News Update

Centre argues SC cannot criminalise marital rapeIsrael bombards Hezbollah intelligence Has in BeirutCabinet recalibrates all agri schemes under two canopy schemes with Rs 1 lakh crore investmentGST - whether construction of immovable property constitutes a 'plant' - SC refrains from final determination of issue; remands matter to High Court; emphasizes need to probe each case on merits & by using Functionality test - Clauses (c) & (d) of Section 17(5) not found to be discriminatory: SCGST - To give plain interpretation to clause (d) of Section 17(5), the word 'plant' will have to be interpreted by applying the functionality test: SCGST - If a building in which premises are situated qualifies for definition of plant, ITC can be allowed on goods & services used in setting up such plant: SCGST - Right to ITC is conferred solely by the statute; no one can claim ITC as a matter of right unless it is expressly provided in the statute - Legislature reserves right to carve out exceptions to entitlement of ITC u/s 16 of CGST Act: SCGST - That provisions could have been drafted in a better manner or more articulately, is not sufficient to attract arbitrariness: SCDEA, IEG to hold Conclave themed 'The India Era' in DelhiI-T - TOLA Act, 2021 will extend to time limit for issuing notices for re-assessment under Income Tax Act: SC LBPM to address Kautilya Conclave starting on FridayCX - It is clear that by a resolution process, the company continues its business and only by a liquidation process, the business of the company would be wound up - Tribunal ex facie erred in holding that by virtue of Rule 22 of CESTAT (Procedure) Rules, 1982, appeal would abate: HCGoyal interacts with business leaders and investors in NYCX - Revenue not having made any claim before IRP during CIRP process and the demand not having been part of the resolution plan, same has stood extinguished and cannot be continued: HCFM participates in Credit Outreach Program in ItanagarGST - Cancellation of Registration on the pretext of violation of Rule 86B is a disproportionate punishment: HCAdani Group, Google join hands for clean energy supply in IndiaGST - Rule 86B of the Act has no statutory backing and appears to be ultra vires the provisions of the Act, 2017: HCGST - It shocks the conscience of the Court to find an extreme penalty of the nature of cancellation of Registration being imposed on the basis of a 'prima facie' investigation conducted: HCGST - Notice is dated 04.04.24, therefore, order should have been passed at least on 12.04.24, 11 th being a public holiday - Authority having delayed the matter, mandate of s.129(3) not followed - Order set aside: HCIndo-American CEO Forum debates tie-up in defence and semiconductorsGST - Registration was cancelled and, therefore, petitioner could not access notices uploaded on portal - Consequently, they failed to file reply and impugned order was passed - Liberty granted to petitioner to file appeal: HCGST - Petitioner did not file any appeal but approached Court when recovery notices were issued - Liberty given to file appeal subject to payment of Rs.5000/- in each petition by way of DD favouring Government Yoga and Naturopathy Medical College: HCGST - There is no provision where CBIC is required to issue clarifications on separate queries raised by taxpayers directly: HCTIOL Awards: A Sangam of high-octane fiscal & monetary thoughts!BIS Upcoming QCO Affecting Major Industries in the Supply ChainTIOL Tax Congress 2024Ministry of Heavy Industries launches PM E-DRIVE SchemeEU to vote on Friday for tariff on Chinese EVsMinistry of Coal to institutionalise cleanlinessIndore sends back 22 beggars to their native places in RajasthanCAQM deploys Flying Squads to monitor paddy stubble burning in Haryana and PunjabBlast in UP cracker factory - 3 killedUS port strike upends supply chain in many citiesI-T- No appeal shall be filed where the tax effect is below the prescribed threshold : ITATUS disfavours Israeli strike on Iranian N-sitesI-T- The statement of surrender has got to be accepted in toto or has got to be ignored: ITATIranian President says Not interested in war but will respond ifH5N1 takes toll of 47 tigers in Vietnam zoos


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