Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
Section 148 permits the Government, on the Council's recommendations and subject to conditions and safeguards, to notify classes of registered persons and special procedures for registration, returns, tax payment and administration. Notification No. 22/2024-Central Tax, prescribing a procedure to implement retrospective input tax credit entitlement under Section 16(5), therefore falls within that power. The validity of the stipulated six-month period for rectification, particularly whether it contains adequate safeguards despite no extension mechanism for extraordinary circumstances, remains under consideration. The writ petitions were kept pending on that limited issue.
Section 148 permits the Government, on the Council's recommendations and subject to conditions and safeguards, to notify classes of registered persons and special procedures for registration, returns, tax payment and administration. Notification No. 22/2024-Central Tax, prescribing a procedure to implement retrospective input tax credit entitlement under Section 16(5), therefore falls within that power. The validity of the stipulated six-month period for rectification, particularly whether it contains adequate safeguards despite no extension mechanism for extraordinary circumstances, remains under consideration. The writ petitions were kept pending on that limited issue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
