Latest Updates on Income Tax, GST, Customs, Corporate Laws & more
Highlights 
Articles
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FILING APPEAL BEFORE SUPREME COURT – LOW TAX EFFECT
April 29, 2024
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A Simple Analysis of Duty Drawback
April 29, 2024
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Can a Registered Person claim an Input Tax Credit of IGST whose Place of Supply is different from the Recipient’s State?
April 29, 2024
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ADDITIONAL GROUNDS OF APPEAL AND ORDER IN APPEAL IN GST
April 28, 2024
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Know the Challenges and Issues with GST
April 28, 2024
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WRONG FIXATION OF FEES PAYABLE TO INTERIM RESOLUTION PROFESSIONAL
April 27, 2024
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MANNER OF FILING APPEAL BY COMMISSIONER
April 27, 2024
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Recovery proceedings not to be initiated against the former director of the Company who was not the director during the concerned period
April 27, 2024
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A simplified GST guide designed for commission agents and brokers.
April 26, 2024
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Delhi HC issued notice to decide on the taxability of providing corporate guarantee by holding company to a subsidiary
April 26, 2024
Short Notes
IBC:
Maximizing Value in Insolvency: NCLAT Upholds CoC's Right to Negotiate Post-Challenge MechanismIBC:
Supreme Court Clarifies Limitation Period for Appeals before NCLAT under IBC in the Digital Age: E-filing and Limitation PeriodsIncome Tax:
Navigating the Bounds of Tax Law: Supreme Court's Verdict on Section 153-C AssessmentsIncome Tax:
The Delhi High Court's Guiding Light on Post-Search Tax Assessments: Application of Section 153C, powers of tax authorities and the rights of assessees.Income Tax:
Navigating Legal and Procedural Hurdles: A Charitable Institution's Quest for Tax Exemption and Registration u/s 12A and 80GIncome Tax:
Supreme Court Clarifies Jurisdictional Objections in Tax Assessments: A Landmark OrderIncome Tax:
Invalid Notices and the Importance of Proper Jurisdiction: Lessons from a High-Profile Tax CaseIncome Tax:
Upholding Precedent: Supreme Court's Stance on Taxation of Cross-Border Software Payments (Royalty)Income Tax:
The Cross-Border Software Purchase Conundrum: Supreme Court's Clarification on TDS for Non-Resident Software Transactions as RoyaltyGST:
Ensuring Justice in GST Registration Cancellations: A Landmark High Court RulingIBC:
Limitation Period in Insolvency Appeals: A Step Towards Legal Clarity for determination of relevant date and Condonation of delay in filing an appeal.Customs:
Navigating Trade Restrictions: India's Stance on North Korea Exports and ImportsIBC:
Deadline Adherence in Insolvency Claims: The Supreme Court on Enforcing Arbitration Awards Amidst InsolvencyIBC:
Resolution Plan Approvals: The Supreme Court's Clarification on NCLT and NCLAT's Jurisdiction in Insolvency Resolution.Income Tax:
Navigating Tax Exemptions u/s 80P: The Supreme Court's Verdict on Cooperative Societies vs. BanksCustoms:
Supreme Court Verdict on Pre-Import Condition and IGST Exemptions: A Legal AnalysisIndian Laws:
Understanding Beneficial Ownership: A Landmark Admiralty Case in IndiaCustoms:
Beneficial Ownership, Beyond Baggage in Customs Law: Seizure of foreign currencySEZ:
Expanding Trade Horizons: The 2023 Amendment to SEZ Rules for Gem and Jewellery UnitsGST:
The Significance of Signature: A Landmark Decision on GST Assessment OrdersIncome Tax:
Principles of Natural Justice in Tax Litigation: Unraveling the Significance of Cross-Examination Rights in Tax CasesIncome Tax:
Deadline Extension for Processing E-Filed Tax Returns: Refund Claims on Income Tax ReturnsDGFT:
Deadline Extended for Pharmaceutical Track and Trace System ImplementationCorporate Law:
MCA Announces Establishment of Central Processing Centre at IMT ManesarCustoms:
Export Obligation Compliance: Detailed SOPs for EPCG and Advance Authorization HoldersNotifications
SEBI
- Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2024April 26, 2024
SEBI
- Securities and Exchange Board of India (Research Analysts) (Amendment) Regulations, 2024April 26, 2024
SEBI
- Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2024April 26, 2024
Cus (NT)
- Appointment of Common Adjudicating Authority for the purpose of adjudication of finalization of Provisional Assessment in SVB case w.r.t. M/s Tyco Fire & Security India Pvt. LtdApril 26, 2024
SEBI
- Securities and Exchange Board of India (Alternative Investment Funds) (Second Amendment) Regulations, 2024April 25, 2024
FTP
- Export of 2,000 MT of White Onion under Code 0703 10 19April 25, 2024
IT
- Exemption from specified income U/s 10(46) – ‘Kerala Autorickshaw Workers Welfare Fund Scheme, Kollam, notifiedApril 24, 2024
IT
- Under section 80G(2)(b) the Central Government Notified “Shree Ramanuj Kot Laxmi Venkatesh Mandir” managed by Shree Ramanuj Kot Trust, Indore, Madhya PradeshApril 23, 2024
FTP
- Streamlining of Halal Certification Process for Meat and Meat ProductsApril 23, 2024
IT
- Control of income-tax authorities - U/s 118 - Amendment in Notification No. 60/2022 dated the 10th June, 2022 read with corrigendum Notification Number 78/2022 dated the 4th July, 2022April 22, 2024
FEMA
- Foreign Exchange Management (Mode of Payment and Reporting of Non-Debt Instruments) (Amendment) Regulations, 2024April 19, 2024
FEMA
- Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2024.April 19, 2024
Cus (NT)
- Rate of exchange of one unit of foreign currency equivalent to Indian rupees–Supersession Notification No.27/2024-Customs(N.T.), dated 4th April, 2024April 18, 2024
FEMA
- Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2024.April 16, 2024
Cus (NT)
- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and SilverApril 15, 2024
Circulars/ Public Notices
SEBI
- Relaxation in requirement of intimation of changes in the terms of Private Placement Memorandum of Alternative Investment Funds through Merchant BankerApril 29, 2024
DGFT
- Corrigendum to Public Notice No.01/2024 dated 9th April, 2024 on modification of SION E-124 for export item Refined Sunflower Oil (Edible Grade)April 29, 2024
SEBI
- Framework for Category I and II Alternative Investment Funds (AIFs) to create encumbrance on their holding of equity of investee companiesApril 26, 2024
SEBI
- Flexibility to Alternative Investment Funds (AIFs) and their investors to deal with unliquidated investments of their schemesApril 26, 2024
FEMA
- Limits for investment in debt and sale of Credit Default Swaps by Foreign Portfolio Investors (FPIs)April 26, 2024
Income Tax
- Extension of due date for filing of Form No. 10A/10AB under the Income-tax Act, 1961April 25, 2024
SEBI
- Ease of Doing Business: Text on Contract Note with respect to Fit and Proper status of shareholdersApril 24, 2024
FEMA
- Unauthorised foreign exchange transactionsApril 24, 2024
SEBI
- Cross Margin benefits for offsetting positions having different expiry datesApril 23, 2024
Income Tax
- Partial modification of Circular No. 3 of 2023 dated 28.03.2023 regarding consequences of PAN becoming inoperative as per rule 114 AAA of the Income-tax Rules, 1962April 23, 2024
Customs
- Extension period for 3 months to Ortho-phosphoric Acid which is used for manufacturing of Fertilizers from applicability of BIS standard IS 798:2020 implemented through QCO dated 13.05.2022April 22, 2024
DGFT
- Discontinuation of Safeguard measures on import of Isopropyl alcohol (IPA), under Chapter 29 of ITC (HS) 2022, Schedule-I (Import Policy).April 18, 2024
SEBI
- Circular on Standardization of the Private Placement Memorandum (PPM) Audit ReportApril 18, 2024
Insolvency and Bankruptcy
- Partial modification to the circular no. IBBI/LIQ/61/2023 dated 28th September 2023 titled ‘Clarification w.r.t. Liquidators’ fee under clause (b) of sub-regulation (2) of Regulation 4 of IBBI (Liquidation Process) Regulations, 2016’.April 18, 2024
FEMA
- Hedging of Gold Price Risk in Overseas MarketsApril 15, 2024
News
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Auction for Sale (re-issue) of (i) ‘7.33% GS 2026’, (ii) ‘7.23% GS 2039’ and (iii) ‘7.34% GS 2064’
April 29, 2024
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RBI invites comments on the Draft Circular on “Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders”
April 27, 2024
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Important Update: Enhancement in the GST Portal
April 27, 2024
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CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
April 25, 2024
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CCI approves subscription to compulsory convertible debentures of Napino Auto and Electronics Limited by International Finance Corporation (IFC)
April 24, 2024
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Competition Commission of India (CCI) invites proposal for launching Market Study on Artificial Intelligence and Competition in India
April 22, 2024
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Auction for Sale (re-issue) of (i) ‘7.10% GS 2034’ and (ii) ‘7.46% GS 2073’
April 22, 2024
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Minutes of the Monetary Policy Committee Meeting, April 3 to 5, 2024 [Under Section 45ZL of the Reserve Bank of India Act, 1934]
April 22, 2024
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Net Direct Tax collections (provisional) for Financial Year (FY) 2023-24 exceed Union Budget Estimates by Rs. 1.35 lakh crore i.e. by 7.40%
April 22, 2024
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CCI approves acquisition of stake in PAMP Technologies (India) Private Limited and MMTC PAMP India Private Limited by PAMP Ventures SA
April 17, 2024
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Regulation of Payment Aggregators (PAs) – Draft Directions
April 17, 2024
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CBDT signs record number of 125 Advance Pricing Agreements (APAs) in FY 2023-24
April 17, 2024
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Auction for Sale (issue/ re-issue) of (i) ‘7.37% GS 2028’ and (ii) ‘New GS 2064’
April 15, 2024
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Index Numbers of Wholesale Price in India for the Month of March, 2024 (Base Year: 2011-12)
April 15, 2024
Forum - Popular issues
Payment to cine or tv artists. liability under rcm (29)
Registration-another state (19)
Sec 16(4) reversal of itc when 3b is filed belatedly (17)
Issue regarding discharge of gross tax liability while filing gst returns (15)
Goods sent for exhibition and get consumed during display (13)
Gst on hostel / pg (13)
Gst on drc (13)
Section 16 (2) (c) (13)
Reversal of igst itc and payment through drc 03 (13)
Penalty under section 122(1)(ii) of the gst act (12)
Notification no. 3/2023 - compensation cess (rate) dt. 26.07.2023-is it retrospective? (11)
Query regarding section 16(4) of cgst act (11)
Section 73(11) (10)
Adhoc demand of gst on indirect expenses in gst scrutiny (9)
Forum - Recent Replied Issues
Sales against 0.1% gst- if export not done within 90 days ... (2)
Online software import duty calculation reg ... (2)
Input tax credit (5)
Bill to a overseas company supply of goods locally ... (4)
Credit note (3)
Man power supply to poultry farm - taxable or exempt ... (6)
Gst rule 96(10) (5)
Section 16(4) (2)
Transport of goods by road (1)
Gst liability on loyalty earned against purchase of fuel ... (5)
Transfer or proprietary business (2)
Jiva Seva is Shiva Seva:
Service to humanity is Service to God
May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.
- Swami Vivekananda, CW, 5:137
