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Legal Principle on Adjournments in Tax Proceedings: Natural Justice Meets Swift Justice
Understanding Section 75(5) of CGST Act: Balancing Natural Justice with Procedural Efficiency 1. Introduction to the Legal Framework The Central Goods and Services Tax Act contains crucial provisions...
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Unexplained Expenditure: A Commentary on Section 69C
1. Introduction to Section 69C Section 69C of the Income Tax Act, 1961 deals with unexplained expenditure. This provision empowers the tax authorities to deem any unexplained expenditure as income of...
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Unexplained Money and Assets Under Section 69A of Income Tax Act
1. Introduction to Unexplained Money and Assets Section 69A of the Income Tax Act provides for the taxation of unexplained money, bullion, jewelry, or other valuable articles found in the possession o...
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Unexplained Investments Under Income Tax Section 69: Analysis and Implications
Unexplained Investments Under Section 69 of the Income Tax Act 1. Introduction Unexplained investments refer to investments made by an assessee that are not recorded in the books of accounts maintaine...
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Understanding Supply Classification in GST: Goods vs Services
1. Introduction to Classification under GST The Goods and Services Tax (GST) framework in India requires precise classification of transactions as either supply of goods or supply of services. To elim...
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GST Treatment of Restaurant Services in India
1. Overview1.1 Introduction to Restaurant Services under GSTSince the rollout of Goods and Services Tax (GST) in India in 2017, the hospitality industry, especially the restaurant segment, has undergo...
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GST Implications on Disposal of Capital Goods: Comparative Analysis of Rule 40(2) and Rule 44(6)
Tax Treatment for Sale of Capital Goods Under GST: Comparing Rule 40(2) and Rule 44(6) 1. Introduction to GST on Capital Goods Disposal (i) Basic Principle When an assessee sells capital goods on whic...
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GST Implications on Sale of Developed Land Plots: Analysis of Legal Provisions, CBIC Clarifications, and Gujarat AAR Rulings
GST Implications on Developed Plot Sales: Navigating Regulatory Clarity1. Introduction to the Taxation FrameworkThe application of Goods and Services Tax (GST) on transactions involving developed land...
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Overview of Section 56(2)(viib) Relief for DPIIT-Recognised Startups
Understanding the Angel Tax Exemption for DPIIT-Registered Startups Under Section 56(2)(viib) 1. Overview of Angel Tax Provisions (i) Legislative Framework Section 56(2)(viib) of the Income Tax Act, 1...
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EXAMINING THE TAXATION OF PRICE DIFFERENTIALS BETWEEN TRANSACTION VALUE AND MARKET VALUE UNDER GST
1. INTRODUCTION TO THE GST COMPLIANCE LANDSCAPEThe Goods and Services Tax (GST) regime in India has presented numerous challenges for assessees as authorities intensify their scrutiny of returns and d...
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Exploring the Application of Section 50C on Leasehold Rights in Land – Analysis from a Bombay High Court Decision
Applicability of Section 50C on Leasehold Rights Transfer: Analysis of Recent Bombay High Court Decision1. Introduction to Section 50C ProvisionsSection 50C of the Income-tax Act, 1961 establishes tha...
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GST IMPLICATIONS FOR RESIDENTIAL HOUSING SOCIETIES AND EXEMPTION PROVISIONS
1. Overview of GST on Housing Society MaintenanceModern residential living increasingly involves housing societies where members contribute maintenance charges for common facilities and services. Thes...
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Auditor's Relief: Gujarat High Court Dismisses Non-Disclosure Allegation
STATUTORY AUDITORS PROTECTED: GUJARAT HIGH COURT DISMISSES FIR IN RPT DISCLOSURE CASE1. Introduction to the CaseThe Gujarat High Court has delivered a significant judgment providing relief to statutor...
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Strengthening Director Accountability: A Comprehensive Analysis of SEBI LODR and Companies Act, 2013 Requirements
1. Background and ContextThe governance landscape for directors of listed entities has undergone significant transformation with the implementation of SEBI (Listing Obligations and Disclosure Requirem...
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GST on Rental and Lease Transactions: Residential and Commercial Properties (RCM & FCM)
GST on Property Rentals and Leases: Understanding RCM and FCM Applications1. Introduction to GST Applicability on Property TransactionsThe Goods and Services Tax (GST) framework in India establishes s...
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Entitlement to ITC Refund Under Inverted Duty Structure Prior to July 18, 2022: Judicial Confirmation
1. Judicial Precedents Establishing Refund RightsThe legal position regarding refund claims for Input Tax Credit (ITC) under Inverted Duty Structure (IDS) prior to July 18, 2022, has been conclusively...
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Amalgamation and the Complexities of Taxation Disputes
Unraveling the Tax Implications of Amalgamation: A Complex Web of Controversies1. Understanding Carry Forward of Losses in Business ReorganizationsThe Income Tax Act provides specific provisions allow...
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Preparing for a GST Audit: Essential Preparations and Concentration Areas
GST DEPARTMENTAL AUDIT PREPARATION: A COMPREHENSIVE GUIDE1. INITIAL RESPONSE TO AUDIT NOTIFICATIONWhen an assessee receives a GST audit notice, the immediate action should be a thorough examination of...
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Interest on Misused and Utilized Input Tax Credit in GST
Interest on Wrongly Availed and Utilized Input Tax Credit: A Comprehensive Analysis1. Introduction to the Legislative AmendmentThe Central Goods and Services Tax (CGST) Act, 2017 underwent a significa...
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Jurisdictional Limits of AAR & AAAR Concerning Tax Matters Under the Finance Act 1994
Decision OverviewThe Telangana Appellate Authority for Advance Ruling (AAAR), in the case regarding Ms. Maddi Seetha Devi [Order-in-Appeal No. AAAR/03 of 2025 dated February 20, 2025], concluded that...