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Articles by CA Kunal Jain

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Mutual Fund Transactions Treated as Investments, Not Business Activities

  CA Kunal Jain    22 January 2024 at 13:26

The appeal in question pertains to the Assessment Year (AY) 2006-07, involving a second round of litigation after the Income Tax Appellate Tribunal (the Tribunal) passed an order dated 16.10.2018.



Unveiling Professional Misconduct: NFRA's Order on Seya Industries Limited's Statutory Audit

  CA Kunal Jain    19 January 2024 at 14:20

In a recent development, the National Financial Reporting Authority (NFRA) has issued a consequential order shedding light on the statutory audit of Seya Industries Limited for the financial years 2018-19 and 2019-20.



Filing Options for GTA Taxpayers in GST

  CA Kunal Jain    06 January 2024 at 14:06

The government has introduced new rules for Goods and Services Tax (GST) filings for Goods Transport Agency (GTA) taxpayers.



Navigating E-commerce TDS: A Detailed Guide

  CA Kunal Jain    02 January 2024 at 14:00

The latest circular on TDS (Tax Deducted at Source) for online transactions brings some key clarifications. Don't get lost in the technical jargon - This detailed guide simplifies it all!



Suncraft Energy Triumphs: No Unfair Tax Burden for Supplier's Slip-up

  CA Kunal Jain    16 December 2023 at 08:14

In a landmark case, Suncraft Energy has emerged victorious against the Assistant Commissioner of State Tax, Ballygunge Charge, defying a demand for automatic reversal of input tax credit (ITC).



Zyfin Research Secures Landmark CENVAT Credit Refund: A Detailed Breakdown

  CA Kunal Jain    12 December 2023 at 09:05

Zyfin Research Pvt. Ltd., a leading research and data support provider, triumphs in its battle for the refund of accumulated CENVAT credit.



Inclusion of Scrap Value in Assessable Value of Job Worker

  CA Kunal Jain    11 December 2023 at 09:07

Background:This appeal challenges the inclusion of the value of scrap, cleared on payment of duty, in the assessable value determined on the basis of the sale p..



Indian Online Gaming Industry Under Siege: A Comprehensive Look at Tax Evasion Crackdown

  CA Kunal Jain    09 December 2023 at 09:01

The Indian online gaming industry is facing a major tax evasion crackdown, with authorities accusing companies of evading over ₹1.12 lakh crore (US$13.7 billion) in GST.



NFRA Imposes 5 Lakh Penalty and 10-Year Ban on Two Auditors of BHPL over Audit Lapse

  CA Kunal Jain    08 December 2023 at 09:21

This Order by the NFRA disposes of the SCN issued to CA Jignesh Mehta, a member of ICAI and the Engagement Partner (EP) for the statutory audit of Dewan Housing Finance Corporation Limited (DHFL) for the Financial Year 2017-18.



Understanding GST ITC and GSTR Forms

  CA Kunal Jain    05 December 2023 at 09:06

This comprehensive article delves into the intricacies of Input Tax Credit (ITC) under the Goods and Services Tax (GST) regime, with a specific focus on GSTR Forms 2A, 2B, and 3B. It aims to equip you with the knowledge and understanding necessary to navigate the complexities of claiming and utilizing ITC efficiently.