Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Liability of Interest on delayed payment of GST on credit balance of ITC - Scope of Amendment - Petition disposed off in view of clarification issued by the CBIC, wherein it was clarified that amendment in section 50(1) has been made effective prospectively w.e.f. 01.09-2020 due to certain technical limitations, however for present no recoveries for interest charged on gross liability will be recovered for the past period as well by the central and state tax administration. - HC
Liability of Interest on delayed payment of GST on credit balance of ITC - Scope of Amendment - Petition disposed off in view of clarification issued by the CBIC, wherein it was clarified that amendment in section 50(1) has been made effective prospectively w.e.f. 01.09-2020 due to certain technical limitations, however for present no recoveries for interest charged on gross liability will be recovered for the past period as well by the central and state tax administration. - HC
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TaxTMI 
TaxTMI 
of 4915 
