Advisory on filing of annual returns by composition taxpayers in case of negative liability in GSTR-4
The Goods and Services Tax Network (GSTN) has issued an Advisory dated July 22, 2021 on filing of annual returns […]
Important News
Important Pronouncements
Penalty cannot be imposed merely because it is lawful to do so
In M/s Mangalore Refinery and Petrochemicals Limited v. the State of Karnataka [S.T.R.P. No. 433 of 2017 decided on July
Important Pronouncements
No penalty leviable unless the conduct of the assessee is found to be contumacious
In M/s. Aanya Real Estate Pvt. Ltd. v. Deputy CIT [IT A No. 115/Mum/2020 decided on July 20, 2021] M/s.
GST Recent News
Centre begins review of legal issues in GST
The Centre has begun a comprehensive review of the goods and services tax (GST) law, as well as various rules pertaining to
News
Finance Ministry expects new income tax portal to function normally from first week of August
Finance Ministry is expecting that tech issues of the new Income Tax (I-T) portal will be resolved soon and the
Press Release, Press Release
Government includes Retail and Wholesale Trade as MSMEs
From July 02, 2021, the Government has included Retail and Wholesale Trades as MSMEs. The Government, vide notification no. S.O.
News
Income Tax department asks cryptocurrency exchanges for information on trades
At a time when most cryptocurrencies have lost value due to continued weakness, the Income-Tax (I-T) Department’s recent action may
Press Release, Press Release
Various measures taken by MCA to fight COVID-19 pandemic
The Ministry of Corporate Affairs (MCA) primarily administers the provisions of the Companies Act, 2013 (the Act), the Limited Liability
Important Pronouncements
Order dismissing appeal without assigning necessary reasons not sustainable and is cryptic in nature
The Hon’ble Patna High Court in Pankaj Sharma vs. UOI & Ors. [Civil Writ Jurisdiction Case No. 7431 dated June
GST Recent News
Rs 81,179 crore due to states as GST compensation for FY21
Over Rs 81,000 crore GST compensation is due to states for 2020-21, while for April-May this year, Rs 55,345 crore is outstanding, Parliament was