The Thaiger3d
Steel-ing millions! Firm in hot water over 200m baht tax scam
Thai company accused of using fake tax invoices in a scam worth 200 million baht. DSI investigates following Revenue Office ...
Tax Record Retention: What Documents Should You Keep?
How long should you store tax returns, statements, and supporting documents? Learn about the IRS records retention ...
LiveLaw12d
Acceptance Of Goods Delivered Under Tax Invoice Amounts To Accepting Terms Governing It, Including Arbitration Clause: Delhi High Court
The Delhi High Court Bench of Justice Manoj Kumar Ohri has held that the arbitration clause contained in the tax invoice ...
Supreme Court rules businesses can rectify tax errors without penalty
Supreme Court directs CBIC to re-examine tax return error provisions, reinforcing principle that buyers shouldn't be penalized for supplier errors.
Business Today19d
New GST rule: Input Service Distributor mechanism takes effect from April 1; details here
Following the amendment, ISD mechanism is now compulsory for offices that receive tax invoices for input services (including RCM transactions) on behalf of distinct persons. Conditions of ...
Tax Guru1d
Limitations of Rule 39(1A) in CGST Rules for Transferring Input Tax Credit
The head office would pay the tax under RCM (₹1.8 lakh IGST) and simultaneously issues an invoice under rule 54 (1A) to the Delhi ISD for ₹10 lakh (plus ₹1.8 lakh CGST/SGST), transferring the ITC. The ...