• July 7, 2024

GSTN Update dated July 4th, 2024 The GSTN has an issued advisory to inform taxpayers that several enhancements have been made to address-related fields in the registration functionalities i.e. New Registration, Amendment Application (Core & Non-Core), and Geocoding Business Addresses. These enhancements are based on the analysis of tickets and user feedback. It is also […]

• July 6, 2024

Global Financial Insights is a weekly feature for the users wherein we aim to provide the latest updates on financial reporting, and auditing practices from across the globe. This week we have covered updates of International Financial Reporting Standard (IFRS), and Security and Exchange Commission (SEC). 1. International Finance Corporation joins hands with IFRS Foundation […]

• July 5, 2024

Before the concept of entrepreneurship is explored, it is important to, first, understand the meaning of ‘entrepreneur’ and also know who can be an entrepreneur. An entrepreneur is someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a […]

• July 4, 2024

Ajay Kumar Maggidi – [2024] 164 taxmann.com 48 (Article) 1. Background In pursuance of 53rd GST Council recommendations, the Central Board of Indirect Taxes and Customs (CBIC) has recently issued Circular No. 207/1/2024-GST dated 26-June-2024, setting up new monetary limits for the Department’s filing of appeals before the GST Appellate Tribunal (GSTAT), High Courts, and […]

• July 3, 2024

The Foreign Trade Policy 2023 outlines India's strategies to boost exports and enhance global trade engagement. It aims to achieve $2 trillion in exports by 2030, emphasizes ease of doing business, and introduces various schemes to support exporters, such as the Remission of Duties and Taxes on Exported Products (RoDTEP) and the Export Credit Guarantee […]

• July 2, 2024

Case Details: Cultgear (P.) Ltd. v. Commercial Tax Officer (Enf) - [2024] 162 taxmann.com 490 (Karnataka) Judiciary and Counsel Details S.R. Krishna Kumar, J. Smt. Disha & P.B. Harish Advs. for the Petitioner. Hema Kumar, AGA for the Respondent. Facts of the Case The petitioner was engaged in the business of manufacturing and trading of sports goods. The department […]

• July 1, 2024

Editorial Team – [2024] 163 taxmann.com 763 (Article) World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week. 1. Canada implements Digital Service Tax & Global Minimum Tax On June 20, 2024, Canada’s Department of Finance announced that […]

• June 30, 2024

Case Details: Ashish Gupta vs. Income-tax Officer - [2024] 163 taxmann.com 739 (Delhi-Trib.) Judiciary and Counsel Details Shamim Yahya, Accountant Member & Ms Madhumita Roy, Judicial Member Subodh Gupta & Mukesh Agarwal, CAs for the Appellant. Kanv Bali, Sr. DR for the Respondent. Facts of the Case The assessee, an individual, sold land that he treated as […]

• June 29, 2024

Consultation Paper; Dated: 26.06.2024 SEBI has released a Consultation Paper to facilitate ease of business under LODR and ICDR Norms. The objective is to seek comments from the public on the expert committee’s recommendation regarding the ease of doing business under these norms. The expert committee’s report is divided into three parts. The first and […]