which now operates under the purview of the Competition Commission of India, in a challenge […]
April 17, 2024
The Institute of Chartered Accountants of India (ICAI) has released the Admit Card/Hall Tickets for the CA Intermediate and Final for May Examination, 2024. The students were in a dilemma whether the institute will change the exam dates due to Lok Sabha elections. However, there was no date changing response. Here is how you can […]


  • Misuse of PMLA - Time - Wakeup Call - PMLA News - PMLA - Taxscan
  • Misuse of PMLA- Time for a Wakeup Call?
  • April 22, 2024
  • Money laundering is defined as the process by which an illegal fund, perhaps, black money, obtained from illegal activities is disguised as legal money, which is eventually portrayed to be white money. This is done by passing the funds through several channels. The Prevention of Money Laundering Act, 2002 ( PMLA ) forms the core […]
  • Selling - Vehicle in India - Understanding GST - CESS Implications - taxscan
  • Selling a used Vehicle in India: Understanding GST and CESS Implications
  • April 18, 2024
  • Introduction Thinking of selling your used car or motorbike in India? There are some tax implications you need to consider, specifically the Goods and Services Tax ( GST ) and Compensation Cess. A common issue faced by Goods Transport Agencies ( GTAs ) on their excessive vehicle purchases is their inability to pay EMIs now. […]
One Day's Notice - Hearing - Allahabad HC - Assessment Order - House Tax - taxscan
April 22, 2024

– “Issuance of notice is not an empty formality to be completed only to protect the record from a technical vice of violation of rules of natural justice” The Allahabad High Court quashed assessment order enhancing house tax as only one day’s notice was granted for hearing. The impugned assessment order was ex parte and...

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ITAT - ITAT Delhi - Income Tax - TDS Deduction - TAXSCAN
April 22, 2024

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has ordered a reconsideration, directing fresh adjudication. This decision comes as submissions regarding Tax Deducted at Source ( TDS ) deductions under Sections 194J or 194C for payments related to X-Ray and CVC machine maintenance were not considered. The assessee made certain payments...

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ITAT Weekly Round-up - Weekly Round-up - ITAT Weekly News - Income Tax - taxscan
April 22, 2024
Necessary Documents - Cross Examine Government - valuer on SHIS - CESTAT - Commissioner - taxscan
April 22, 2024
The Ahmedabad Bench of the Customs Excise and Service Tax Appellate Tribunal ( CESTAT ) remanded matter to Commissioner as the necessary documents were provided to cross examine Government approved valuer on SHIS ( Status Holder Incentive Scheme ). The appeal has been filed by M/s. L. M Wind Power Blade India Pvt Ltd, against rejection of the declared assessable, confiscation and demand of customs duty and imposition of penalty. The appellant argued that they had imported Turning Cradle LM
CESTAT - CESTAT Bangalore - Cenvat Credit - Excise Act - Excise duty - taxscan
April 22, 2024

The Bangalore bench of the Customs, Excise & Service Tax Appellate Tribunal ( CESTAT ) held that an extended period of limitation under the Excise Act cannot be invoked when the assesee disclosed credit availed in monthly ER-1 returns. M/s. Kalyani Steels Limited, the appellants are engaged in the manufacture of Pig Iron ( Solid...

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Supreme Court - CESTAT - Service Tax - Service Tax on Yoga Camps - TAXSCAN
April 22, 2024

In a recent legal ruling, the Supreme Court upheld a decision made by the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) regarding the liability of the Patanjali Yogpeeth Trust to pay service tax. The trust was found liable for charging an entry fee for organizing various Yoga camps, whether they were residential […]

  • 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 […]
NCLAT - Liquidation Process - Liquidator fees - Auction of Assets - TAXSCAN
April 22, 2024
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) observed that the fees paid to Liquidator to be paid under Regulation 4(2)(b) of the Insolvency and Bankruptcy Board of India ( Liquidation Process ) Regulations, 2016 on realization and distribution of proceeds from auction of assets. The counsel for the […]
IBBI - IBBI misconduct cases - case digest - IBBI regulatory actions - taxscan
April 9, 2024
The Insolvency and Bankruptcy Board of India ( IBBI ) is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies ( IPA ), Insolvency Professionals (IP) and Information Utilities (IU) in India. It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which Lok Sabha […]
Failure - Liquidation Process - Failure to Provide Assistance in Liquidation Process by Insolvency Professional - taxscan
March 20, 2024
The Insolvency And Bankruptcy Board of India(IBBI) found that the Insolvency Professional(IP) failed to assist in the liquidation process and suspended the registration for 2 Years. Show Cause Notice (SCN) was issued to an Insolvency Professional (IP) registered with the Insolvency and Bankruptcy Board of India (Board/IBBI) and a Professional Member of the Indian Institute […]
IBBI - Insolvency and Bankruptcy Board of India - CIRP Regulations - CIRP - corporate insolvency resolution process - Taxscan
March 12, 2024
The Insolvency and Bankruptcy Board of India has amended corporate insolvency resolution process ( CIRP ) regulations with effect from 15th day of February, 2024. Procedures for Voting: The CoC is empowered to decide the period of opening of electronic voting window with a minimum of twenty-four hours and a maximum of seven days with […]
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