Post audit of GST refund will be conducted for all GST refund claims amounting to INR 1.00 lakhs or more by the “Post- Audit Cell” – Instructions issued by CBIC

Few Controversy resoled in GST by 47th GST Council Meeting

Press Release of the 47th Meeting of the GST Council Meeting held at Chandigarh

*GST Council Meet: Tax Rates revision approved*

Filing options for Updated Return Activate at the Income Tax Portal

No penalty u/s 43 of Black Money Act (BMA) for non-disclosure of foreign asset in ITR, if source was explained & assessee’s conduct was bonafide

Interest payment to related parties @ 18% and AO allowing only 12%: Validity of the disallowance of 6%

AO has no right to treat Trust’s registration granted by Commissioner (Exemption) as invalid to deny exemption: ITAT

12% GST leviable on sub-contractor for construction of roads on behalf of main contractor: AAR

Interest to be charged in case of tax not paid before due date and not for late filing of GSTR-3B: Jharkhand HC

Payment through Agent and validity of disallowance u/s 40A(3) in respect of cash payments made over the statutory limit

Reassessment initiated merely on basis of an audit objection not valid: HC

Estate & Succession Planning through Wills, Private Trusts & Nomination (I)

GST on Sale of plots: Land sold after subdividing land into smaller plots & adding amenities will not amount to supply and not liable for GST

TDS credit should not be denied merely due to wrong entry of PAN number: ITAT

NFRA faults IL&FS statutory auditor for deficiencies in IL&FS statutory audit

Trust for the benefit of the Minor: Clubbing Provisions of Section 64(1)(v) have no application

Few TDS related Amendment by Notification No. 67/2022: An overview