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Navigating the Complexities of GST Refund.
Navigating the Complexities of GST Refund Introduction: The introduction of the Goods and Services Tax (GST) system in India has brought about significant changes in taxation, aiming to streamline pro...
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GST Council Newsletter for February, 2024
Introduction: The Goods and Services Tax (GST) Council convened its first National Conference of Enforcement Chiefs in New Delhi, marking a significant step in enhancing tax compliance and combating e...
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CBDT notifies ‘Principal Secretary, Planning Department, UP U/s. 138(1)(a)(iii)
Notification No. 35/2024, issued by the Ministry of Finance, specifies the Principal Secretary, Planning Department, Government of Uttar Pradesh, under sub-section (1) of section 138 of the Income Tax...
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Input Tax Credit Claims: Reconciling GSTR-3B and GSTR-2A/2B.
Input Tax Credit Claims: Reconciling GSTR-3B and GSTR-2A/2B In recent times, taxpayers have been inundated with notices regarding input tax credit (ITC) claims, particularly in relation to blocked cre...
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GST Registration, Input Tax Credit, and Place of Supply Provisions for Work Contractors (Doing Work in a State Other Than the State of Registration)
1. IntroductionThe Goods and Services Tax (GST) has been in place for more than 6.5 years in India, but there are still many unanswered questions about its provisions. One such area is the legal conto...
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Capital Gain Account Scheme: A Comprehensive Guide.
Capital Gain Account Scheme: A Comprehensive Guide 1. IntroductionThe Indian Income Tax Act of 1961 introduced a unique provision called the Capital Gain Account Scheme (CGAS) in 1988. This scheme aim...
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All About Society Registration in India.
All About Society Registration in India1. Introduction: A society, in simple terms, is a group of people who engage in continuous social interactions and share a common social or spatial territory. So...
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All About Society Registration in India.
All About Society Registration in India 1. Introduction: A society, in simple terms, is a group of people who engage in continuous social interactions and share a common social or spatial territory. S...
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Supreme Court Allows Companies to File Consumer Complaints under the Consumer Protection Act, 1986
1. IntroductionIn a landmark judgment, the Supreme Court of India has ruled that a corporate entity or company can be considered a 'person' under the Consumer Protection Act, 1986, and is therefore el...
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Framework for Recognizing SROs for RBI Regulated Entities
Introduction: The Reserve Bank of India (RBI) plays a pivotal role in regulating the currency and credit system of the country to maintain financial stability. As part of its regulatory efforts, RBI i...
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Mock Test Papers Series – II for CA Final & Inter May 2024 Examinations
The Institute of Chartered Accountants of India (ICAI) through its Board of Studies has announced the commencement of Mock Test Papers Series II for students appearing in CA Final/Intermediate exams i...
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Bihar Settlement of Taxation Disputes Act, 2024
The Bihar Settlement of Taxation Disputes Act, 2024 aims to resolve disputes arising from various taxation proceedings. Enacted against the backdrop of evolving tax laws, it offers a structured mechan...
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Salient Feature of Accounting for Property, Plant and Equipment (PPE) under AS 10.
Salient Feature of Accounting for Property, Plant and Equipment (PPE) under AS 10 Introduction Property, Plant and Equipment (PPE) are tangible fixed assets that are utilized in business operations to...
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Ready Reckoner on Tax Deducted at Source (TDS) under GST.
Ready Reckoner on Tax Deducted at Source (TDS) under GST 1. Introduction The Goods and Services Tax (GST) law in India mandates certain recipients of goods or services to deduct tax at source (TDS) fr...
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Corrigendum to Income Tax Notification No. 27 of 2024
Ministry of Finance recently issued a corrigendum, marked as Notification No. 34/2024, which amends certain aspects of Income Tax Notification No. 27 of 2024. MINISTRY OF FINANCE (Department of Revenu...
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CBDT Amends India-Spain Double Taxation Avoidance Agreement (DTAA)
The Central Board of Direct Taxes (CBDT) has issued a significant amendment to paragraph 2 of Article 13 of the India-Spain DTAA, affecting the taxation of royalties and fees for technical services. L...
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24X7 Control Room to monitor cash movements for General Elections 2024
In preparation for the General Elections to Lok Sabha 2024, the Ministry of Finance, through the Directorate of Income Tax (Investigation), Delhi, has taken significant steps to ensure the integrity o...
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One Lakh Patents Granted: Patent Rules 2024 Simplifies Process
Introduction: The Ministry of Commerce & Industry has recently made a significant announcement, indicating a remarkable surge in patents granted, alongside noteworthy developments in Geographical Indi...
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SEBI Draft Circular: Audiovisual Disclosures in Public Offer Documents
Introduction: The Securities and Exchange Board of India (SEBI) has released a draft circular seeking public comments on the proposal to introduce audiovisual (AV) representation of disclosures made i...
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CBI Nabs GST, Income Tax Officer and Bank Manager in Bribery cases
Introduction: The Central Bureau of Investigation (CBI) has made significant strides in combating corruption by apprehending several government officials involved in bribery cases. This article delves...