Instruction regarding implementation of the judgment of the Hon’ble Supreme Court in the case of Pr. CIT (Central-3) v/s Abhisar Build well Pvt. Ltd. (Civil Appeal No. 6580 of 2021)
The Safe Harbour Rules for Transfer Pricing were introduced by the Finance Act, 2009 to reduce the transfer pricing disputes, provide certainty to taxpayers, align safe harbour margins with industry standards, and expand the scope of safe harbour transactions.
Discipline regarding penal action under various tax laws are widely discussed. Two interesting recent cases under Income Tax allows one to reflect further.
Assessments of EPC contractors cannot be done merely by assuming and comparing accounts with Form 26AS same is applicable even for professionals
Interest as credit card services is leviable to GST… Interest on loan is not – Banks may seek clarity from GST Council
Vide Notification No. 23/2023 dated 3rd August 2023 issued by the DGFT, with immediate effect, import of laptops, tablets, palmtops, all-in-one personal computers, and ultra-small form factor computers and servers falling under HSN 8741 will be 'restricted' and their import would be allowed only against a valid licence for restricted imports
The recent amendments in the Income Tax Act have provided much-needed relief to co-operative sugar factories operating in India by allowing deductions for sugarcane purchases made at or below the government-approved price. T
One more set of notifications have been issued under GST, even as we await the 51st GST Council Meeting to be held on 2nd August 2023.
EV Vehicles charging stations to provide ‘battery charging service’ and not supply or distribution of ‘electricity’ – liable to GST @ 18%
Analysis of Rate Notifications issued post 50th GST Council Rate Decisions