Doubts have been created regarding the validity of documents issued by the tax officers on the common portal viz. Show cause Notices, Order of Assessment, Refund Orders etc. which are not containing the Digital signatures on the pdf. document downloaded from the common portal. In this …
The recent dreadful mishap where 26-year-old Anna Sebastian Perayil died at the Ernst & Young (EY) office in Pune raises many questions about the workplace practices of the accounting firm. Official documentations show that EY has been running its operation without a legal state permit, potentially …
On September 24, 2024, the Ministry of Corporate Affairs (MCA) issued Notification No. G.S.R. 587(E), introducing significant amendments through the Companies (Accounts) Amendment Rules, 2024. These amendments are aimed at streamlining corporate governance and enhancing transparency in the filing and maintenance of company accounts. In exercise of …
The design architecture for implementing GST e-invoicing for retailers is nearly finalized and undergoing expert review, according to GST Network CEO Manish Kumar Sinha. Speaking at an Assocham event, Sinha highlighted the ongoing discussions with industry stakeholders to facilitate the issuance of electronic invoices for every …
A shocking case has emerged from Thane’s Diva, where a local real estate agent received an income tax notice accusing him of being involved in transactions amounting to ₹382 crore. This unexpected situation turned out to be a complex financial scam that exploited the agent’s personal …
The Supreme Court has requested a response from the Income Tax Department regarding notices issued to a committee assisting the court in sealing residential premises used for commercial purposes. The court also summoned the concerned tax officer for an explanation. Justices AS Oka and Pankaj Mithal …
A significant number of the show-cause notices issued to taxpayers under the GST regime in 2023-24 stemmed from data discrepancies in tax return filings, a senior indirect tax official said on Tuesday. Efforts are now underway to leverage technology to resolve these mismatches and ease the …
The Central Board of Indirect Taxes and Customs (CBIC) is considering amending its June 26, 2024, circular to quash Goods and Services Tax (GST) liabilities for Infosys and similar companies facing tax demands on fund transfers to their overseas branches. According to an official source, this …
Most members of the Group of Ministers (GoM) of the Goods and Services Tax (GST) Council have indicated they are not in favor of providing any tax relief to the real estate sector concerning Joint Development Agreements (JDAs). Despite ongoing deliberations, the GoM is expected to …
In a major breakthrough, Uttar Pradesh police uncovered a large-scale GST fraud syndicate, arresting seven individuals in Muzaffarnagar on Tuesday. The group had been operating 48 shell companies to issue fake GST invoices worth Rs 900 crore, causing a revenue loss of approximately Rs 125 crore …
