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Maharashtra Govt. issues Clarification for Speedy Refund, Relaxes Monetary Limit for 'approval'

The Government of Maharashtra issued the circular clarifying the procedure to be followed for approval of the speedy Goods and Service Tax (GST)...

CBDT notifies Income Tax (9th Amendment) Rules, 2020: Safe Harbour Rules Extended [Read...

CBIC issues Changes in SOP for Verification of IGST and Other Related Aspects [Read Circular]

COVID-19: Jharkhand Govt hikes VAT on Liquor by 25% [Read Notification]

Late Filing of Bill of Entry: Customs extends Waiver of Late Fee till 3 June

ICAI issues Guidelines for Key Considerations by Auditors amid COVID-19

Chartered accountants' apex body ICAI has come out with detailed guidelines on Going Concern, Key Considerations for Auditors amid COVID-19. Business activities have been disrupted by the outbreak...

Central Govt. releases ₹15,340 cr GST Compensation to States

The Central Government has released the rupees 15,340 crores as Goods and Services Tax (GST) Compensation to State Governments / Union Territories. The Goods and Services Tax (Compensation to States)...

ICAI issues Rules for Audit of Going Concern amid COVID-19

The Institute of Chartered Accountants of India (ICAI) has issued detailed guidelines for audits to assess the going concern nature of the company and key audit considerations amid COVID-19. Auditor...

ITAT upholds Re-Assessment Proceedings against Former Indian Cricket Team Captain [Read Order]

The Income Tax Appellate Tribunal (ITAT), has recently upheld the proceedings for re-opening of assessment by the income tax department against former Indian Cricket Team Captain Krishnamachari...

CBDT exempts B2B Businesses from Mandatory Digital Payment Facility [Read Circular]

The Central Board of Direct Taxes (CBDT) issued the clarification on Wednesday that the provisions of section 269SU of the Income Tax Act shall not be applicable to a specified person having only B2B...

Non-Recording of Satisfaction Note and Absence of Nexus between Reassessment, ITAT erred in remitting issues on Merit: Delhi HC [Read Judgment]

The High Court of Delhi held that the impugned order passed by the ITAT suffers from perversity in so far as it refused to allow the assessee to urge the grounds by way of an oral application under...

GST: Why Section 129 of the Central Goods & Service Tax Act become Unconstitutional

SECTION 129. DETENTION, SEIZURE, AND RELEASE OF GOODS AND CONVEYANCES IN TRANSIT Section 129(1) of the Central Goods & Service Tax Act, 2017 (CGST Act for short) as well as the same section in...

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