Transitional input tax credit subject to statutory time and manner; cut-off rules enforceable despite portal glitches.
Transitional input tax credit is a statutory, non vested benefit claimable only in the time and manner prescribed by Section 140 and rules; Rule 117 and Rule 120A are within rule making powers, prescribe rational mandatory cut off dates for filing TRAN 1/TRAN 2, and administrative measures limiting credit to eligible duties and setting procedural safeguards align with the statutory scheme. Portal failures do not automatically excuse non filing where the framework operated for the majority of taxpayers. (AI Summary)

SEZ to DTA removals treated as taxable transfers subject to customs duties and IGST, with prescribed procedural formalities.
Removals from SEZ to DTA are taxable transfers requiring payment of applicable customs duties and IGST, with duty and valuation at rates in force on clearance or on payment; SEZ Rules impose Foreign Trade Policy compliance for DTA sales, special procedures for scraps, precious metal residues and power transfers, and customs procedures for valuation and assessment. DTA buyers must file a bill of entry for home consumption; capital goods moved to DTA incur duty on depreciated value using the straight line method and may be returned for repair within six months subject to identity. (AI Summary)

Residential status for non-residents revised: income and foreign tax liability now determine tax residency and global tax scope.
The Finance Act amends residency rules so that an Indian citizen or person of Indian origin may be treated as resident or deemed resident where their India source income (excluding specified foreign source income) exceeds a statutory threshold, and where they are not liable to tax abroad due to domicile or residence criteria; RNOR status is preserved for certain intermediate stays and continues to exclude most foreign income except foreign business or professional income linked to India. (AI Summary)

Input tax credit restrictions under Section 16(4) may bar late claims despite late fee amnesty; statutory clarification sought.
The article examines a GST amnesty reducing late fees for specified GSTR 3B periods and questions whether taxpayers who already paid late fees should receive refunds. It focuses on whether input tax credit can still be claimed when returns for July 2017-March 2019 are filed late, considering the time bar in section 16(4). The author outlines that ITC entitlement requires recording the credit in books and furnishing the relevant return, and requests GST Council clarification on late ITC claims and retrospective refund of paid late fees. (AI Summary)

Arbitration procedure in the stock exchange: computerised arbitrator appointment, fee regime, awards, corrections and appellate review.
Arbitration in the National Stock Exchange is governed by the Arbitration and Conciliation Act, 1996 together with NSE and SEBI rules; regional centers maintain arbitrator panels, with computerised appointment of single or three member panels based on claim value. Parties must file within a three year limitation using prescribed forms; respondents may reply and counterclaim. A fee and state stamp duty apply, awards are to be passed within four months (extendable), costs normally follow the losing party, correction under section 33 and appeals to Appellate Arbitrators or judicial challenge under section 34 are available. (AI Summary)

MSME classification criteria determine enterprise category based on investment and turnover, triggering Udyam registration and update obligations.
Enterprises are classified as micro, small or medium based on concurrent investment and turnover thresholds, with aggregation of all units sharing a PAN for classification. Udyam Registration is an online self-declaration process requiring Aadhaar (and GSTIN plus PAN for companies/LLPs/others), issues a permanent Udyam Registration Number and e-certificate, mandates re-registration of earlier registrations, requires periodic updating of tax and GST return details, and imposes penalties for intentional misrepresentation. (AI Summary)

Encashment of bank guarantees risks foreclosing appeal rights unless provisional release conditions and procedural safeguards are respected.
Provisional release of seized goods under the GST framework is permitted on execution of a bond and furnishing security in the form of a bank guarantee, or on payment of applicable tax, interest and penalty; where the person fails to produce the goods at the appointed place and time, the security may be encashed and adjusted against the tax, interest and penalty. Authorities must form a reasonable reason to believe based on relevant material before seizure, distinguish transit-stage detention from post-delivery confiscation, and consider appellate and stay remedies before coercive encashment of bank guarantees. (AI Summary)

Input tax credit reversal required when payment to supplier isn't made within specified period; credit claimable on subsequent payment.
Failure to pay the value of an inward supply together with the tax charged within the stipulated period under the proviso to section 16(2)(d) triggers reversal of Input Tax Credit by the recipient, together with interest, until the outstanding amount and tax are paid, at which point the recipient may re avail the credit; proportionate ITC must be reversed where ledger entries show unpaid amounts due to disputes or contractual retention, unless the recipient adopts permitted measures such as issuing a financial debit note or settling retention across invoices before the payment period expires. (AI Summary)

CSR applicability based on profit triggers committee and spending duties, not net worth or turnover, prompting threshold reform.
Section 135 establishes alternative thresholds-net worth, turnover or net profit-for constituting a CSR Committee, while CSR spending is mandated as a percentage of average net profits; therefore, CSR obligations in practice arise only when sufficient profits exist, making committee constitution and related formalities superfluous for companies without requisite profits and prompting a recommendation to align applicability and raise the profit threshold. (AI Summary)

EPF transfer online: consolidate provident fund accounts via UAN-enabled portal to enable seamless account transfer and tracking.
EPFO permits online EPF account transfers via the Unified Member Portal where a member with an active UAN and updated KYC logs in, selects the One Member-One EPF Account (Transfer request), verifies personal and PF details, fetches previous employer PF information, selects employer attestation, obtains an OTP on the registered mobile, and submits the request. A tracking ID is issued and status can be monitored through Member e-SEWA's Track Claim Status; employer attestation changes the form status to 'approved.' (AI Summary)

Prohibited benefit to specified persons: denial of tax exemption when trust income or property benefits disqualified persons.
Use or application of a trust's income or property for the benefit of specified persons leads to denial of exemption. Specific deemed instances include lending without adequate interest or security, making property available without adequate rent, excess or inadequate payments for services, purchasing or selling property at more than or less than adequate consideration, diversion of income or property favouring specified persons above the statutory aggregate, and investment in concerns where specified persons have substantial interest; limited relief confines denial to income from small investments. (AI Summary)

Reduced GST interest and conditional late fee waivers extend filing relief for specified tax periods and return types.
Amendments to notifications recalibrate interest rates, late fee treatment and extended filing dates for Form GSTR-3B and Form GSTR-1 for tax periods February 2020 to July 2020: concessional interest (nil for initial grace period, concessional rate thereafter until specified cut-off, then normal rate), extended due dates by turnover and jurisdiction, and conditional waiver of late fee contingent on filing by the revised dates; illustrative tables demonstrate calculation mechanics. (AI Summary)

Reverse charge mechanism shifts GST liability to the recipient; registration, self invoice and electronic payment obligations apply.
Reverse Charge Mechanism places GST liability on the recipient for specified notified supplies and supplies from unregistered persons; time of supply rules set earliest of receipt, payment, or invoice related lead times (with books of account fallbacks) for goods and services. Recipients liable under reverse charge must obtain GST registration (subject to narrow exceptions), report such supplies in returns, pay tax through the electronic cash ledger by the return due date, issue self invoices for unregistered suppliers, and may claim input tax credit only when used in the course or furtherance of business. (AI Summary)

GSTR 3B filing deadlines: staggered interest and late fee waivers with restricted input tax credit for delayed historical returns.
The document sets staggered GSTR 3B due dates and conditional relief by turnover and state groupings, specifying limited interest waiver periods with subsequent higher interest accrual, late fee waiver windows, and commencement dates for ordinary interest and late fees. It distinguishes per day late fees for taxable and nil returns, prescribes a capped late fee for certain historical returns filed within a remedial period, and states that taxpayers filing those historical returns cannot claim Input Tax Credit for specified prior years, necessitating cash payment of tax. (AI Summary)

Territorial definition and procedural amendments in CGST notification expand union territory scope and alter procedural timeframes.
The notification implements Finance Act, 2020 amendments: the Union territory definition adds Ladakh and consolidates Dadra and Nagar Haveli with Daman and Diu; the proviso restricting Area Benches (previously excluding Jammu and Kashmir) and a first proviso to section 109(6) are omitted; the period for removal-of-difficulty orders is extended from three years to five years; and a cross-reference to subsection (5) of section 66 concerning reimbursement for special audit is removed while retaining Board-approved delegation to specified Commissioners or Joint Secretaries. (AI Summary)

Extension of FTP due dates preserves validity of export authorisations and relaxes late cut deadlines for key schemes.
The Central Government extended multiple FTP timelines: Duty Credit Scrip validity and AEO licence expiry dates were prolonged; MEIS late cut computation excludes 1 March-30 June 2020; SEIS application late cut schedules for FY 2016 17 and 2017 18 were adjusted with transitional deadlines. DGFT Regional Authorities need not insist on RCMCs expired on or before 31 March 2020 for incentives/authorisations until 30 September 2020. RoSCTL is extended and MEIS benefits for listed items remain available only until 31 December 2020, with items moved to RoDTEP removed from MEIS upon notification. (AI Summary)

Input tax credit on cash transport permitted where transported cash is treated as goods, after judicial remand.
The dispute concerned availability of input tax credit on motor vehicles converted into cash carry vans used to transport cash. An initial AAAR order denied ITC, reasoning that money is excluded from the statutory definition of goods. The High Court set that order aside for failing to address the principal submission about whether money, while being transported, falls within the definition of goods, and remanded. On remand AAAR held that cash in transit could be treated as goods for the purposes of the service and allowed ITC on purchase and fabrication of the vans. (AI Summary)

GST due date extensions provide staged interest relief, late fee waivers, and targeted filing windows for overdue returns.
June 2020 GST measures grant staged interest relief and temporary waivers of late fees for delayed GSTR 3B filings, impose a one time reduced late fee for historical unfiled returns with tax payable while waiving fees where no central tax is due (subject to filing within a specified window), extend filing deadlines for certain months without late fees for small taxpayers, provide relief from GSTR 1 late fees, specify the payment route for developer/promoter differential tax, and permit certain service providers to opt into the composition scheme under applicable turnover and condition criteria. (AI Summary)

Late fee waiver and staggered interest relief for delayed GST returns create revised filing windows and compliance rules.
Amendments revise the definition of Union territory, alter constitution rules for GST Appellate Tribunal benches, adjust Commissioner authorisations, extend the Government's "removal of difficulty" power, and set an effective date. Administrative measures revise composition levy rates, prescribe a staged interest-relief framework for delayed GSTR-3B filings with illustrative calculations, waive or conditionally remit late fees for GSTR-3B and GSTR-1 subject to specified filing windows, fix extended filing deadlines for small taxpayers and require tax on input shortfalls by developers to be paid via a specified electronic form. (AI Summary)

Due date extensions for income tax filings expand return, audit and TDS timelines while adjusting fees, interest and compliance timing.
Notification extends multiple income tax compliance deadlines and adjusts the applicability of related fees, penalties and interest. It defers filing dates for original and revised returns and current year returns while preserving late filing fees and interest in specified circumstances; reschedules TDS/TCS return filings and TDS certificate issuance but leaves some monthly TDS payment dates unchanged; adjusts interest phases for delayed tax payments; defers audit report deadlines with differential penalty exposure. It also extends timelines for capital gains rollovers, SEZ deduction commencement, administrative orders and notices, Aadhaar PAN linking, approvals for exempt entities and Chapter VI A investment deadlines. (AI Summary)