Taxation of cryptocurrency under GST hinges on classification as supply of goods or services, affecting incidence and valuation.
Classification of cryptocurrency dealings as either supply of goods or supply of services determines GST incidence: transfers of crypto may constitute taxable supply (including barter-like exchanges), while mining and platform activities constitute services liable to GST. Valuation is proposed by reference to an INR or freely convertible currency equivalent, and bringing exchanges, miners and wallet providers under GST coverage is urged to address enforcement and cross-border tax treatment. (AI Summary)

Input tax credit restriction limits eligible credit claiming and faces challenge for lack of statutory authority.
The article explains that a subordinate rule introduced a cap on input tax credit claimable in GSTR-3B where supplier-uploaded details in GSTR-2A/2B are absent, and that successive notifications reduced that cap. It argues the rule was made without explicit statutory authority since the enabling statutory provision prescribes only the manner of availing credit, and observes a legislative provision linking ITC to supplier furnishing of outward details exists but is not yet in force; taxpayers should ensure supplier compliance. (AI Summary)

Borrowing powers of charitable companies: boards may borrow under memorandum and articles, subject to shareholder limits and approvals.
Charitable companies may borrow where their memorandum and articles authorise it; the board may exercise and delegate the power to borrow subject to the Companies Act, constitutional limits and any shareholder approval required when aggregate borrowings exceed paid-up share capital plus free reserves, while temporary bank loans in the ordinary course are excluded from that threshold and governmental approvals may impose additional conditions. (AI Summary)

Distinct person registration requirement: corporate debtor under CIRP must secure fresh GST registration despite prior cancellation.
Where an IRP/RP is appointed the corporate debtor is treated as a distinct person and, if running as a going concern with turnover above the statutory threshold, must obtain fresh GST registration in each State/Union territory where it was earlier registered; a suo moto cancellation by tax authorities is not by itself a valid ground to refuse such new registration, and Section 238 of the IBC overrides conflicting provisions. (AI Summary)

Seizure of goods: provisional release should not permit indefinite delay in issuing show cause notices against importers.
Seizure under the Customs Act requires a recorded reason to believe based on facts; provisional release of seized goods does not license indefinite delay in issuing a show cause notice. Although amendment exempts provisionally released goods from the strict six month issuance rule, courts have stressed that seizure is a drastic step needing prompt adjudication. Authorities should record reasons for extensions, inform affected persons, and issue show cause notices within a reasonable period consistent with principles of natural justice. (AI Summary)

Re-registration under Section 12AB mandates electronic time limited registrations with renewal and separate 80G donor deduction filings.
The Finance Act, 2020 replaces the prior registration regime with Section 12AB, requiring all previously registered or approved non-profit entities to reapply electronically to retain tax-exempt status; registrations are time-limited, provisional registration is available for non-operational entities, the tax authority issues a Unique Registration Number upon approval, and separate filings are required to secure donor-deduction eligibility under 80G. (AI Summary)

Presumptive taxation scheme: deem business or professional income to simplify compliance while conditioning audit and record requirements.
Presumptive taxation permits qualifying resident businesses and professionals to compute taxable income by treating a prescribed proportion or vehicle based amount of turnover/receipts as deemed profits, with electronic receipts attracting a different rate where specified. Eligible categories, turnover/receipt ceilings, exclusions (certain professions, commission/agency, LLPs), and the deemed treatment of deductions and depreciation are stipulated. Claiming income lower than deemed amounts generally requires maintenance of books, audit and possible regular assessment; contravention can disqualify benefit for a multi year period. (AI Summary)

GST classification of cryptocurrency affects taxability of transactions, with supply, barter, commission and reverse charge implications.
The article analyses GST treatment of cryptocurrencies by focusing on their classification as goods, money, or services. If treated as goods/property, transfers (including barter and exchange) are taxable supplies under Section 7 and attract GST on transaction value; if treated as money, pure monetary transactions are excluded. Exchanges' commissions and margins are taxable. Intermediary arrangements yield separate taxable transactions, and the reverse charge mechanism applies where suppliers are unregistered. Mining yields service taxation only when miners receive reward as consideration. (AI Summary)

Electronic Way Bill compliance requires pre movement digital consignment details and permits re generation in exceptional circumstances.
Electronic Way Bill requires pre movement uploading of consignment and transporter details on the GST portal and issuance of a unique e way bill number; it consists of Part A (consignment and invoice particulars) and Part B (transporter details). Obligations to generate rest with consignor, consignee or transporter as applicable; validity is time and distance based, cancellable within a short window unless verified in transit, and may be re generated in exceptional circumstances by supplying the prior e way bill number with updated Part B. (AI Summary)

FCRA Account designation required: foreign contributions must be received into designated FCRA Account at specified SBI New Delhi branch.
Every person authorised to accept foreign contribution must receive such funds only into a designated FCRA Account. The amended law requires initial inflows to the specified State Bank of India New Delhi Main Branch (NDMB) while permitting additional FCRA Accounts in scheduled banks for keeping or utilisation; no non foreign funds may be deposited. Applicants for registration or prior permission must file prescribed electronic forms with affidavits and notify account openings to the Ministry within fifteen days. (AI Summary)

Unnecessary document requisitions burden taxpayers by ignoring existing e-records, causing inefficiency and increased litigation risk.
Assessing Officers at the National e-Assessment Centre are issuing broad, repetitive requisitions that ignore available electronic filings and departmental records, imposing unnecessary burdens on a registered society. Duplicate demands covered trust deeds, registrations, audited accounts, TDS returns, bank statements and explanations for accumulations-matters already on record-reflecting a prejudiced, investigative approach rather than targeted enquiry. This practice wastes administrative and taxpayer time, risks contentious additions and litigation, and calls for AOs to verify e-records and act in good faith. (AI Summary)

CGST rule amendments expand revocation, refund and e waybill procedures, including extended timelines and withdrawal and tracking measures.
The CBIC amended CGST Rules to permit officer approved extensions for filing revocation of registration, to exclude the interval from refund filing to deficiency communication from the two year refund limitation for corrected claims, and to allow withdrawal of refund applications via Form GST RFD 01W with restoration of debited ledger amounts. Rules now restrict e way bill generation for non filers of specified returns and integrate e Way Bill data with FasTag/RFID for near real time vehicle tracking; GSTR 2B for April will be generated after extended supplier filing dates. (AI Summary)

Extension of income tax compliance deadlines to relieve taxpayers, with carve outs for large unpaid tax and advance tax treatment.
CBDT issued a circular extending multiple income tax compliance deadlines-including SFT and rule 114G statements, quarterly TDS filings and Form 16 issuance, TDS/TCS book adjustments, superannuation and investment fund statements, ITR filing for non audit assessees, audit report filings, and international transaction reporting-to later dates in view of the pandemic and a new IT portal launch. Clarifications state that certain extensions do not alter interest consequences where net tax liability exceeds a specified threshold, and that tax paid by certain resident individuals under the advance tax provision within the original due date will be treated as advance tax. (AI Summary)

Wages definition clarified with capped deductions and payment timelines, imposing enhanced employer obligations, recordkeeping and inspector role.
The Code on Wages designates the appropriate Government for different classes of employers; distinguishes Employees from Workers; defines Wages with specified inclusions and exclusions, permits limited payment in kind, and caps deductions. It mandates timely wage payment and a weekly off, sets a Central floor for minimum wages with States allowed to set higher rates, and prescribes enhanced overtime. Employers are broadly liable for payment, required to maintain records and displays, subject to fines and prosecution for defaults, and will be inspected by a Facilitator Cum Inspector. (AI Summary)

Refund withdrawal procedure: applicants may withdraw claims before sanction and have debited ledger amounts restored.
Amendments permit revocation of cancellation of registration within thirty days or within an extended period granted by senior officers and update Form GST REG 21; they exclude the interval between filing a refund claim and communication of deficiencies from the two year refund limitation, introduce a formal withdrawal procedure for refund applications via Form GST RFD 01W with restoration of debited ledger amounts on withdrawal, substitute Form GST RFD 07 to reallocate withholding and release orders, and revise Rule 138E to clarify the prohibition on furnishing Part A information in Form GST EWB 01 for outward movement of goods. (AI Summary)

Composition levy simplifies GST compliance for eligible small intra state suppliers by permitting concessional tax and quarterly returns.
Composition levy is a voluntary simplified GST regime for eligible small taxpayers determined by aggregate turnover and other conditions, allowing payment of tax at concessional rates while precluding collection of tax from recipients and entitlement to input tax credit. It applies only to specified intra state supplies and all business verticals under the same PAN, requires issuance of a bill of supply with prescribed particulars, and substitutes frequent returns with a quarterly GSTR 4; transitional, registration, switching, and withdrawal procedures and documentation rules govern movement into and out of the scheme. (AI Summary)

GST refund procedure: new rules exclude deficiency-response time from limitation and allow withdrawal with ledger restoration.
Notification No. 15/2021 amends GST procedures: Rule 138E limits EWB Part A entries to outward movements, allowing inward waybills for persons with consecutive non-filing; Rule 90 excludes the period between filing FORM GST RFD-01 and issuance of FORM GST RFD-03 from the two-year refund limitation, allows withdrawal via FORM GST RFD-01W and restoration of debited ledger amounts; Rules 92 and 96 adjust withholding/release mechanics in Parts A/B of FORM GST RFD-07; Rule 23 permits extensions for revocation of cancelled registration. (AI Summary)

Anti profiteering enforcement shows procedural lapses when distributor liability proceeds despite manufacturer price control and computation errors.
The article critiques anti profiteering enforcement under GST, recounting a case where a wholesale distributor was penalised despite manufacturer-set price lists and an acknowledged error in computation; authorities failed to issue notice to the manufacturer and proceeded against the distributor, exposing procedural lapses in pursuing the primary commercial actor and in calculation methods. (AI Summary)

Input tax credit entitlement cannot be automatically denied for mismatches absent supplier non-payment or statutory amendment.
Mere non-reflection of supplier invoices in GSTR-2A does not automatically disqualify a recipient from claiming input tax credit; Section 16(2) prescribes possession of invoice, receipt of supply, tax being charged and paid by the supplier, and filing of returns as core conditions, while Section 42 requires matching, communication of discrepancies and a prescribed procedure before reversal. Rule 36(4) creates a restricted availment window for non-uploaded invoices but ties to Section 43A which is not yet in force. Judicial and policy statements discourage automatic reversal against bona fide recipients and prioritise recovery from suppliers except in narrow exceptional circumstances. (AI Summary)

E-way bill compliance determines whether vehicle detention and penalties apply, with renewals and proper documentation limiting seizure risk.
E-way bill renewal before a detention order, without change in goods or conveyance, can nullify detention where no rule bars post-expiry generation; failures to amend e-way bills in transit may be negligent and attract penalty, while job-work documentation, sale-in-transit, invoice numbering anomalies, wrong vehicle numbers, or pricing below MRP do not, by themselves, justify detention absent evidence of evasion. (AI Summary)