Regarding the interpretation of taxation statutes, the parties have relied on several decisions. The law laid down on this aspect is fairly well-settled. The principles governing the interpretation of the taxation statutes can be summarised as follows: A. A taxing statute must be read
The Supreme Court’s recent judgment in the Safari Retreats case has sparked interest across businesses, particularly those engaged in real estate development and commercial leasing. The core issue revolved around whether the construction of malls, warehouses, and other immovable properties would qualify for Input Tax
How it’s a relief when the blockage in both clauses of section 17(5) is upheld by the court? This write up will help you to understand what exactly is pronounced by the Apex court. Since morning we are hearing that there is a big relief
Complete Circulars From 2017 to 2024 : 2024 Circulars : 1. Rule 96 (10) Clarification – Guidance on Rule 96(10) regarding refund of IGST on exports. 2. Place of Supply (POS) for Data Hosting Services – Clarifies the determination of POS for such services. 3.
Deepak Singhal vs. Union of India (Writ Petition No. 21641 of 2024) in points : 1. Court and Judges : Madhya Pradesh High Court, Indore. Judged by Hon’ble Justice Sushrut Arvind Dharmadhikari and Justice Duppala Venkata Ramana. 2. Petitioner : Deepak Singhal, proprietor of
Create a lucrative rental business by investing in multiple properties that guarantee steady income and long-term financial growth. Beyond increasing your rental income and the potential for property appreciation, owning numerous properties can even reduce your tax obligations in the long run. If you know
Expanding Access to Banking and Payments Mobile banking apps have revolutionized how people interact with financial institutions. Today, you can open a bank account, check balances, transfer funds, and pay bills—all from your mobile phone. This is particularly significant in regions where traditional banking infrastructure
In a move that promises to reshape the financial landscape, the Reserve Bank of India (RBI) has mandated lenders to report credit information to Credit Information Companies (CICs) like CIBIL, TransUnion, and Experian on a fortnightly basis. This new directive, effective from January 1, 2025,
1. What is the GSTR-1A form? Answer : GSTR-1A is a GST return form that allows taxpayers to make amendments to their previously filed GSTR-1. It was reintroduced on July 10, 2024, following its suspension in 2017. This form helps in updating sales invoices and
Supreme Court judgment dated August 14, 2024, involving a significant legal issue related to the retrospective application of a court ruling in mining taxation. Summary of the Judgment: 1. Background : – The case involves the overruling of the 1990 India Cement Ltd.
