Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The circular provides a Standard Operating Procedure (SOP) for cancellation of GST registration of non-genuine taxpayers and creation of a repository of such entities. It outlines the background, legal provisions, procedure for cancellation initiated by the officer or on application, collection of evidence during investigation/inspection, preparation of evidence folders, sharing with authorities, and maintaining a repository by the Business Intelligence Unit (BIU). The aim is to curb the menace of fake invoices, wrongful ITC availment, and identify generators and users through risk parameters. It emphasizes thorough scrutiny, collection of evidence, recording statements, and reasoned orders for cancellation to safeguard government revenue.
The circular provides a Standard Operating Procedure (SOP) for cancellation of GST registration of non-genuine taxpayers and creation of a repository of such entities. It outlines the background, legal provisions, procedure for cancellation initiated by the officer or on application, collection of evidence during investigation/inspection, preparation of evidence folders, sharing with authorities, and maintaining a repository by the Business Intelligence Unit (BIU). The aim is to curb the menace of fake invoices, wrongful ITC availment, and identify generators and users through risk parameters. It emphasizes thorough scrutiny, collection of evidence, recording statements, and reasoned orders for cancellation to safeguard government revenue.
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