• Excise & Customs
  • Relief to Ramco Cement: No Denial of CENVAT credits of Service Tax paid on Outward Transportation of Finished Products from factory to dealers and buyers, rules CESTAT [Read Order]
  • December 5, 2023
December 5, 2023
The Institute of Chartered Accountants of India (ICAI) has released a technical guide on Form GSTR-9C or Goods and Services Tax (GST) reconciliation statement. “I am positive that members will find this publication very useful in discharging their statutory functions and responsibilities in an efficient and effective manner”, CA Aniket Sunil Talati stated in the […]
December 2, 2023
As the curtains fall today on the 15th Annual Conference organized by the Bahrain Chapter of the Institute of Chartered Accountants of India (BCICAI), a diverse and dynamic gathering of financial professionals from the Kingdom and beyond concludes today in the vibrant Kingdom of Bahrain. The event was held at the Diplomat Radisson Blu Hotel, […]
December 2, 2023
The Institute of Chartered Accountants of India (ICAI) is likely to release the results of Chartered Accountancy (CA) Final and Intermediate November 2023 Exams in the first or second week of January, 2024. Central Council Member of ICAI and Chairman,MSME & Startup Committee, Dhiraj Khandelwal shared on X, formerly twitter: – The Institute of Chartered […]


  • CA Fresher - Campus Placement - Salary Packages - TAXSCAN
  • CA Fresher Campus Placement Salary Packages over the Years: An Analysis
  • December 4, 2023
  • In a significant achievement, the Institute of Chartered Accountants of India (ICAI) has successfully concluded its 58th Campus Placement Program, awarding an impressive annual package of about INR 50 Lakhs to Chartered Accountants securing placements. Read More: CA Fresher bags INR 49.20 Lakhs Package in 58th ICAI Campus Placement Event 57th ICAI Campus Placement Programme […]
  • GSTR 2A - GSTR 2B - ITC - input tax credit - Time limit - ITC Revesal - GST - TAXSCAN
  • Decoding GSTR 2A-GSTR 2B and ITC: Time Limits and Reversal under Rule 37
  • December 4, 2023
  • GST and Input Tax Credit – Minimising the Cascading Effect The implementation of the Goods and Services Tax (GST) in 2017 marked a significant stride towards achieving the objective of a streamlined and straightforward taxation system. A key facet contributing to the effectiveness of GST is the incorporation of Input Tax Credit (ITC) provisions. Conceived […]
  • Legal Exploration by NCLAT - NCLAT - Professional Misconduct - ICAI Members - violates professional duties - chartered accountant - taxscan
  • What Constitutes Professional Misconduct for ICAI Members? A Legal Exploration
  • December 4, 2023
  • Professional misconduct, as defined by the Institute of Chartered Accountants of India (ICAI), refers to any act or omission by a chartered accountant in connection with his professional duties that violates the established standards, guidelines, or ethical principles set forth by the ICAI. The ICAI, being the regulatory body for chartered accountants in India, outlines […]
  • Economic Offences - Technological Advancement - AI - taxscan
  • Real Threat of AI and Technological Advancement in Economic Offences
  • December 2, 2023
  • In today’s digital era, the rise of artificial intelligence (AI) has brought wide scope and possibilities along with unprecedented threats to economic crime. AI can be a powerful tool in combating economic crime. The advanced technology of AI is used almost in all fields as it is easy to administer all tasks. With the ability […]
Upload Appeal - Technical problems - Kerala high court - Income Tax Portal - appeal - taxscan
December 5, 2023

The Kerala High Court directed to provide link for uploading in the matter of failure to upload appeal due to technical problems in income tax portal. The petitioner in the present matter is M/s Ramakrishna Fuels. The counsel for the petitioner submitted that the petitioner got prepared the appeal against the assessment order, but the...

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SLP - special leave petition - Income Tax Department - TAXSCAN
December 5, 2023

The petitioner in the present matter is Ketan Kumar J Patel. The counsel appearing for the petitioner submitted that although there is a delay of 422 days in SLP (C) Dy.No.29859/2023, 524 days in SLP (C) Diary No(s). 45805/2023 and 524 days in SLP (C) Dy. No.45797/2023 in filing these special leave petitions, nevertheless the […]

Directors Sentenced to Two Years in Prison - Service Tax Fraud - Service Tax - Fraud - World Series Hockey - Hockey - TAXSCAN
December 5, 2023
Last week, a special Central Bureau of Investigation (CBI) court sentenced two directors of World Series Hockey Pvt Ltd (WSHPL), to two years of rigorous imprisonment. The conviction stemmed from their involvement in deceiving the service tax department through the use of false and forged letters. This led to the improper defreezing of the company's bank account, allowing the withdrawal of approximately Rs 45.7 lakh. The court also imposed fines of Rs 18,000 on each of the convicted directors. The
Ramco Cement - Relief to Ramco Cement - Denial of CENVAT credits - CENVAT credits - Service Tax paid on Outward Transportation - Outward Transportation of Finished Products - CESTAT Rules - TAXSCAN
December 5, 2023

The Chennai Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT), while granting relief to Ramco Cement, held that CENVAT credits of service tax paid on outward transportation of finished products from the factory to the place of dealers and buyers should not be denied. The appellant, Ramco Cements Ltd, is engaged in manufacturing...

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APSRTC - Customs - Excise and Service Tax Appellate Tribunal - TAXSCAN
December 5, 2023

The Hyderabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) observed that the hiring of vehicles to the Andhra Pradesh State Road and Transport Corporation (APSRTC) is not liable for sales tax, and the tribunal set aside the Demand-Cum Show Cause Notice (SCN). The issue to be decided was whether the hiring...

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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 […]
MCA - AGM and EGM Timelines - VC - OAVM - Statutory Timelines - MCA extends AGM and EGM Timelines - taxscan
September 26, 2023
The Ministry of Corporate Affairs (MCA) has allowed companies whose Annual General Meetings (AGMs) are Extraordinary General Meetings (EGMs) are due in the Year 2023 or 2024, to conduct their AGMs through VC or OAVM on or before 30th September, 2024 in accordance with the requirements laid down in Para 3 and Para 4 of […]
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 […]
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