News

Understand the key GST violations that can lead to a frozen bank account and the steps to unfreeze it.

When Can the GST Department Freeze Your Bank Account? A Complete Guide for Taxpayers

Judgement

High Court holds CENVAT Credit is allowable on erection and maintenance services of remote windmills supplying electricity to the factory

Gujarat High Court Allows CENVAT Credit on Windmill Services Used for Power Supplied to Factory

Articles

Section 194R of the Income Tax Act, 1961 was introduced by the Finance Act, 2022 to ensure that benefits or perks given in the course of business or profession are properly reported and taxed.

TDS on Benefits or Perquisites under Section 194R

The Tribunal held that any expenditure incurred by the partner only for the purpose of earning such business income is allowable expenditure under sections 32 and 37.

ITAT Allows Claim of Business Expenditure on Salary Received from Partnership Firm to Former ICAI President

As per the Kerala AAR, the applicant is eligible to claim the input tax credit (ITC) on the invoices for the month of June 2022, only if the ITC is availed by November 30, 2023.

GST ITC not allowed for pre-registration period Invoices: AAR

The applicable GST rate is 5% (2.5% CGST + 2.5% SGST) without ITC on constructional services for residential apartments (other than the affordable units), as per Notification No. 03/2019 dated 29.03.2019

5% GST Applicable on Construction of Landowner’s Share of Residential Flats: AAR

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