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Exemption from GST on various services provided by Railways & Accommodation Services MINISTRY OF FINANCE (Department of Revenue) Notification No. 04/2024 – Central Tax (Rate) New Delhi Dated: 12th July, 2024 G.S.R. 388(E).—In exercise of the powers conferred by sub-section (3) and sub-section (4) of section 9, subsection …
Supply of agricultural farm produce in package(s) of more than 25 KG/litre shall not be considered supply of ‘pre-packaged and labelled’ goods GOVERNMENT OF INDIAMINISTRY OF FINANCE(Department of Revenue) Notification No. 03/2024-Central Tax (Rate) New Delhi, the 12th July, 2024 G.S.R. …..(E).-In exercise of …
RBI invites E-tender for appointment of Chartered Accountants as Concurrent Auditor for the period from 01.10.2024 to 30.09.2025 Reserve Bank of India, Bhubaneswar has invited E-tender from Category-I Chartered Accountant Firms registered with ICAI for Odisha State under the Two-Bid system (Technical & Financial Bid) for Appointment of …
Commercial expediency – Expression “for the purposes of the business” is wider than “for the purpose of earning profits” – ITAT In a recent judgment, Ahmedabad ITAT has allowed an expenses u/s 37(1) considering Commercial expediency holding that the expression given in section 37 “for the purposes of …
Taxability and valuation of supply of services of providing corporate guarantee between related persons. Circular No. 225/19/2024-GST F. No. CBIC-20001/4/2024-GSTGovernment of IndiaMinistry of Finance (Department of Revenue)Central Board of Indirect Taxes and CustomsGST Policy Wing New Delhi, Dated the 11th July, 2024 To,The Principal …
Revised procedure for electronic submission and processing of GST refund application by CSD CBIC has issued Circular No. 227/21/2024-GST dated 11.07.2024 to lay down the revised procedure for electronic submission and processing of refund application by CSD, in accordance with section 55 of CGST Act, in supersession of …
Mechanism for refund of additional Integrated Tax (IGST) paid on account of upward revision in price of the goods subsequent to exports In order to ensure uniformity in the implementation of the provisions of the law across field formations, the CBIC has issued Circular No. 226/20/2024-GST dated 11th …
Guidelines for recovery of GST outstanding demands, in cases wherein first appeal has been disposed of, till Appellate Tribunal comes into operation CBIC has issued Circular No. 224/18/2024 – GST dated 11th July 2024 for giving following guidelines for recovery of outstanding dues, in cases wherein first appeal …
“LIC Mutual Fund” not ‘Public Financial Institution’, interest payable can not be disallowed u/s 43B In a recent judgment, Hon’ble Calcutta High Court has held that “LIC Mutual Fund” is not “Public Financial Institution” u/s 43B therefore interest payable can not be disallowed on the ground of non-compliance …
Issue decided on merits by ITAT cannot again be subject matter of reopening of assessment under section 147 In a recent judgment, ITAT Delhi has held that once the issue has been decided on merits by the Tribunal, being the highest fact finding authority and a categorical finding …