AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Reserve Bank of India has initiated a review of past circulars issued under the Foreign Exchange Management Act, 1999, to rationalize the regulatory framework. This review may lead to the discontinuation of obsolete regulations.
RBI confirms cut-off price for the auction of 6.94% GS 2036, totaling ₹34,000 Crore accepted.
RBI publishes auction results for 6.94% GS 2036, indicating strong competitive interest.
RBI has published its weekly statistical supplement, providing key insights into bank liabilities and assets.
RBI has imposed a monetary penalty of ₹3.10 lakh on GIC Housing Finance for non-compliance with KYC guidelines.
The RBI has scheduled auctions for 91-Day, 182-Day, and 364-Day Treasury Bills, raising ₹17,000 Crore.
This article clarifies the GST provisions applicable to goods sent for job work, including ITC-04 responsibilities and compliance requirements.
The Invoice Management System (IMS) establishes accepted invoice records as critical for ITC eligibility, enhancing compliance and fraud detection.
The article outlines the types and processes involved in GST refunds, stressing the importance of correct documentation and classification to ensure valid claims.
The introduction of the mandatory Invoice Management System (IMS) emphasizes the necessity for taxpayers to review invoices to protect input tax credits and prevent GST return blocks.
The statement of facts is critical in GST litigation, serving as the foundational element of every GST appeal and emphasizing accurate documentation.
The ITAT Delhi ruled that negative cash balances do not automatically establish undisclosed income and upheld addition only to the peak negative balance.
The Kerala High Court stayed the adjustment of income tax refunds, directing that pending rectification applications be resolved before any recovery actions.