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Reimbursement of Travel and Meals Cost without any Profit Element, Not Taxable: ITAT [Read Order]

In Gemological Institute International Inc v. DCIT, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the reimbursement of travel...

Reimbursement of Car Running and Maintenance Charges to Employees amount to ‘ Perquisites ’, TDS...

ICAI clarifies Rumors regarding CA Exam Results

CESTAT allowed the Credit on MS items used for Structural Support to Factory [Read Order]

GST: CBIC modifies Procedure for Interception of Conveyance [Read Circular]

Cash Loan from Wife for purchase of House for the benefit of Family won’t attract Penalty u/s 271D: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently held that cash loan from the wife for the purchase of the house which is for the benefit of the whole family cannot be a ground for...

GST Dept unearths Evasion worth Rs 672.51 crores in Jaipur

Tax evasion worth Rs 672.51 crores has been detected by the Directorate General of GST (Goods and Services Tax) Intelligence (DGGI) in 46 cases, in which Rs 15.31 crore was recovered in 20 cases from...

Donations and Subscriptions Paid for Pujas and Functions are Business Expenditure: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ), in Power Maxx India Pvt.Ltd v.DCIT held that donations and subscriptions paid for pujas and functions are the business expenditure. The...

Interest on Short-term Loan given to Buyers of Material Exempt from GST: AAR [Read Order]

The Authority for Advance Ruling (AAR), Gujarat has ruled that the amount charged as interest on transaction-based short-term loan given to the buyers of material is exempt from the levy of Goods and...

No GST on Supply of Service/ Materials between Govt Authorities: AAR [Read Order]

The Authority of Advance Rulings (AAR), Uttarakhand recently held that the Goods and Services Tax ( GST ) cannot be levied on the services or materials procured from Government authorities to another...

Govt amends CGST Rules to modify Norms for Transportation [Read Notification]

The Central Government has amended the Central Goods and Services Tax Rules ( CGST Rules ), 2017 to modify the norms for transportation and E-Way Bill. The Central Goods and Services Tax (Sixth...

Notice before Initiating Reassessment Proceeding is a Mandatory Requirement: ITAT [Read Order]

The ITAT Amritsar held that notice under Section 148 or 142(1) of the Income Tax Act which is served upon the deceased assessee or his sole legal heir is a mandatory requirement. In the instant case,...

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