GST: GSTN has communicated the amount of ITC pertaining to the supplier who have been not filed GSTR-3B for FY 2022-23 for the purpose of reversal of ITC on account of Rule 37A of CGST Rules. [GSTN Advisory dated 14.11.2023]
GST : Madras High Court in case of Caterpillar India (P.) Ltd. vs. Assistant Commissioner held that Recovery can’t be made directly due to difference in GSTR-1 & GSTR-3B without following procedure under Rule 88C of the CGST Rules 2017. Gujarat High Court in case of Bharatkumar Pravinkumar and Co. vs. State of Gujarat held …
INCOME TAX : Calcutta High Court in case of Bangabasi Collage vs. Union of India remanded matter back to Assessing officer in case where assessee’s case was selected for faceless assessment and he prayed for personal hearing through video conferencing, however opportunity of personal hearing could not be availed due to technical difficulties and Assessing …
Income Tax: Exemption is granted from levy of income tax under clause (46) of section 10 of the Income-tax Act, 1961 on certain income of Punjab Infrastructure Regulatory Authority. [Notification No. 97/2023- Income Tax | Dated: 6th November2023]
Income Tax: Exemption is granted from levy of income tax under clause (46) of section 10 of the Income-tax Act, 1961 for fees on publishers and news papers and Interest earned on FDRs and Savings bank accounts to Press Council of India. [Notification No. 98/2023- Income Tax | Dated: 6th November2023]
FTP/DGFT: DGFT Introduced Centralized Video Conference Facility for Exporters. [Trade Notice No. 32/2023-24 dated 6th November 2023]
GST: Government of Rajasthan clarifies the procedures for manual appeal filing under the Rajasthan Goods and Services Tax Rules, 2017. [GST Circular R-1/2023 dated 1st November 2023]
GST: CBIC notified New Monetary Limits for Appeals before SC (Rs. 2Cr) , HC (Rs. 1Cr) & CESTAT (Rs. 50 lacs). [Instruction dated 2nd November 2023]
GST: CBIC prescribed the procedure for condonation of delay in filing of appeals against demand orders passed until 31st March 2023. [Notification No. 53/2023– CT dated 2nd November 2023]
Customs: CESTAT Chennai in case of COMMISSIONER OF CUSTOMS (AIR),CHENNAI – 600027 Vs M/s ECI TELECOM INDIA PVT LTD held that Rejecting refund claim simply on the ground of delay in filing claim before proper authority while admitting that assessee had filed claim before department on time, albeit at a wrong jurisdiction cannot be approved.
RBI/FEMA: RBI Guidelines issued for change in name of Co-operative Banks. [Notification No. RBI/2023-24/79 DoR.REG/LIC.No.55/07.01.000/2023-24 dated 30th Oct 2023]
RBI/FEMA: Clarification issued regarding Shifting of Branches/Offices/Extension Counters within the same city, town or village by District Central Co-operative Banks (DCCBs) and Guidelines on Closure of Branches and Extension Counters by DCCBs. [Notification No. RBI/2023-24/78 DoR.REG/LIC.No.54/1 9.51.052/2023-24 dated 30th Oct 2023]
Company Law: MCA imposes penalty of Rs.5.81 lakh for non-filing of Annual Returns by the company. [Order No. ROC-G/Adj.Pen/u/s. 137(1)/Sagar Green Gold/2396 dated 20th Oct 2023]
Company Law: MCA imposes penalty of Rs.4.85 lakh for non-appointment of Women Director. [Order No. ROC/MUM/Adj/2023/Section 149(1)/5003 To 5006/ RD-73 dated 30th Oct 2023]
Company Law: Amendments to the Companies (Prospectus and Allotment of Securities) Rules, to enhance transparency, efficiency, and accountability in the issuance and management of securities by both public and private companies. [Notification No. G.S.R. 802(E) dated 27th Oct 2023]
Company Law: Amendments to Companies (Management and Administration) Rules, 2014, accordingly every company shall designate a person who shall be responsible for furnishing, and extending co-operation for providing, information to the Registrar or any other authorized officer with respect to beneficial interest in shares of the company. [Notification No. G.S.R. 801(E) dated 27th Oct 2023]
DGFT: Time period extended for 6 months period for accreditation of Halal Certification Bodies and registration of export till 5th April 2024. [Notification No.41/2023 dated 27th Oct 2023]
DGFT: Export of onions is ‘Free’. Minimum Export Price (MEP) of US $ 800 F.O.B per Metric Ton (MT) is imposed till 31st December 2023. [Notification No.42/2023 dated 28th Oct 2023]
Customs: Now export duty on export of Onion HSN 0703 10 is exempted w. e. f. 29th Oct 2023, which was 40% as per Notification No. 48/2023-Customs, dated 19th Aug 2023, accordingly this notification rescinds. [Notification No.61/2023 & 62/2023- Customs dated 28th Oct 2023]
GST: Clarification issued on taxability & valuation of personal guarantee and corporate guarantee in GST. [Circular No.204/16/2023-GST dated 27th Oct 2023]
webinar on “Impact of Decisions of the 57th GST Council Meeting” on 14th October 2026 at 4:00 PM to 6:00 PM
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