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Nandan GK

Nandan GK

    Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]

    In a recent judgment by the ITAT Panaji, the Tribunal restricted the profit estimation to 5% of the purchase transactions for a petroleum firm facing stock record discrepancies. A petroleum firm,...

    Stock Record Discrepancies: ITAT restricts Profit Estimation to 5% of Purchase Transactions of Petroleum Firm [Read Order]
    Nandan GK

    Section 66: Defining the Boundaries of GST Special Audits

    Audits Under GST The Goods and Services Tax (GST) regime in India is built on the principle of trust-based taxation, where taxpayers are expected to self-assess their tax liabilities and comply...

    Section 66: Defining the Boundaries of GST Special Audits
    Nandan GK

    Taxation Aspects of Transshipment Operations

    Transshipment: Transshipment refers to the strategic cargo transfer between vessels or transportation modes during transit. This process involves unloading goods from one vessel and reloading them...

    Transshipment Operations - Transshipment Operation taxation - Taxation of Transshipment Operations - TAXSCAN
    Nandan GK

    Amendments to Credit Note Provisions under GST: Following the 55th GST Council Meeting

    Credit Note: A credit note is a document issued by a supplier to a recipient. It corrects or reduces the amount of an earlier invoice and adjusts the tax payable accordingly. Section 34 of the...

    Amendments to Credit Note Provisions under GST: Following the 55th GST Council Meeting
    Nandan GK

    Important GST Terms Every Business Owner should be aware of

    India's business environment experienced an exciting shift on July 1, 2017, when the Goods and Services Tax (GST) was implemented. This historic change replaced a complex system of multiple indirect...

    Important GST Terms Every Business Owner should be aware of
    Nandan GK

    Doctrine of Mutuality: CESTAT Quashes Service Tax Demand on Association Subscription Fees [Read Order]

    The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) quashed a service tax demand on association fees and donations, holding them non-taxable under the doctrine of...

    Doctrine of Mutuality: CESTAT Quashes Service Tax Demand on Association Subscription Fees [Read Order]
    Nandan GK

    CENVAT Credit on Interface Availed by Indian Oil u/r 16 is Valid, Not Subject to Credit Reversal: CESTAT [Read Order]

    The Chandigarh bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) upheld the Central Value Added Tax (CENVAT) credit availed of by Indian Oil Corporation on Interface, stating...

    CENVAT Credit on Interface Availed by Indian Oil u/r 16 is Valid, Not Subject to Credit Reversal: CESTAT [Read Order]
    Nandan GK

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