Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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The CBIC clarifies two key issues regarding Section 128A of CGST Act, which provides waiver of interest/penalty for demands under Section 73 for July 2017-March 2020 period. First, taxpayers who made payments through GSTR-3B before November 1, 2024 (when Section 128A came into force) are eligible for the benefit, though payments after this date must follow prescribed modes under Rule 164. Second, for notices/orders covering periods partially within and partially outside Section 128A's scope, taxpayers can file Form SPL-01 or SPL-02 after paying tax liability for the covered period only, and may inform the appellate authority of their intent not to pursue appeals for the 2017-20 period while continuing litigation for other periods.
The CBIC clarifies two key issues regarding Section 128A of CGST Act, which provides waiver of interest/penalty for demands under Section 73 for July 2017-March 2020 period. First, taxpayers who made payments through GSTR-3B before November 1, 2024 (when Section 128A came into force) are eligible for the benefit, though payments after this date must follow prescribed modes under Rule 164. Second, for notices/orders covering periods partially within and partially outside Section 128A's scope, taxpayers can file Form SPL-01 or SPL-02 after paying tax liability for the covered period only, and may inform the appellate authority of their intent not to pursue appeals for the 2017-20 period while continuing litigation for other periods.
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