News Update

GST - Bench is unaware of educational qualifications of Commissioner or his expertise in chemical science - Instead of discrediting report of ICT, a counter expert opinion ought to have been obtained: HCGST - Observations by Commissioner in order passed u/r 159(5) are not structured on any referable scientific basis - Order for freezing of bank accounts lifted - matter deserves de novo consideration: HCCompanies Act - Mere delay in relieving Employee from duty does not impact acceptance of his resignation: SC (See 'Legal Desk' in - Without a 'cause of action', the 'right of action' is meaningless - There being no real threat of infringement of any of its rights, the petitioner does not have the 'cause of action': HCWinds of change - GST law is no exceptionCus - Law is well settled that writ petitions challenging SCNs ought not to be entertained for the mere asking and as a matter of routine: HCGovt eyeing USD one trillion from exports of goods & services: GoyalGST - Principles of natural justice are to be read into Rule 86A although no such procedure is provided thereunder: HCGovt readies Borrowing Plan for H2 of FY 2021-22GST - Without recording any reason, the invocation of power u/r 86A should be held to be unauthorised, illegal and without jurisdiction: HCUrban SHGs can now avail Rs 40 K Seed Capital through PortalCus - During the complete lockdown period, an extension should have been given by the respondents to the petitioner to properly respond to the SCN - Order set aside and matter remanded: HCIIPA needs to have futuristic vision for next 25 years: MoSST - Once there is no apparent mala fide on the part of appellant, fastening the allegations as that of concealment, fraud and suppression are held to be highly unjustified: CESTATDGTR recommends anti-dumping duty on Gypsum powder or plaster + Hydrofluorocarbon blends + CaprolactamI-T - U/s 260A(1), appeal lies to HC against ITAT's decision only on substantial questions of law, meaning the question of law must be debatable, not previously settled : HCGovt notifies PLI Scheme for TextilesI-T - Power of revision u/s 263 is to be exercised only when both conditions of the assessment order being erroneous as well as prejudicial to Revenue's interests, are satisfied: ITATCOVID-19: Daily caseload plummets below 15000 in India but shoots up in US to 78K and 38 K in UK + Global daily count nosedives to 3.66 lakhI-T - Full value of consideration, recorded in books of accounts, adopted as per Section 45(3) cannot be substituted with market value of property as per section 50C : ITATGovt to create Land Monetisation Corp for CPSEs land assetsI-T - Deduction merits being allowed u/s 24(b) in respect of interest on Home Loan, where property for which such loan was taken, has not yet been acquired: ITATImpact of Cyclone Gulab - Heavy rains triggering waterlogging at many places in VizagI-T - Assessee's appeals merit being dismissed for non-prosecution where the assessee files no written submissions or submits no evidence to justify its case: ITATElectricity shortages turn acute in China; Factories including of Tesla and Apple, face frequent outagesI-T - Additions framed consequent to search operation, are sustainable where based solely on third party entries recovered from flash drive : ITATUS Dy Secretary of State Wendy Sherman to be in India next month for bilateral talksI-T - Additions framed u/s 68, solely on basis of conjectures or surmises, cannot be sustained: ITATSouth Korea mulling ban on dog meat consumption - 10 lakhs dogs slaughtered annuallyFord going for USD 11 billion electric truck investment in Kentucky & TennesseeKerala HC quashes State ban order; rules online rummy is a game of skill24 Naxals lay down arms in Sukma, Chattisgarh
Untitled Document
Winds of change - GST law is no exception
Ketan Tadsare & Dhruv Bhattacharya
September 28, 2021
GST on Tour & Travel Industry - some nagging issues
Shivani Shah
September 24, 2021
The bombshell clarification by GST council
Keshav Maloo
September 22, 2021
Opaque provisions - The lost 'proper officer' - An opportunity to infuse lucidity
Prabhad Dobriyal
September 22, 2021
GSTR-9 - declared Additional liability - payment through cash ledger only?
B S V Somanath
September 20, 2021
Wrong ITC and interest liability
G Natarajan
September 18, 2021
Conundrum of refund in case of inverted duty structure - Climax or Prelude?
Jigar Doshi
September 17, 2021
Taxability of Capital and Revenue Receipts - Dissection of a dichotomy
Dhwani Mainkar
September 14, 2021
ITC on inward supplies used exclusively for exempted outward supplies
Shvetal B Parikh
September 10, 2021
Moving ahead with MOOWR - Some fine tuning required
P S Krishnan,Nimit M Davey & Ganesh M
September 08, 2021
CSR Expense & ITC under GST
Dipti Nayak & Sonal Kawdia
September 07, 2021
RoDTEP scheme - The glass half empty/full debate
Ranjeet Mahtani & Ruturaj Bhide
September 03, 2021
Alternative Tax Regime - whether beneficial?
Lukose Joseph & Jobby George
September 03, 2021