1. Delhi High Court Directs CBDT to Resolve Error of AY in self-assessment tax Challan. Case Name : Fada Trading Private Limited Vs Income Tax Ward 9(1).
2. GST authorities may take some time to introduce faceless scrutiny assessment of tax returns filed under GST. The faceless assessment -- under which there is no physical interaction between the tax officer and the assessee.
3. GST Rule 142(1)(a) states that along with the notice, a summary of the notice in FORM DRC-01 is to be served. There are 12 provisions under the law that require the issuance of DRC-01 along with notice. For creating demand u/s 73 or 74, three documents must be issued-: 1. DRC-01A - Pre Notice consultation 2. SCN 3. DRC-01 - Summary of SCN
4. India is actively considering allowing the import of Tesla cars at a much lower duty than prevailing rates for a specific period of time in order to encourage Elon Musk's pioneering electric car company to eventually set up a manufacturing base in India.
5. Credit card spends rose 38.3% year-on-year to an all-time high of Rs 1.8 trillion in October aided by strong festival season spends. The 38.3% y-o-y growth witnessed in October was the highest in nine months. Spends rose 25.4% month-on-month, which is the highest in two years.
CA -RAJ CHAWLA
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