1. Supreme Court stays Delhi High Court judgment in Brandix on the issue of validity of assessments where DIN is missing, orally remarks that not mentioning DIN in assessment orders may be an 'irregularity' but that does not make it an illegality: SC further quips" Can assessment go because DIN is not there... to say assessment goes, there will be a vacuum. Can the entire assessment be null & void..?"; SC observes that the consequences of the ITAT order further confirmed by the High Court, are 'serious; SC therefore issues interim stay on both ITAT as well as HC order.
2. Goods and Services Tax Network has issued an advisory regarding functionalities available on the portal for the GTA taxpayers.
3. Changes in GSTR-1: Two new tables in GSTR-1 from January 2024. Table 14 – Supplies Made Through E-Commerce Operators (In this table, you can add details of taxable outward supplies made through e-commerce operators.)
4. Table 15 – Supplies under Section 9(5) of the CGST Act (In this table, you can add details of taxable outward supplies on which the e-commerce operator is liable to pay tax under Section 9(5) of the CGST Act.)
5. The audit and non-services offered by the Big Four network and other firms to their clients are under the lens of the National Financial Reporting Authority (NFRA), the regulator for listed and large unlisted companies in the country.
6. Ministries of mines, steel and the department for promotion of industry and internal trade (DPIIT) will set up an internal mechanism to monitor the export of steel and aluminium products at concessional duties to the US.
By CA Raj Chawla
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