Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The provisions relating to assessment and reassessment under the Act are proposed to be rationalized. Key amendments include: substituting sections 148 and 148A to provide procedure for issuing notice before assessment, reassessment or recomputation; defining 'information' to include survey findings after September 1, 2024; requiring approval for notice based on information u/s 135A scheme; providing time limits in section 149 for issuing notices u/ss 148A and 148, ranging from 3 years to 5 years and 3 months based on specific cases; substituting section 151 to specify authority for approvals; and amending section 152 for transitional provisions.
The provisions relating to assessment and reassessment under the Act are proposed to be rationalized. Key amendments include: substituting sections 148 and 148A to provide procedure for issuing notice before assessment, reassessment or recomputation; defining 'information' to include survey findings after September 1, 2024; requiring approval for notice based on information u/s 135A scheme; providing time limits in section 149 for issuing notices u/ss 148A and 148, ranging from 3 years to 5 years and 3 months based on specific cases; substituting section 151 to specify authority for approvals; and amending section 152 for transitional provisions.
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