Table of Contents GST Applicable to Processed Pulses: AAR RulingBrokerage of Agricultural Produce: 18% GST RulingCase Study: Gayatri EnterprisesClarification on GST ApplicabilityAAR’s InterpretationImpact on Business OperationsConclusion: Understanding GST Applicability GST Applicable to Processed Pulses: AAR Ruling In a recent ruling, the Andhra Pradesh authority for
Table of Contents Ex-Income Tax Officials Sentenced for Bribery: A Blow to Corruption in IndiaJudge’s Criticism of Widespread CorruptionRefusal of LeniencySignificance of the Verdict Ex-Income Tax Officials Sentenced for Bribery: A Blow to Corruption in India A recent verdict by a CBI court has brought
Table of Contents Background:Legal Issue:Court’s Ruling:Importance of Valid ITC Claims:Rejection of Entire ITC Claim:Quashing of Impugned Orders: Background: In a recent case (Writ Petition No. 3804 of 2024 dated February 20, 2024), the Hon’ble Madras High Court ruled in favor of Sri Shamunga Hardwares Electricals
Table of Contents Gang Arrested for Fraudulent GST Refund Scheme in LudhianaInitiation of InvestigationMagnitude of DeceptionSwift Action and Legal ProceedingsContinued Efforts and CrackdownConclusion Gang Arrested for Fraudulent GST Refund Scheme in Ludhiana Authorities in Ludhiana have made significant strides in dismantling a gang responsible for
Table of Contents Ajay Bhushan Pandey, NFRA Chairman, Emphasizes Focus on Audit QualityNFRA’s Mandate and Inspection FocusProtecting Investor Interests in a Digital EraSignificance of Company Audit CommitteesEngagement Strategies with Audit CommitteesJurisdiction and Future EndeavorsAddressing Concerns on Non-Audit ServicesConclusion Ajay Bhushan Pandey, NFRA Chairman, Emphasizes Focus
Table of Contents CBDT Allows Rectification of Incorrect Audit Report Forms for A.Y. 2023-24Income Tax Exemption CriteriaRequirement of Audited AccountsPrescribed Audit Report FormsChanges in FormsRectification OpportunityEnsuring Compliance CBDT Allows Rectification of Incorrect Audit Report Forms for A.Y. 2023-24 In a recent development, the Central Board
Table of Contents Real Estate Firms Seek Relief from GST AuthoritiesChallenges Encountered by the Real Estate IndustryReview Process by the Finance MinistrySPVs as Enablers of Joint VenturesTax Obligations and Uncovered EvasionConclusion Real Estate Firms Seek Relief from GST Authorities Real estate firms across India are
Table of Contents IntroductionIdentification of DiscrepanciesCommunication with TaxpayersDeadline for ComplianceConclusion Introduction In a bid to bolster tax transparency and ensure compliance among taxpayers, the Income Tax Department has taken proactive steps to address discrepancies in financial transaction information. Through the Annual Information Statement (AIS) module,
Table of Contents Deceptive Scheme UnveiledSwift Response and Legal ActionConclusion Deceptive Scheme Unveiled A startling incident unfolded in Market Yard involving a deceptive scheme orchestrated by a group of five individuals masquerading as officers from the Goods and Services Tax (GST) department, accompanied by one
Table of Contents IntroductionGovernment RecognitionRBI Circular: Facilitating Financial InclusionConclusion: Driving Growth and Inclusivity Introduction The Ministry of Micro, Small and Medium Enterprises took a major step towards simplifying the registration process for Informal Micro Enterprises (IMEs) with the launch of the Udyam Assist Platform on
