• Headlines
  • Income Tax Refund: All You Need to About Track of ITR Refund Status Online
  • August 15, 2022
August 11, 2022
The Income Tax Department carried out a search operation on 14.07.2022 on a group engaged in the business of mining, sugar manufacturing and liquor. The key person of the group is also occupying a political position. The search operation covered several premises located in Madhya Pradesh and Mumbai. During the course of the search operation, […]
July 27, 2022
The Securities Exchange Board of India (SEBI) has issued a consultation paper and has invited comments on the Online Bond Trading Platforms. Debt securities can be issued either through a public issuance or on private placement basis. A Public issue of debt securities is made through the on-line system of the Stock Exchanges and Depositories. […]
July 23, 2022
The laws and norms governing lotteries in India are not clear-cut or absolute. Although several Indian States have legalized lotteries, there is no general prohibition. As an outcome, it is up to the state governments to create legislation that governs, authorizes, and levies taxes on lotteries. Furthermore, according to a recent clarification by the NITI […]


  • GST - ANALYSIS - Taxscan
  • Journey of Five Years of GST – An Analysis
  • July 1, 2022
  • GST law is implemented in our Country with effect from 01.07.2017. It is now five years have been completed since the introduction of this new law. In these five years, we have seen many ups and downs in this law. Rather it would not be incorrect to say that this law is now more popularly […]
  • The Quandary of Standard Abatement - Gujarat High Court - GST - Taxscan
  • The Quandary of Standard Abatement
  • May 26, 2022
  • The Real Estate players have traveled a bumpy road as far as Indirect taxes are concerned. Right from the era of Sales tax, the sector has faced challenges probably like no other sector. When GST was introduced, the sector was hopeful of some respite – not in financial terms, but in terms of clarity of […]
  • Notice - Customs - recovery - Drawback - Non-Realisation - Exports Proceeds - Taxscan
  • Notice from Customs for recovery of Drawback on Non-Realisation of Exports Proceeds
  • May 17, 2022
  • Lot many exporters have started receiving notice from Customs department for recovery of Drawback as below : Notice Specimen : Sub: Non/Part Realization of Exports Proceed s for Drawback – reg. While monitoring the realization of exports proceeds for shipping bills filed between 01.04.2014 to 31.03.2018 through ADVAlT / RBI BRC module of CBlC, it […]
  • Pizza toppings - Bringing science into GST - Taxscan
  • Pizza toppings: Bringing science into GST!
  • April 4, 2022
  • One item on the Italian cuisine that everybody is fond of is of course PIZZA. This is also apparent from the fact that after the Haryana AAAR announced a GST ruling on classification of pizza toppings, ‘Pizza’ trended on Indian twitter. Thus, there remains no doubt on the popularity of pizza and the delight it […]
Income Tax Refund - taxscan
August 15, 2022

The deadline for filing the income tax return (ITR) for individual taxpayers for the assessment year 2022-23 was 31st July 2022. The taxpayers are eligible for a refund in case of excess payment of tax. It may include instances where employers deduct more income tax for salaried employees at times due to wrong calculations or lack of […]

Income Tax Dept - Trusts - Books of Accounts - Exemption - taxscan
August 15, 2022

In a move to tighten the rules for the Trusts and curb tax evasion, the Central Board of Direct Taxes (CBDT) has notified a list of documents to get the list of documents to avail the income tax exemption. By this, all charitable institutions and trusts will now be required to maintain an exhaustive list […]

ST Returns - CESTAT - period of limitation - Finance Act
August 11, 2022
The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Allahabad sets aside extended period of limitation under proviso to Section 73(1) of the Finance Act as there was no deliberate intention on the part of the assessee in late filing of ST Returns. The sole submission advanced by B.L. Narasimhan, Counsel for the appellant, M/s Reciprocal Infrastructure Pvt. Ltd is that the extended period of limitation under the proviso to section 73 (1) of the Finance Act could not have
Mobil oil - manufactured product - sales tax - CESTAT - taxscan
August 15, 2022

Mobil oil obtained from the cleaning process is not a manufactured product and sales tax was not sustainable held by the Ahmedabad bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT). Shri J.C Patel & Shri Rahul Gajera appeared for the Appellant and Shri Ghanshyam Soni appeared for the Respondent The assessees, M/s. Alicid...

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Contract - Commercial or Industrial Construction - demand of service tax - CESTAT - demand - taxscan
August 15, 2022

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata bench has held that the contract of supply of goods can’t be classifiable under ‘Commercial or Industrial Construction’ and demand of service tax is not sustainable. Shri Rajeev Agarwal appeared for the Appellant and Shri K Chowdhury & Shri S Mukhopadhyay appeared for the Respondent. […]

Demand for service tax - income tax returns - profit and loss accounts - CESTAT - penalty - taxscan
August 14, 2022

The Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Allahabad bench has held that the demand for service tax by simply relying on income tax returns & profit and loss accounts is not sustainable. The appellants are engaged in the transportation of goods from various siding to Nepal. The department observed that the appellant had...

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Construction and works contract - Input Service - CESTAT - Cenvat Credit - taxscan
August 14, 2022

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata allowed Cenvat Credit on the ground that the Construction and works contract used for the renovation of an existing factory is Input Service. The brief facts of the case are that the assessee, M/s. Jai Balaji Industries Limited was, during the relevant period, duly registered...

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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 […]



IBBI - Service Providers - IBC - taxscan
August 11, 2022
The Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017 enable stakeholders to file a grievance or a complaint against service providers under the IBC. This was stated by the Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Lok Sabha […]
Companies - struck off down - taxscan
August 11, 2022
Section 248 of the Companies Act, 2013 (the Act) provides for removal of name of company from the Register of companies, if it is not carrying on any business or operation for a period of 2 immediately preceding financial years and has not made any application within the said period for obtaining the status of […]
Default debt - interest - payment - NCLAT - taxscan
August 5, 2022
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) comprising of Justice Ashok Bhushan, Justice M. Satyanarayana Murthy, Member (Judicial), and Naresh Salecha, Member (Technical), held the total amount for maintainability of the claim will include both principal debt amount as well as interest on delayed payment. The appellant, Mr Prashat Agarwal challenged […]
NCLT - Amazon's intervention application - insolvency proceeding - Future Retail Ltd - taxscan
August 3, 2022
The Delhi bench of the National Company Law Tribunal (NCLT) rejected Amazon’s intervention application on insolvency proceedings against Future Retail Ltd and ordered insolvency resolution proceedings. The Corporate Debtor, Future Retail Ltd engaged in the business of multi-brand retail and operating stores across the Country. The Financial Creditor has provided various credit facilities to the […]
companies - compared - FY - taxscan
August 2, 2022
The Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh has stated that, 1,67,080 companies registered in FY 2021-22 as compared to 1,55,377 in FY 2020-21. Limited Liability Partnership (LLP) and Companies are incorporated under the Ministry of Corporate Affairs as per the provisions of LLP Act, 2008 and Companies Act, 2013. This […]
MCA - CSR funds - "Har Ghar Tiranga" Campaign - Taxscan
July 27, 2022
The Ministry of Corporate Affairs (MCA) has issued a clarification on spending corporate social responsibility (CSR) funds for “Har Ghar Tiranga” campaign. ‘Har Ghar Tiranga’, a campaign under the aegis of Azadi Ka Amrit Mahotsav, is aimed to invoke the feeling of patriotism in the hearts of the people and to promote awareness about the Indian […]
Whole TIme Member - Ms. Jayanti Prasad - IBBI - taxscan
July 19, 2022
The Central Government has appointed Mr. Jayanti Prasad as a Whole time Member of the Insolvency and Bankruptcy Board of India (IBBI) for five years. A notification issued by the Government on Monday stated that “In exercise of the powers conferred by section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the […]
IBBI - IPA - Regulations - taxscan
July 7, 2022
The Insolvency and Bankruptcy Board of India (IBBI) notified on Tuesday that disciplinary proceedings against IPA are to be conducted as per IBBI (Inspection & Investigation) Regulations, 2017. A notification issued by the Board on 4th July stated that the IBBI (Insolvency Professional Agencies) (Amendment) Regulations, 2022 to further amend the IBBI (Insolvency Professional Agencies) […]
Gauhati HC - Writ Petition - Alternative remedy - Appeal - SARFAESI Act - taxscan
August 11, 2022

The Division bench of Gauhati High Court dismisses the writ petition without invoking an alternative remedy of appeal under the SARFAESI Act. The respondent, Union Bank of India initiated proceedings against the petitioner M/S Veteran Security Service under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) and...

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Stamp Duty - market value - property - Rajasthan HC - taxscan
August 3, 2022
As per the scheme of arrangement and amalgamation, the assets and The Rajasthan High Court (HC) held that stamp duty is leviable on market value of property situated in the state of Rajasthan and required to be assessed by the statutory scheme of the Stamp Act of 1998. Mr Bishwajit Bhattachharya Senior Advocate & Mr […]
Supreme Court - Constitutional Validity - Provisional Attachment - Property - Accused - PMLA - taxscan
August 3, 2022
The Supreme Court, in a landmark judgment in Vijay Madanlal v. Union of India, has upheld the constitutional validity of section 5 of the Prevention of Money Laundering Act, 2002 wherein the officer can provisionally attach the property of the accused. As per section 5 of PMLA, “Where the Director or any other officer not […]
Live Accounting and Tally Prime Course - taxscan
August 14, 2022

This Course is spread over a span of 40 hours which will help in getting a strong command over accounting and GST in Tally. The course will help in getting conceptual clarity as well as will provide an upper hand while doing work in Tally Software. Our aim through this session is to target both theoretical […]

Certificate Course On Handling on GST Assessment and Scrutiny Complexities - taxscan
August 14, 2022

Key Topics  ✅ Assessment including Provisional and GST Scrutiny ✅Fake Invoices notice, Latest circular and their tentative replies ( replies in word format would be available) ✅ Inspection, Search and Seizure ✅Demand and Recovery ✅Advance Ruling ✅Appeals and Power of Revisional Authority ✅Certain Offences and Penalties Key Features ➡️ E certificate ➡️ E notes available […]

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 […]