Tax Guru53m
IBBI warns valuer for failure to disclose key reference data
It found that while the valuer used market-based methods, he failed to disclose key reference data, which could aid stakeholders in decision-making. The Authority ruled that omitting publicly ...
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Corrigendum to Notification 05/2025 – Integrated Tax (Rate)
G.S.R. 90 (E).— In the notification number 05/2025 – Integrated Tax (Rate), dated the 16th January, 2025, of the Government of India in the Ministry of Finance (Department of Revenue), published in ...
Tax Guru1h
Valuers should Disclose All Relevant Information in Valuation Reports: IBBI
1.1 Rule 17 (1) of the Valuation Rules provides that based on findings of an inspection, if the authorised officer is of the prima facie opinion that sufficient cause exists to cancel or suspend the ...
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IBBI Amends Liquidation and Voluntary Liquidation Regulations
Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Insolvency and Bankruptcy Board of India (Voluntary Liquidation ...
Tax Guru1h
SEBI Draft Circular on UPI Transfers: Public Consultation
SEBI introduced usage of Unified Payments Interface (UPI) as a mode of payment in the securities market for the first time in 2019. The successful experience and efficiency brought by UPI resulted in ...
Tax Guru1h
Service Tax is not chargeable on reimbursement of expenses: SC
For provision of such services, the Respondents were initially registered with the Service Tax department w.e.f. September, 2004 and subsequently, obtained the centralized registration w.e.f. May, ...
Tax Guru1h
Looming Threat of 100% Penalty for Delayed GST Compliance: Taxpayer’s Shield and Safeguards
Scenario 2: Taxpayer collected GST payments from recipients but delayed remittance for over three months In such a situation, it is advisable to voluntarily pay a 15% penalty along with applicable ...
Tax Guru2h
Summary, Highlights & Preface of Economic Survey 2024-25
Economic Survey 2024-25 forecasts India’s GDP growth between 6.3% and 6.8% for FY26, with real GDP at 6.4% in FY25, aligning with its decadal average. Inflation moderated to 4.9% in April-December ...
Tax Guru2h
IBC: Appeal Delay Beyond 15 Days Not Condonable – NCLAT Delhi
The NCLAT emphasized that under the IBC, strict adherence to the appeal timeline is necessary, and the tribunal has no discretion to extend the condonable period beyond 15 days. As a result, the ...
Tax Guru2h
No Service Tax Penalty If Tax dues Paid Before SCN: CESTAT Ahmedabad
CESTAT observed that since the appellant recorded the transactions in its books and voluntarily paid the tax and interest ...
Tax Guru2h
Orissa HC Reduces Tax Deposit Requirement for GST Appeal Stay
Orissa High Court heard the petition filed by Gobinda Chandra Behera against the Commissioner of CT and GST concerning the order dated November 28, 2024, passed by the First Appellate Authority. The ...
Tax Guru3h
Order Reducing 1% ITC under Rule 86B Set Aside for Lack of Personal Hearing
The Madras High Court recently reviewed a writ petition challenging an order under Rule 86B of the Tamil Nadu Goods and Services Tax (TNGST) Act, 2017, regarding the reversal of 1% Input Tax Credit ...