Mandatory ISD Mechanism from April 1, 2025: Regular Registration Cannot Route Common Credits. Issue Whether, under the amended GST provisions effective from April 1, 2025, a Head Office (with a regular GST registration) can continue to receive invoices for common input services and subsequently transfer the Input Tax Credit (ITC) to its separate Input Service… Read More »
Export of Pre-Packaged Frozen Shrimps is Taxable at 5%; Zero-Rating Benefit Available. Issue Whether the export of processed frozen shrimps (HSN 0306), packed in inner pouches and master cartons (up to 25 kg), qualifies as a “pre-packaged and labelled” commodity liable to GST, or if it is a nil-rated/exempt supply. Facts The Applicant: A GST-registered… Read More »
Exports of Pre-Packaged Rice are Zero-Rated; Pre-Export Supplies Taxable (with Concession Option); Rule 96(10) Bar Removed. Issue Direct Export: Is GST leviable on the export of pre-packaged and labelled rice (up to 25 kg)? Domestic Supply to Exporter: Is GST applicable on the supply of such rice to another exporter (Merchant Exporter) within India, either… Read More »
ITR REFUND PROCESSING तेज रफ्तार पर लगा ब्रेक ! REASONS FOR NOT PROCESSING INCOME Tax Return
ITAT Remands Addition of Cash Deposits to AO for Verification of Source from Property Sale Issue Whether an addition of Rs. 42,20,000/- made under Section 69 (unexplained investment/money) for cash deposits in a bank account can be sustained when the assessee produces evidence (sale deed) linking the deposit to the sale of property by… Read More »
ITAT Remands Unsecured Loan Addition to CIT(A) on Cost; Deletes One Addition Issue Whether additions made under Section 68 for unsecured loans totaling Rs. 40,00,000/- are sustainable when the assessee claims that the funds were routed through banking channels and repaid, but failed to produce complete documentary evidence before the lower authorities, producing them only… Read More »
CBIC Launches Online Module for Permissions under Section 65 (MOOWR and MOOSWR) Issue: To streamline and simplify the process for manufacturers and businesses to submit applications and obtain permissions for conducting manufacturing and other operations in a Customs-bonded warehouse under the MOOWR and MOOSWR schemes. Facts: The CBIC previously utilized the Invest India portal… Read More »