The Income-Tax Department conducted searches at Truecaller's India offices on November 7, 2024, regarding alleged tax evasion and transfer pricing (TP) issues. Truecaller, the popular caller ID service with over…
GSTN Issues Key Advisory on Waiver Scheme Under Section 128A of CGST Act, 2017
The GST Network (GSTN) released Advisory No. 546 on November 8, 2024, detailing the Waiver Scheme under Section 128A of the CGST Act, 2017. This scheme provides significant relief to…
Higher GST and Land Issues Slow Solar PV Expansion in India: Key Barriers and Growth Insights
India’s solar PV deployment faces significant barriers, including increased GST on solar components and land acquisition challenges, according to the International Solar Alliance (ISA) report. The GST on solar project…
CBIC Notifies Handling of Cargo in Customs Areas (Amendment) Regulations, 2024
The Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 75/2024-Customs (N.T.) on November 7, 2024, to amend the Handling of Cargo in Customs Areas Regulations, 2009. Key…
Supreme Court Restores DRI’s Authority, Resurrects ₹23,000 Crore Tax Notices Against Major Corporations
In a significant ruling, the Supreme Court on Thursday reinstated the Directorate of Revenue Intelligence’s (DRI) power to issue tax notices, reviving demands for unpaid duties totaling ₹20,000–23,000 crore against…
ED Raids Amazon & Flipkart Sellers for Alleged FDI Violations
The Enforcement Directorate (ED) recently conducted searches in Delhi, Bengaluru, Mumbai, Hyderabad, and Panchkula, investigating sellers linked to Amazon and Flipkart over Foreign Exchange Management Act (FEMA) violations. The probe,…
GSTN Issues Advisory on ‘Other Territory’ Applications for GST Registration
On November 07, 2024, the GSTN released Advisory No. 545 for applicants selecting the ‘Other Territory’ category in GST registration. Here’s a summary for those applying under this classification: Important…
GST Council May Make Health Insurance Premiums Tax-Free at 55th Meeting in December
In a significant move to make health insurance more affordable, the 55th GST Council Meeting in December could approve a GST exemption on health insurance premiums, according to sources from…
GSTN Introduces Form GST DRC-03A: Advisory and FAQs Issued
The Goods and Services Tax Network (GSTN) has issued Advisory No. 544 (dated November 5, 2024), providing comprehensive guidelines and FAQs on Form GST DRC-03A, which addresses payment adjustments for…
GST on Technical Consultancy for Jal Jeevan Mission Work: Exemption and Applicability Explained
The Maharashtra Authority for Advance Ruling (AAR) recently clarified GST applicability for technical consultancy services under the Jal Jeevan Mission (JJM) provided by M/s. The Nisarga Consultancy to Maharashtra Jeevan…