Corporate Compliance – Outspire Innovations

19 May 24

Understanding Recovery Proceedings Under the CGST Act: A Recent High Court Ruling

Corporate Compliance, GST Return and Compliance

In a landmark decision, the Madras High Court ruled that recovery proceedings under the CGST Act cannot be initiated before the expiry of three months from the date of the order. This judgment protects assessees' rights and ensures adherence to due process.

18 May 24

Disposable Paper Cups Now Subject to 18% GST: West Bengal AAR’s Crucial Ruling

Corporate Compliance, Direct Tax Compliance

In a significant ruling, the West Bengal Authority for Advance Rulings (AAR) has determined that disposable paper cups will now attract an 18% GST. This decision, impacting manufacturers like Sekandar Sardar, underscores the importance of understanding tax classifications for products made with composite materials. At Outspire Innovations, we help businesses…

16 May 24

Blocking ITC by Creating a Negative Credit in the Electronic Credit Ledger

Corporate Compliance, GST Return and Compliance

The recent Telangana High Court ruling in Laxmi Fine Chem v. Assistant Commissioner reinforces that blocking input tax credit (ITC) by creating a negative balance in the electronic credit ledger is not permissible under Rule 86A of the CGST Rules, 2017. This decision highlights the importance of adhering to GST…

12 May 24

Ensuring Fair Taxation: Insights from the Madras High Court Ruling

Corporate Compliance

In a recent landmark judgment, the Madras High Court has underscored the importance of upholding due process in taxation matters. The case of Vela Agencies, represented by its proprietor D. Jagannathan, versus the Assistant Commissioner ST FAC sheds light on the necessity for tax authorities to maintain transparency and fairness…

12 May 24

Madras High Court Upholds Assessee’s Right to Prove Movement of Goods

Corporate Compliance

In a recent ruling, the Madras High Court, in the case of Ravi Chitra v. Assistant Commissioner (ST), highlighted the significance of granting fair opportunities to taxpayers to substantiate the authenticity of their transactions. Dated April 10, 2024, and documented under W.P. NO. 9689 OF 2024 W.M.P. NOS. 10715 TO…

12 May 24

MCA’s Circular No.-03/2024 Empowering LLPs

Corporate Compliance

The Ministry of Corporate Affairs' recent circular, General Circular No.-03/2024, heralds a new era of relief for Limited Liability Partnerships (LLPs) in India. With an extended deadline and waived additional fees for Form LLP BEN-2 and LLP Form No. 4D, LLPs now have the opportunity to navigate compliance seamlessly amidst…

11 May 24

Peer Review Update: Phase-II (Effective July 1st, 2024)

Corporate Compliance

Attention all firms subject to Phase II Peer Review requirements! Effective July 1st, 2024, Phase II of the Peer Review process becomes mandatory. Ensure compliance to seamlessly continue statutory audit engagements. For details, read on.

10 May 24

Calcutta High Court Ruling: Non-extension of E-way Bill Does Not Imply Tax Evasion

Corporate Compliance

In a recent ruling, the Calcutta High Court emphasized that the absence of an extended E-way bill does not automatically imply an intent to evade tax. The judgment underscores the need for concrete evidence to substantiate any allegations of tax evasion, rather than relying solely on procedural lapses. This serves…

08 May 24

Seller’s Default in Tax Payment and First Resort of Action – Calcutta High Court

Corporate Compliance

In a recent landmark ruling, the Calcutta High Court shed light on the intricacies of tax disputes, particularly regarding the responsibility of sellers in ensuring compliance. The case of LOKENATH CONSTRUCTION PRIVATE LIMITED vs. MAT 2459 OF 2023 underscores the significance of addressing seller default in tax payment as the…

03 May 24

Telangana High Court: Unsigned Orders Lack Legal Validity

Corporate Compliance, GST Return and Compliance

In a landmark decision, the Telangana High Court has ruled that administrative orders lacking signatures, whether physical or electronic, are devoid of legal validity. This ruling, stemming from the case of M/S. SILVER OAK VILLAS LLP, emphasizes the importance of proper authentication in administrative proceedings.

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INDUSTRIES WE SERVE

Understanding Recovery Proceedings Under the CGST Act: A Recent High Court Ruling

Disposable Paper Cups Now Subject to 18% GST: West Bengal AAR’s Crucial Ruling

Blocking ITC by Creating a Negative Credit in the Electronic Credit Ledger

Ensuring Fair Taxation: Insights from the Madras High Court Ruling

Madras High Court Upholds Assessee’s Right to Prove Movement of Goods

MCA’s Circular No.-03/2024 Empowering LLPs

Peer Review Update: Phase-II (Effective July 1st, 2024)

Calcutta High Court Ruling: Non-extension of E-way Bill Does Not Imply Tax Evasion

Seller’s Default in Tax Payment and First Resort of Action – Calcutta High Court

Telangana High Court: Unsigned Orders Lack Legal Validity

Refund Claim Cannot Be Denied Due to Technical Issues: Delhi High Court Ruling

Understanding Recovery Proceedings Under the CGST Act: A Recent High Court Ruling

Disposable Paper Cups Now Subject to 18% GST: West Bengal AAR’s Crucial Ruling

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