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No service tax levy on Composite Works Contracts prior to the introduction of the Finance Act 2007 – Supreme Court ABCAUS Case Law Citation ABCAUS 3606 (2022) (08) ICAI Important Case Laws involvedG. D. Builders Vs. Union of India, (2013) 32 STR 673 (Delhi)Commissioner, Central Excise and Customs, …
Rule 17AA Books of account and other documents to be kept and maintained by Charitable Trusts/other Institution – CBDT Notification Section 12A related to eligibility of charitable trusts and/or Institutions has been amended. Clause (b) of sub-section (1) of section 12A by the Finance Act, 2022 had been …
Once dispute settled and complainant not interested in pursuing case, ICAI was not justified holding CA guilty of professional misconduct – Supreme Court dismisses SLP of ICAI ABCAUS Case Law Citation ABCAUS 3605 (2022) (08) ICAI A complaint was filed before ICAI by a Chartered Accountant against another …
CBDT prescribes conditions/records for Covid-19 related relief to employees u/s 17(2) and in Transfer of Immovable Properties u/s 56(2)(x) Section 56(2)(x) of the Income Tax Act 1961 provides for deemed sale consideration of an immovable property in the hands of the purchaser/buyer. According to the section, the difference …
Single Click Nil Filing of GSTR-1 Return – Guide In order to further simplify the return filing experience a single click NIL filing of GSTR-1 has been introduced on GST Portal. Taxpayers can now file NIL GSTR-1 return by simply ticking the check box File NIL GSTR-1available at …
GST applicability on liquidated damages, compensation and penalty arising out of breach of contract or other provisions of law CBIC has issued Circular No. 178/10/2022-GST dated 3rd August 2022 clarifying GST applicability on liquidated damages, compensation and penalty arising out of breach of contract or other …
CBIC issues clarification on GST rates & classification (goods) based on the recommendations of the GST Council in its 47th meeting CBIC has issued Circular No. 179/11/2022-GST dated 3rd August 2022 giving Clarification regarding GST rates & classification (goods) based on the recommendations of the GST …
CBIC Clarifications on applicable GST rates & exemptions on certain services CBIC has issued Circular No. 177/09/2022-TRU dated 3rd August 2022 issuing Clarifications regarding applicable GST rates & exemptions on certain services. The CBIC had received representations seeking clarification several issues: Accordingly, clarifications has been issued on …
Rules regarding section 10(4E) of the Income tax Act, 1961 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 87/2022 New Delhi, the 1st August, 2022 INCOME-TAX G.S.R. 610(E).—In exercise of the powers conferred by clause (4E) of section 10 read with section 295 …
CBIC issues guidelines on extension of customs clearances beyond normal working hours in Inland container depots CBIC has considered the representations of the trade for extension of the facility of 24×7 Customs clearance to ICDs across the country. The CBIC has advised all the Pr. Chief / Chief …
