• Headlines
  • Non Issuance of Pre-Assessment Notice: Madras HC Quashes VAT Assessment [Read Order]
  • December 2, 2022
November 30, 2022
The Insolvency and Bankruptcy Board of India ( IBBI ) has issued a circular regarding the payment of credit fees by the Insolvency professionals (IPs) and Insolvency Professional Entities (IPEs) to the Board. As per a circular issued n Tuesday, the IBBI has stated that “the Board has recently amended its following regulations, vide which […]
November 30, 2022
An official of the GST department in Chhattisgarh has informed that the director and accountant of a private firm were arrested in Chhattisgarh’s Raipur on Tuesday for evasion of the Good and Services Tax (GST) by passing on fake input tax credit (ITC) of Rs 1.92 crore. Based on a tip-off, officials of the CGST […]
November 30, 2022
One of the reasons people bet on sports or play online games is to win. However, what’s the point of playing if people can’t get paid? That is why online gambling sites need a good payment gateway. This way, they can conduct their e-commerce business efficiently. There won’t be customer complaints, and most importantly, there […]


  • FOREIGNERS - GOLD BANGLE - taxscan
  • Beware Foreigners!! Even a Gold Bangle can be a Threat to you
  • November 4, 2022
  • “Conflicts are aplenty in this world because of gold” – famous Malayalam poet Kunchan Nambiar satirically wrote. Madras High Court on Tuesday held that gold/silver ornaments that are worn in person and that exceed Rs. 50,000 in value have to be declared before the Customs Authority. Justice C Saravanan observed that import of jewellery worth […]
  • MSMEs - GROWTH ENGINE OF INDIA - taxscan
  • MSMEs – Growth Engine of India
  • October 1, 2022
  • INTRODUCTION The micro, Small, and Medium Enterprises (MSME) sector, is an industry that has become a game changer for the Indian economy. More than 42% of the employment opportunities as of today are generated by the MSME sector. This has opened up doors for the industrialization of rural & backward areas, and promoted regional development, […]
  • Bill of Entry - GSTR-2B - taxscan
  • Bill of Entry not reflected in GSTR-2B
  • September 20, 2022
  • Importers can claim IGST and cess paid on their imports only after issuing the bill of entry (BoE). Hence, taxpayers must access the bill of entry on the portal to avail input tax credit seamlessly. The GST Network (GSTN) provides a framework to taxpayers for finding the relevant bill of entry. At times Bill of […]
  • Adjudication Orders - Companies Act 2013 - taxscan
  • Synopsis of Adjudication Orders under the Companies Act, 2013
  • August 23, 2022
  • Role of Registrar of Companies The Registrars of Companies (ROC) are appointed under Section 609 of the Companies Act 2013, for each State/Union Territory. They have a primary duty of registering companies and LLPs floated in the respective states and the Union Territories and ensure that such companies and LLPs comply with statutory requirements under […]
Pre-Assessment Notice -Non Issuance of Pre-Assessment Notice - Madras HC - VAT Assessment - taxscan
December 2, 2022

A Single Bench of the Madras High Court quashed the Value Added Tax ( VAT ) assessment order and ordered to re-do the assessment, as the pre-assessment notice was not served to the assessee.   In the instant case, the assessee filed a writ petition challenging the order of assistant commissioner dated 21.04.2017 who proceeded with the […]

Domestic companies - Tax - Tax Reduction - Income Tax Act - Income Tax - Taxscan
December 2, 2022

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that for claiming reduction under section 115BAA of Income Tax Act the domestic companies should file form 10-IC within the prescribed time. On behalf of the appellant, Counsel Nihar A. Mehta appeared and Chetan M. Kacha appeared for the department. The...

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No - Service - Tax - on - Discount - from - Vehicle - Manufacturer - by - Dealer - CESTAT - TAXSCAN
December 2, 2022
The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), ruled that no service tax on Discount from Vehicle Manufacturer by Dealer. The issue involved in the present case is that whether the discount given by M/s. Maruti Suzuki India Ltd. to the appellant,B M Autolink in connection with sale of vehicles which was further sold by the appellant on principal-to-principal basis has to be considered as service charges towards Business Auxiliary Service and the same is
Customs - Excise - Service Tax - inventory - general provision - CESTAT - Cenvat Credit - taxscan
December 2, 2022

A Division Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi set aside reversal of Cenvat Credit on the ground of failure to identify details of inventory for which general provision were made. The issue involved in this appeal is whether the provisions of Rule 3(5)(B) of CCR, 2004 are attracted...

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Illicit Liquor - Patna HC - Bail - Petitioner - 13 Criminal Antecedents - taxscan
December 2, 2022

The Patna High Court recently rejected the bail plea of petitioner Sanjiv Kumar Rai, accused of the huge transaction of 2529 Litres of liquor. Ramachandra Singh, on behalf of the petitioner, submitted that, the said truck bearing Registration No. RJ-19GD-7254 is registered in the name of one Mohan Ram Bishnoi and the driver of the […]

Statements - Investigation - Central Excise Act - CESTAT - customs - Excise - service Tax - taxscan
December 2, 2022

The New Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), ruled that Statements recorded during the investigation to be admissible should stand test under Section 9D of the Central Excise Act. M/s Mittal Pigments Pvt. Ltd, the respondent-assessee is engaged in the manufacture of various excisable products like Lead and Alloy...

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Materials - for - making - Foundation - of - Machineries - in - factory - premises - are - Capital - Goods - Cenvat - Credit - CESTAT - TAXSCAN
December 2, 2022

The Ahmedabad Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), held that Materials for making foundation of machineries in factory premises are capital goods under Rule 2(a) of Cenvat Credit Rules, 2004 (CCR) are eligible for cenvat credit. The issue involved in the present case is that whether the appellant, Hng Float...

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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 […]
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 […]

UAE Tax Authority - UAE- Tax Registrants - Penalties re-determined - violating Tax Laws - Taxscan
January 25, 2022
The UAE Tax Authority has extended the grace period for UAE’s tax registrants to get their penalties re-determined for violating tax laws until December 2022. The earlier deadline for re-determination was December 31, 2021. The Federal Tax Authority (FTA) clarified that tax registrants who had not met the necessary conditions to benefit from the administrative […]
Banks - Cash Withdrawal from ATM - RBI - Taxscan
June 11, 2021
The Reserve Bank of India (RBI) has allowed the banks to hike the fee charged on cash withdrawal beyond the permitted free Automated Teller Machine (ATM) transaction limit from Rs 20 to Rs 21 per transaction, with effect from January 1, 2022. The Regulatory Bank had constituted a Committee in June 2019 under the Chairmanship […]
OECD - report - Inheritance Taxation - OECD Countries - Taxscan
May 18, 2021
The Organisation for Economic Co-operation and Development (OECD) has released the report on Inheritance Taxation in OECD Countries. The purpose of the report is to Compare and assess inheritance, estate and gift taxes across OECD countries and Explore the role that these taxes could play in raising revenue, addressing inequalities and improving the efficiency of […]



materials - Which - Show - Reassessment - Proceedings - as - Arbitrary - Writ - Jurisdiction - Delhi - HC - TAXSCAN
December 2, 2022
The Delhi Bench High Court (HC)has held that the writ jurisdiction of the court cannot be invoked when there are no materials which show reassessment proceedings as arbitrary. Mr. Ajay Gupta, who is the Karta of the Petitioner’s Hindu Undivided Family (‘HUF’) filed the writ petition seeking the quashing of the order dated 18th July, […]
Reappointment - Vested - Right - Gujarat - HC - Expedition - of - Appointment - of - Judicial - Member - of - NCLT - TAXSCAN
December 1, 2022
A Division Bench of the Gujarat HC has recently denied to compel the expeditious appointment of Manorama Kumari as the Judicial Member pursuant to the willingness shown in being reappointed at the National Company Law Tribunal (NCLT). The petitioner was appointed as a judicial member of the National Company Law Tribunal on 01.06.2016 in terms […]
Misconduct - IBBI - IBBI Imposes Penalty- Penalty - CS - IP - IA - Delay in filing Form CIRP 7 - Form CIRP 7 - taxscan
November 30, 2022
The Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI) comprising Whole Time Member Jayanti Prasad has imposed a fine of Rupees Two Lakhs on the Company Secretary Anuj Kumar Tiwari for the alleged non-cooperation with the Inspecting Authority (IA) and delay in filing Form CIRP 7. Regulation 40B (1A) provides that when […]
IBBI - Circular - Payment of Credit - Credit fees - Insolvency professionals - Insolvency Professional Entities - taxscan
November 30, 2022
The Insolvency and Bankruptcy Board of India ( IBBI ) has issued a circular regarding the payment of credit fees by the Insolvency professionals (IPs) and Insolvency Professional Entities (IPEs) to the Board. As per a circular issued n Tuesday, the IBBI has stated that “the Board has recently amended its following regulations, vide which […]
Petition - to - Quash - Re - Assessment - against - Struck - Off - Company - cannot - be - Entertained - after - Restoration - by - MCA - Delhi - HC - TAXSCAN
November 29, 2022
A division bench of the Delhi High Court has imposed a cost of Rs. 50,000 against the assessee for filing petition seeking to nullify the re-assessment under section 148 of the Income Tax Act, 1961 against a struck-off company as the Ministry of Corporate Affairs (MCA) has restored the same in order toenable the income […]
Adjudicating Authority
November 25, 2022
The Chennai Bench of the National Company Law Tribunal (NCLT) has held that Adjudicating Authority is obligated to initiate the ‘ Liquidation Process’ u/s 33(1) of the I&B Code when ‘Committee of Creditors’ rejected the resolution plan. The ‘Trivandrum International Health Services Ltd.’ who was a ‘Corporate Debtor’ was admitted into the Corporate Insolvency Resolution […]
SEBI - Notifies - Amendment - Regulations - regarding - Issue - of - Capital - and - Disclosure - Requirements - TAXSCAN
November 24, 2022
The Securities and Exchange Board of India (SEBI) has notified the amendment to the SEBI (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2022. As per the notification issued on 23rd November 2022, after Chapter II and before Chapter III, the following Chapter IIA shall be inserted to include rules regarding the initial public […]
Misconduct - IBBI - Chartered Accountant - CA - Insolvency and Bankruptcy Board of India - IBBI Imposes Fine - taxscan
November 23, 2022
The Insolvency and Bankruptcy Board of India ( IBBI ) has imposed a fine of Rs. 2 lakh on a Chartered Accountant/Insolvency Professional for the alleged contravention of section 12, 25(2)(f), 208(2)(a) and 208(2)(e) of the Code, regulation 34 of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations), regulation 7(2)(a) and 7(2)(h) […]
No serious efforts seem to have been made - Supreme Court - Pendency of Investigation - Excise Cases in Punjab - Taxscan
December 2, 2022

The two-judge Supreme Court Bench of Justice M R Shah and Justice M M Sundresh observed recently in a Special Leave Petition filed by Tarsem Jodhan and others that, “No serious efforts seem to have been made” in regard to the pendency of investigation in excise matters in Punjab. In the impugned order, it was...

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Benami - Transactions - (Prohibition) - Amendment - Act - Prospective - Effect - Transactions - Delhi - HC - TAXSCAN
December 1, 2022
The Delhi Bench High Court has held that Section 53 of Benami Transactions (Prohibition) Amendment Act has  prospective effect, and only applies to transactions entered after 1st November 2016. RajeshKatyal, filed seeking a direction for quashing and to set aside the Show Cause Notice dated 04th April, 2022  (‘SCN’) issued by the Respondent under Section […]
RBI - Retail Digital Rupee - taxscan
November 29, 2022
The Reserve Bank of India (RBI) has announced the launch of the first pilot for retail digital Rupee (e₹-R) on December 01, 2022. Earlier, on 31st October 2022, the RBI had, in a Press Release, indicated that the pilot in e₹-R would commence in a month’s time. The pilot would cover select locations in closed user group (CUG) comprising participating […]
Certificate Course - GST Notices - GST - File First Appeal - Online Course - Online certificate Course - taxscan academy
November 30, 2022

Faculty – CA Abhishek Raja Ram Date – 10 to 12 Dec 2022 Time – 6 PM to 8 PM Course Fees 1999+GST Offer Price – 1399+GST Click Here To Pay Nowhttps://rzp.io/l/GKvJGbb Day 1▪National Litigation Policy & CBIC’s Structure▪First AppealPower of Revisional Authority▪Condonation of Delay and Sufficient Cause▪Stay Application▪Pre-Deposits Day 2What are the different types of […]

GST ON E COMMERCE OPERATOR - taxscan
November 29, 2022

Faculty – CA Sumit Kedia 📆 Dec 4, Sunday🕔5.00 PM – 7.00 PM What will be covered in the course ✅GST Rates on the Sector✅Place of Supply and ITC-Related Provision to the Sector (if any)✅Exemptions to the said Sector✅Important Judgement if any✅Open-ended Issue in the sector✅Q&A Session Course Fees1000/-(Including GST)800/- (Including GST) Click Here To […]

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 […]
CA - Vacancy - Deloitte - taxscan
November 29, 2022
B - Com - Vacancy - in - TMF - Group - TAXSCAN
November 26, 2022
B. com vacancy - Bcom jobs - TMF Group - vacancy in TMF Group - B. Com Vacancy in TMF Group - job scan - taxscan
November 25, 2022
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 SIGNIFICANT WOMEN FRIENDLY RULES TOP 10 INCOME TAX LAWS OF THIS WEEK Top 10 GST News of Last Week 6 Benefits of New Income Tax E-Filing Portal