Author: administrator
ITC for goods delivered by supplier at his place of business under Ex-Works Contract CBIC has issued Circular No. 241/35/2024-GST dated 31.12.2024 clarifying availability of input tax credit as per clause (b) of sub-section (2) of section 16 of the Central Goods and Services Tax Act, 2017 in …
CBIC Clarification on place of supply of Online Services supplied by the suppliers of services to unregistered recipients CBIC has issued Circular No. 242/36/2024-GST dated 31.12.2024 clarifying on place of supply of Online Services supplied by the suppliers of services to unregistered recipients. CBIC was informed by field …
CBIC clarification on reversal for ITC availed by electronic commerce operators CBIC issues Circular No. 240/34/2024-GST dated 31.12.2024 clarifying in respect of input tax credit availed by electronic commerce operators where services specified under Section 9(5) of Central Goods and Services Tax Act, 2017 are supplied through their …
Clarification on various issues pertaining to GST treatment of vouchers CBIC has issued Circular No. 243/37/2024-GST dated 31.12.2024 clarifying various issues with respect to vouchers such as whether transactions in voucher are a supply of goods and/or services, whether GST is leviable on trading of vouchers by distributor/sub-distributor …
No deduction of income-tax under Chapter XVII on payments received by a credit guarantee fund established and wholly financed by the Central Government and managed by the National Credit Guarantee Trustee Company Limited MINISTRY OF FINANCE(Department of Revenue) Notification No. 2/2025 New Delhi, the 2nd January, 2025 (INCOME-TAX) S.O. …
No deduction of income-tax under Chapter XVII on the payments received by the National Credit Guarantee Trustee Company Limited MINISTRY OF FINANCE (Department of Revenue) Notification No. 1/2025 New Delhi, the 2nd January, 2025 (INCOME-TAX) S.O. 19(E).—In exercise of the powers conferred by sub-section (1F) of section 197A …
No deduction of tax to be made under the provisions of section 194Q of the said Act by a buyer, in respect of purchase of goods from a Unit of International Financial Services Centre- CBDT MINISTRY OF FINANCE(Department of Revenue) Notification No. 3/2025 New Delhi, the 2nd January, …
Revision u/s 263 upheld as AO accepted creditworthiness of lender merely on the basis of acknowledgement of ITRs In a recent judgment, ITAT Pune has upheld the revision u/s 263 where Assessing Officer accepted the creditworthiness of the lender merely on the basis of the copies of the …
Clarification regarding treatment & accounting of refund of TDS pertaining to Foreign Contribution The Ministry of Home Affairs (FCRA Division) has issued a clarification regarding refund of TDS pertaining to Foreign Contribution. The clarification has been issued in response to the repesentation received from Associations over the difficulties …
Delay of 1 and ½ years cannot be considered as inordinate delay unless negligence or want of due diligence on the part of assessee is shown – ITAT In a recent judgment, ITAT Cuttack while condoning the delay in filing appeal observed that delay of 1 and ½ …
