Category: Articles Page

GSTN Issues Advisory on Issuance of Notices/Orders without Digital Signatures of the Issuing Authorities

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 …

Full Article

No Comments

EY Employee’s Death Sparks Outcry Over Unpermitted Operations of Pune Office Since 2007

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 …

Full Article

No Comments

MCA Notifies Companies (Accounts) Amendment Rules, 2024

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 …

Full Article

No Comments

GSTN CEO Confirms Completion of Design Architecture for B2C E-Invoicing for Retailers

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 …

Full Article

No Comments

Rs 382 Crore Tax Notice Exposes Aadhaar and PAN Misuse Scam in Thane with Multiple Bank Accounts

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 …

Full Article

No Comments

SC Requests Income Tax Department’s Response to Notices Sent to Panel Assisting in Property Sealing

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 …

Full Article

No Comments

CBIC Official: Data Discrepancies Behind Most GST Show-Cause Notices in 2023-24

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 …

Full Article

No Comments

Infosys May Get Full Relief on Reverse-Charge GST as CBIC Considers Key Modifications

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 …

Full Article

No Comments

GoM Unlikely to Offer Relief to Real Estate Sector on Joint Development Agreements

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 …

Full Article

No Comments

7 Arrested for Rs 900 Crore GST Scam Involving 48 Shell Companies

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 …

Full Article

No Comments

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh

-------------------------------------------------------------------------------------------------------