Judgement

IGST credit paid on imported machinery via Bill of Entry was not claimed in time, and AAR ruled it cannot be availed after the Section 16(4) deadline.

Due Date for Availing ITC As Per Section 16(4) Applicable on IGST Paid on Bill of Entry: AAR

ITAT held circular trading with documents isn't bogus; quashed 5.44 crore addition as invalid.

ITAT Clears Salt Trader in Rs. 5.44 Cr Circular Trading Dispute, Rejects Bogus Purchase Allegation

Circular Vs Bogus Trading: ITAT Deletes Rs. 5.44 Cr. Demand, Rejects Bogus Purchase Allegation

As per the Rajasthan Authority for Advance Ruling, the exemption under Rule 86B does not apply even if the combined income paid by the partner and firm is above Rs 1 lakh

GST Rule 86B Exemption Denied if No Single Partner Nor Firm Has Paid More than Rs. 1L Income tax: AAR

News

The Reserve Bank of India released a set of new and updated rules for banks and NBFC on Thursday, notifying that now customers do not need to visit their home branch in order to update their KYC.

Reserve Bank of India Simplifies KYC Rules; Reopening a Closed Bank Account Now Easier

In a shocking news from Raipur, Chhattisgarh, a 32 year old man named Aman Agarwal has been arrested by GST officials under charges of fraud of Rs. 26 crore.

GST Scam of 26 Cr in Chhattisgarh: Fraudsters Use Dead Persons to Open Fake Firms

Notifications

The Central Government of India has officially declared the bond issued by the NABARD as a Zero Coupon Bond for purposes of Income Tax.

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Due Date for Availing ITC As Per Section 16(4) Applicable on IGST Paid on Bill of Entry: AAR

Circular Vs Bogus Trading: ITAT Deletes Rs. 5.44 Cr. Demand, Rejects Bogus Purchase Allegation

GST Rule 86B Exemption Denied if No Single Partner Nor Firm Has Paid More than Rs. 1L Income tax: AAR

Reserve Bank of India Simplifies KYC Rules; Reopening a Closed Bank Account Now Easier

GST Scam of 26 Cr in Chhattisgarh: Fraudsters Use Dead Persons to Open Fake Firms

CBDT Notifies Zero Coupon Bonds of NABARD for Income Tax