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CGST Act Ruling: Determining Intent to Evade Tax in Vijay Trading Company v. Additional Commissioner
In a landmark ruling by the Allahabad High Court on August 20, 2024, the case of Vijay Trading Company v. Additional Commissioner ...
Unveiling the Unknown: Shree Renuka Sugars Limited Faces Penalty for Wilful Default and Incorrect Tax Credit Usage
Navigating the complex waters of finance and taxation can be challenging, especially for large companies like Shree Renuka Sugars...
Key Tax Compliance Deadlines for December 2024: What You Need to Know
December is a crucial month for tax compliance, and 2024 is no different. As the year ends, several important deadlines for tax filings...
The Impact of MCA's Mandatory Dematerialization on Non-Small Private Companies: An Uncertain Compliance Timeline
The world of corporate management in India is rapidly evolving, especially with the Ministry of Corporate Affairs (MCA) rolling out new...
Is the Penalty of only Rs 20,000 for ITC Mismatch in Maharashtra Unjustifiably Low for Adani Enterprises Ltd?"
On December 4, 2024, the Deputy Commissioner of State Tax in Maharashtra imposed a penalty of Rs 20,000 on Adani Enterprises Limited....
Challenging GST Registration Cancellation: The Story of Ashok Kumar (M/S Surya Sales Corporation)
In a corporate landscape where compliance is king, the tale of Ashok Kumar and M/S Surya Sales Corporation stands as a testament to the...
No Penalty if eway bill generated with clerical error
In the case of M/S Indeutsch Industries Private Limited V. State of UP, the Allahabad High Court Passed its judgement on 02 Feb 2024 that...
How to do Invoice ageing for Sec 43B(h) in Excel ?
Section 43B(h) of Income Tax Act 1961 provides that any sum payable to micor or small enterprise must be paid within 45 days (prescribed...
ITC not allowed to Purchaser if Seller defaults in GST Filing
The Patna High court in the following case has clearly passed the decree that ITC not allowed to purchaser if seller defaults in GST...
Good News ! for MSMEs by RBI Tred Guidelines
To ease constraints faced by Micro, Small and Medium Enterprises (MSMEs) in converting their trade receivables to liquid funds, the...
Invest in Tax Free Sovereign Gold Bonds 2023-24 Scheme by RBI
Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes for holding physical gold....
Finalization of Balance Sheet with #GST Perspective
During finalisation of accounts, the following points are to be considered while finalisation of such assets. 1. Blocked/ Ineligible...
Can we claim #GST #ITC on Ola/Uber and Other Cab Charges ?
The scope of restriction under section 17(5) of the CGST Act was widened by placing restriction on rent-a-cab to leasing, renting or...
Can we claim ITC on purchase of Motor Vehicle ?
ITC is blocked on certain types of motor vehicles even though they may be used in the course or furtherance of business. This would be so...
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