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...
GST Council recommends formation of Group of Ministers to study GST on life and health insurance, and future of compensation cess. Exemption recommended for research and development services by government entities, universities using government or private grants. GST rates reduced from 12% to 5% on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab. GST rate on extruded/expanded savoury snacks reduced from 18% to 12%. Reverse Charge Mechanism introduced on metal scrap supply by unregistered to registered persons. GST clarified at 28% on car seats and roof-mounted air conditioning units for railways. Pilot rollout recommended for B2C e-invoicing. Enhancements like RCM ledger, ITC reclaim ledger and Invoice Management System to be introduced. Waiver of interest/penalty for tax demands in FY 2017-18 to 2019-20 u/s 128A recommended. Clarifications issued on various issues like refunds with concessional notifications, place of supply rules.
GST Council recommends formation of Group of Ministers to study GST on life and health insurance, and future of compensation cess. Exemption recommended for research and development services by government entities, universities using government or private grants. GST rates reduced from 12% to 5% on cancer drugs Trastuzumab Deruxtecan, Osimertinib and Durvalumab. GST rate on extruded/expanded savoury snacks reduced from 18% to 12%. Reverse Charge Mechanism introduced on metal scrap supply by unregistered to registered persons. GST clarified at 28% on car seats and roof-mounted air conditioning units for railways. Pilot rollout recommended for B2C e-invoicing. Enhancements like RCM ledger, ITC reclaim ledger and Invoice Management System to be introduced. Waiver of interest/penalty for tax demands in FY 2017-18 to 2019-20 u/s 128A recommended. Clarifications issued on various issues like refunds with concessional notifications, place of supply rules.
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