GOVERNMENT OF GOA Department of Finance Office of the Commissioner of Commercial Taxes Notification 38/1/2017-Fin(R&C)(289)/27642 Porvorim, 15th February, 2025. Read: Notification No. 38/1/2017-Fin (R&C) (277)/26610 dated 19th September, 2024 published in Official Gazette, Extraordinary, Series I, No. 25 dated 20th September, 2024. In exercise of the powers conferred by clause (d) of sub-section (1) of Section 110 of the Central Goods and Services Tax Act, 2017 (12 of 2017) ... ... ...

New Delhi, Delhi, India (NewsVoir) • 170+ exhibitors and 10,000+ trade visitors expected at the fourth edition of the event • 30+ countries to be represented, bringing Indian and international hardware businesses together • India's hand and power tools sector has a potential export opportunity of over US$25 billion over the next decade, according to NITI Aayog The hardware industry is getting ready to come together at International Hardware Fair India (IHF India) 2026, powered by EISENWAR... ... ...

CardsXT as a Service enables banks and fintechs to build and manage card programmes; 86400 UPI app experience extends its offering into consumer-facing digital payments; IBMB brings greater interoperability to digital banking Mumbai, September 17, 2026: 86400, an initiative of Mobileware Technologies and a technology service provider building infrastructure for the financial services industry, today announced the launch of three new offerings — CardsXT as a Service, the 86400 UPI app experience ... ... ...

SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND MS. PADMAVATHY.S, ACCOUNTANT MEMBER For the Assessee : Shri Yogesh Thar & Ms. Sakshi Dande For the Revenue : Shri Pankaj Kumar ORDER PER VIKAS AWASTHY, JM: These two appeals by the assessee are directed against the order of Commissioner of Income Tax (Appeals)-15, Mumbai [in short ' the CIT(A)'] for the Assessment Years 2004-05 and 2005-06, respectively confirming penalty levied u/s. 271(1)(c) of the Income Tax Act, 1961 [ in short &... ... ...

The thematic programme covers the macroeconomic outlook, financing agricultural transformation, and financing the energy transition. Background material addresses macroeconomic pathways, private financing, implications of GST 2.0 for States, agricultural markets and marketing, agricultural resilience and sustainable resource use, renewable energy and transmission assets, and carbon capture, utilisation and storage. Further sessions address measurement of growth outcomes and the contribution of new-age technology to good governance.

Limitation periods for recovery of tax not paid or short paid and wrongly availed or utilised input tax credit are modified. For the financial year 2017-18, the deadline for issuing a recovery order is extended until 30 September 2023. The period from 1 March 2020 to 28 February 2022 is excluded when calculating limitation for recovery of erroneous refunds and filing refund applications.

GST-sensitive festive planning for apparel businesses requires early procurement, phased inventory, supplier reorder commitments and separate stock strategies for the post-Diwali wedding season. Pricing and costing require assessment of the revised GST structure for readymade garments and GST-rate reductions affecting man-made fibres and yarns. Proper purchase documentation is important for protecting input tax credit during high-volume festive transactions. Cash-flow planning, credit limits, return policies, retail staffing, digital campaigns and weekly sell-through monitoring support replenishment and pricing decisions.

Reverse-charge State tax is inapplicable to qualifying goods transport agency suppliers that are registered, elect forward-charge taxation, issue tax invoices charging applicable State tax, and furnish the prescribed declaration. Annexure III confirms registration and the election to pay tax under forward charge. Services by way of renting of residential dwelling to a registered person are brought within reverse-charge scope, with any person as supplier and the registered person as recipient.

Input tax credit under the CGST Act is conditional on the supplier's actual payment of tax to the Government; invoice possession, receipt of supplies and GSTR-2B reflection do not independently establish final eligibility. Section 16(2) conditions operate cumulatively, with the claimant bearing the burden of proving eligibility. Under Section 41(2) and Rule 37A, credit attributable to supplier non-payment must be reversed with applicable interest where prescribed, but may be re-availed when the supplier furnishes the relevant return and pays tax. The condition is treated as substantive, not as unconstitutional deprivation or double taxation, and cannot be read down to exempt bona fide recipients absent fraud or collusion.

Sections 73 and 74 do not expressly bar a common show cause notice covering multiple tax periods or financial years. The expressions "for any period" and "such periods" support consolidation, while financial-year references in the limitation provisions govern the deadline for adjudication orders rather than the scope of notice issuance. Each component demand must independently satisfy applicable limitation requirements. Section 74 requires disclosed material supporting fraud, wilful misstatement, or suppression of facts to evade tax; its extended limitation is not automatic.

GST applies to the platform's supply of actionable claims created when players commit stakes to uncertain outcomes, including skill-based games played for stakes. Each participant obtains a contingent beneficial interest in pooled funds, while the platform is supplier where it controls rules, funds, participation and payouts. Committed stakes cease to be mere deposits and constitute consideration; valuation follows the gross stake or applicable deposit measure rather than retained platform revenue. Schedule III's negative-list treatment does not cover betting-and-gambling claims. Rule 31A governs earlier stake-based valuation, while Rules 31B and 31C prescribe online gaming and casino valuation. The online-money-gaming changes are clarificatory and apply to pending matters, subject to factual verification of deposits and computation.

Electronic commerce operators required to collect tax at source must follow a special procedure for goods supplied through their platforms by registration-exempt persons. Supplies may be permitted only after allotment of an enrolment number on the common portal. Operators must prohibit inter-State supplies by such persons, refrain from collecting tax at source on those supplies, and furnish supply details electronically in FORM GSTR-8. Where multiple operators are involved, the operator finally releasing payment bears these obligations.

Resolution-plan approval is confined to verification of statutory compliance, including insolvency-resolution costs, operational-creditor dues, plan implementation, feasibility, viability and applicant eligibility; the Committee of Creditors' commercial decisions on distribution and viability are not subject to judicial substitution. Once approved, the plan binds stakeholders, extinguishes claims omitted from it, takes immediate effect, proceeds through the monitoring mechanism, and ends the CIRP moratorium. Reliefs, concessions and waivers extend only to protections available under the Code. Approvals or waivers required under other laws, including statutory dues beyond the Code's protection, must be obtained from the competent authorities.

Electronic commerce operators collecting tax at source must follow a special procedure for goods supplied through their platforms by composition taxpayers. They must not permit inter-State supplies of goods by such sellers, must collect and remit tax at source for covered supplies, and must electronically furnish supply details in FORM GSTR-8 on the common portal. The procedure applies from 1 October 2023.

Allegations of tender tailoring concern the replacement of a proposed UJVN-THDC public-sector thermal project with long-term procurement of 1,320 MW from a private generating plant. Congress alleges that 84 of 86 tender conditions were revised after the public-sector venture was abandoned, producing terms suited to an existing Korba expansion acquired by Adani Power through insolvency proceedings. The objections include plant-location flexibility, transmission costs for supply to Uttarakhand, and a 75% fixed-charge ceiling, which are alleged to narrow competition and shift long-term costs to consumers.

Goa Goods and Services Tax rate schedules are revised from 1 January 2022 by omitting selected entries and inserting detailed 6% classifications for textile and allied goods. The revised coverage includes woven fabrics, man-made filament and staple-fibre goods, yarn, knitted and crocheted fabrics, nets, narrow fabrics and made-up textile articles. Descriptions for specified textile articles are updated, while apparel is separately classified as knitted or crocheted and otherwise. Footwear is included where its sale value does not exceed the prescribed per-pair threshold.

RBI's refusal to permit Tata Sons to surrender its core investment company registration revives the prospect of a public listing. Classified as an upper-layer non-banking financial company, Tata Sons is subject to a listing requirement whose deadline expired while its deregistration request was under consideration. Its board has agreed to advance the listing process, subject to annual general meeting approval. Any legal challenge to the refusal of deregistration may be pursued by Tata Sons itself rather than directly by the Tata Trusts.

Rejection of Tata Sons' request to deregister as a core investment company leaves it subject to the mandatory listing obligation arising from its upper-layer non-banking financial company classification. The board's majority support for N. Chandrasekaran's third term is linked to maintaining leadership continuity for prospective investors if a public listing proceeds.

An arbitration agreement does not by itself bar insolvency proceedings for an unpaid operational debt where no genuine dispute existed before service of the demand notice. Insolvency jurisdiction may be invoked when delivery of the demand notice, an acknowledged outstanding liability, partial payment, and a remaining unpaid sum above the statutory threshold are established. The Code's overriding effect applies despite inconsistent contractual instruments or laws. An unsupported assertion that arbitration was invoked cannot establish a pre-existing dispute or prevent initiation where operational debt and default are otherwise proved.

Goa's GST exemption framework, effective 1 October 2021, adds nil-rate treatment for AFC Women's Asia Cup 2022 event-related services, subject to designated certification, and for rights of admission to its events. It also grants nil-rate treatment for National Permits for goods carriages operating throughout India or contiguous States. The amendments incorporate 12AB references in specified entries, extend coverage to rescheduled India-hosted events, revise selected year references, omit entry 43, and insert a 75% threshold in entry 72.