On 10th August 2022 Notification No. 94/2022 was issued notifying the New Rule 17AA for books of accounts and other documents to be kept and maintained by Trusts and other various Institutions.
The process of examining the return of income by the Income Tax department is called "Assessment".
The Central Government has announced Bailout Package for MSMESs Sector vide Press Release ID: 1846944 dated 01st August, 2022 and has operationalised AatmaNirbhar Bharat Package for MSMEs to cope up with the COVID-19 crisis.
The notification released by the Government states that from 1st October, 2022 any citizen who is or has been a taxpayer shall not be eligible to join the Atal Pension Yojana.
Under the income tax and other Direct Tax laws, tax refunds arise in those cases where the amount of tax paid by a person (or paid on his/her behalf) is greater than the amount on which he/she is properly chargeable. When you file the return of your income, you can avail tax refund.
In this article the paper writer has examined the latest circular and its impact for various kinds of recoveries made under GST law.
The Central Consumer Protection Authority has issued Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022 to provide for the prevention of false or misleading advertisements and making endorsements.
In case of GTA services, the person who is liable to pay freight is considered as the service recipient. Recipient of GTA service is liable to pay RCM on such freight. Accordingly RCM is payable under CGST, SGST or IGST head.
Search denotes an action of a Government machinery to go, look through or examine carefully a place, area, person, object etc. in order to find something which is concealed or for the purpose of discovering evidence of crime.
Show Cause Notice (SCN) is a warning or notification issued by a Courts, Competent Authorities or an Organization for an identified default demanding a tax payer to explain or to "show cause" in writing as to why the disciplinary/penal action should not be taken against the taxpayer for the identified defaults.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
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