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Investment AdvisoryAmazon-Future Tussle
Amazon-Future Tussle India’s retail giant Kishore Biyani’s Future Retail is stuck in a long-standing tussle with the US tech giant Amazon. Amazon has been blocking a deal worth $3.4 billion between Future Group and Reliance Retail alleging that the transaction between the two Indian majors
Import / ExportTrade Notice No. 47/2020-21
Trade Notice No. 47/2020-21 Subject: Issuance of Import Authorization for ‘Restricted’ items from DGFT HQs w.e.f. March 22, 2021. Reference is invited to Trade Notice No. 49 dt. 15.03.2019 vide which a new module for filing online applications to DGFT (HQ) was made operational from 18.03.2019. As
GST LitigationGujarat HC in the case of JAP Modular Furniture Concepts (P) Ltd.
Case Covered: JAP Modular Furniture Concepts (P) Ltd. Versus State of Gujarat Facts of the Case: By this writ application under Article 226 of the Constitution of India, the writ applicants have prayed for the following reliefs: “A. This Hon’ble Court may be pleased to
GST LitigationUttar Pradesh AAAR In M/s Ion Trading India Pvt Ltd
Case Covered: M/s Ion Trading India Pvt Ltd Facts of the Case: M/s ION Trading India Private Limited, Building No. 2, Infospace, 4-6th Floor, Block-B, Plot-2, Sector-62, Noida, Uttar Pradesh (here in after called the appellant) is a registered assessee under GST having GSTN: 09AAECA4325R1Z9.
GST ComplianceGST Insights- Compliances before 31st March 21 and Changes w.e.f. 1st April 2021
I. Compliances before 31st March 2021 A. File GSTR 9 & 9C for F.Y. 2019-20 The due date file GSTR-9 (for taxpayers having aggregate turnover of more than 2 crs.) and GSTR-9C (for taxpayers having aggregate turnover of more than 5 crs.) has been further
GST ComplianceGST Year End Checklist
GST Year-End Checklist Intention: To give guidelines to Accountants in filing of March 21 GST Returns & getting ready for the FY 2021-22 Turnover & Tax Liability thereon 1) Reconcile the Turnover to be reported as per books April to Feb vs what is present
GST LitigationAndhra Pradesh HC in the case of M/s. OSTRO Anantapura Private Limited
Case Covered: M/s. OSTRO Anantapura Private Limited Facts of the Case: The petitioner’s case is thus: a) The petitioner is M/s. OSTRO Anantapura Private Limited, Anantapuram, and a Company engaged in the business of generation and sale of wind power. The petitioner is a registered
GST ComplianceMost Important Clarification by CBIC on Unauthorized Demands by Tax Officers
Press Note: CBIC Unconfirmed reports have appeared in certain sections of the media that some GST officers are using unauthorized communication means such as phone calls, WhatsApp, and messages asking taxpayers to discharge ‘maximum tax liability’ in ‘cash’ in order to ensure that targets for
Import / ExportDRI Officer Is Not ‘The’ Proper Officer’
DRI! As the apex intelligence organization of Indian Customs, it is the prime responsibility of DRI to enforce the provisions of the Customs Act, 1962. The charter of duties of the DRI includes the collection, collation, analysis, and dissemination of intelligence relating to smuggling. It
GST LitigationDelhi HC in the case of M/s. Mridul Tobie Inc.
Case Covered: M/s. Mridul Tobie Inc. Versus Additional Director General, Directorate General of Goods And Service Tax Intelligence Facts of the Case: This is an application filed by the petitioner to seek a stay on the investigation for the reasons articulated therein. On 22.02.2021, the
Income Tax LitigationIndian Tax Authorities Will Not Grant Refund of Taxes Paid In Foreign Jurisdictions
Indian Tax Authorities Will Not Grant Refund of Taxes Paid In Foreign Jurisdictions The Hon’ble Mumbai ITAT in the case of the Bank of India , has held that an Indian tax payer will not be entitled to claim refunds from Indian tax authorities for
GST ComplianceOnus to Pay Fresh Tax or Increase in Rate of GST in Supply of Goods or Services
The onus to Pay Fresh Tax or Increase in Rate of GST in Supply of Goods or Services In day-to-day life, invariably Agreements are entered into with the Principal who is Government or Government Department or Public Sector Companies or Autonomous Bodies or Municipal