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Revised Tax Provisions for Share Buybacks
A New EraBackgroundThe Finance Bill, 2024, introduced in Parliament on July 23, 2024, has proposed significant changes to the tax provisions related to share buybacks by companies. The existing provis...
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Proposed Amendments to CGST/IGST Act, 2017 in Budget 2024
The Finance Bill No. 2/2024 has proposed several significant amendments to the Central Goods and Services Tax (CGST) Act, 2017, and the Integrated Goods and Services Tax (IGST) Act, 2017. These amendm...
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GST Case Law July 2024
Authority of DGGI Officer to Issue SCN Post Inspection/AuditThe Madras High Court in Famina Shopping Mall (P.) Ltd. v. Assistant Commissioner of GST and Central Excise (W.P. (MD) No. 19284 of 2021 dat...
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Major Reforms in GST: A Comprehensive Overview of the Finance Bill 2024
The Finance Bill 2024 has introduced significant amendments to the Goods and Services Tax (GST) laws in India, aiming to simplify tax procedures, enhance compliance, and address various issues faced b...
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Ensuring Compliance through Secretarial Audit
IntroductionSecretarial Audit is a vital component of total compliance management in an organization. It is an effective tool for corporate compliance management, detecting non-compliance, and taking...
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Compliance Under Companies Act, 2013: A Comprehensive Overview
As Chartered Accountants, it is essential to stay informed about the diverse applicability provisions under the Companies Act, 2013 to ensure precise compliance and advisory services. This Act outline...
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GST Registration: Challenges and Issues
IntroductionThe Goods and Services Tax (GST) was introduced in India on July 1, 2017, marking a significant milestone in the country's taxation system. However, the implementation of GST has been marr...
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Streamlining Tax Determination: The Impact of Section 74A
Simplifying Compliance and Reducing LitigationThe introduction of Section 74A in the CGST Act, 2017 marks a significant step towards simplifying tax determination and compliance. This new section aims...
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Issuance of Shares on a Preferential Basis: Regulations and Amendments
Overview of Preferential Share IssuanceIssuing shares on a preferential basis is a strategic move that allows companies to raise capital from specific investors, often at terms favorable to both parti...
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Union Budget 2024: Key Highlights and Reforms
The Union Budget 2024, presented by Finance Minister Nirmala Sitharaman, marks a significant milestone in the country's economic journey. This budget introduces a series of measures aimed at boosting...
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Budget 2024-25: Key Changes under GST Law
The Finance (No.2) Bill, 2024 has proposed changes in the CGST Act, IGST Act, UTGST Act and GST (Compensation to States) Act, 2017 through Clauses 110 to 146 of the Bill in CGST Act 2017, through Clau...
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Changes in TDS Proposed in Union Budget 2024-25
The Union Budget 2024-25 has introduced several key changes in the regulations for Tax Deducted at Source (TDS), aiming to enhance compliance and simplify tax procedures. These changes impact various...
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Budget 2024-25: Key Changes in Customs and Excise Duties
The Union Budget 2024-25 has introduced significant reforms in customs and excise duties, aiming to support domestic industries and simplify the trade process. The changes are designed to promote loca...
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Budget 2024-25: Key Amendments to Income Tax Law
OverviewThe Union Budget 2024-25 has introduced significant amendments to the Income-tax Act, 1961, aiming to streamline tax processes, provide relief to taxpayers, and promote economic growth. This a...
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Impact of Budget 2024 on Business Expenditure and Income
Provisions Affecting Business ExpenditureThe Budget 2024 has introduced several provisions that will impact business expenditure and income. It is essential for businesses to be aware of these changes...
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New Capital Gains Taxation Regime in India: Key Changes and Implications
The Finance (No.2) Bill, 2024, introduces significant reforms in the taxation of capital gains, aiming to rationalize and simplify the existing framework. This article outlines the major changes and t...
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Overview of the Newly Inserted Section 74A in the CGST Act, 2017
The introduction of Section 74A in the Central Goods and Services Tax (CGST) Act, 2017, marks a significant shift in how tax demands are determined and addressed. This new section, effective from the...
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FAQs: Insertion of Section 74A in the CGST Act, 2017
What is Section 74A?Section 74A is a newly introduced provision in the CGST Act, 2017, aimed at determining tax not paid, short paid, erroneously refunded, or input tax credit wrongly availed or utili...
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Procedure for Arrest Must Be Strictly Followed: Bombay HC
Arrest of Person is Drastic and Desperate Stage, Must Necessarily be Effected Upon Following Procedure Under LawThe Bombay High Court has recently reiterated the importance of following the prescribed...
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GST Budget 2024 Amendments: A Comprehensive Overview
The GST budget amendments for 2024 bring about significant changes to the GST framework, impacting various aspects of taxation. This article provides a concise and structured overview of these crucial...