Assessee Must Provide Documents for GST Reg. Cancellation Due to Allegation of Non-existent Entity

The order cancelling the GST registration of the applicant has been quashed by the Delhi High Court and allowed the applicant to answer to the Show Cause Notice, as the mere allegation against the applicant is that it was discovered to be non-existent. The bench of Justice Vibhu Bakhru and Justice Sachin Datta has granted liberty to the applicant to provide all documents and material in support of its assertion that it continues to be a valid tax entity. The applicant has filed the appeal contesting an order passed via…

Amarnath Yatra temporarily suspended due to heavy rain | India News

The Amarnath Yatra was temporarily suspended on both routes to the cave shrine on Saturday as a precautionary measure due to heavy rainfall, officials said. Intermittent heavy rainfall has been seen along the Baltal and Pahalgam routes since last night, they said. The decision to temporarily suspend the yatra was taken as a precautionary measure to ensure the safety of the pilgrims, the officials added. The number of devotees who have visited the 3,800-metre-high cave shrine and had ‘darshan’ of the naturally formed ice lingam has crossed 1.50 lakh. The…

Madras HC Cancels GST Order Due to Petitioner Not Being Aware of Notice Uploaded on Portal

A GST assessment order has been set aside by the Madras HC as the applicant does not know the proceedings on the portal and asked for a new assessment with a chance to get heard. On the ground of a violation of principles of natural justice the assessment order has been quashed by the applicant, Ace Industrial Gases Pvt. Ltd. As the SCN and the impugned order were uploaded on the ‘View Additional Notices and Orders’ tab on the GST portal but not communicated to the applicant via any other…

Adani Green: Bonds of Tata Motors, Adani Green sink as India’s debt sinks due to weak rupee

Jaguar-owner and mining giant Resources Ltd’s debt suffered the biggest fall on record last week, among a handful of Indian companies whose bonds fell to record lows of the rupee. In addition to those two dollar notes maturing in 2024, Energy’s forex bonds fell the most since March, while GMR Hyderabad 2026 debt also declined, Bloomberg-compiled data shows. The fall coincides with the rupee touching its all-time low against the dollar, posing the challenge of already high interest rates for Indian companies to pay off existing foreign debt or sell…

Rice prices jump 10% in just five days due to Dhaka duty cut

Indian rice prices have increased by 10 per cent in the last five days in both domestic and international markets. Bangladesh Reduced import duty and duty on rice from 62.5 per cent to 25 per cent, pushing Indian traders for export deals with the neighboring country. On June 22, Bangladesh came up with a notification that allows the import of non-basmati rice till October 31. This is the first time that Bangladesh has started importing rice. India It is feared so soon that India may impose restrictions on the export…

Sensex: These shares of BSE 500 down by 15-28% due to the strengthening of bears’ hold on D-Street

It turned out to be a painful week for investors on Dalal Street as the benchmark index Sensex Lost 2,943 points. The broader Nifty 50, which ended below the 15,300 mark, is now only 411 points away from officially entering bear territory. Data shows this was the worst week for nifty in more than two years. Unabated selling of Indian equities by foreign portfolio investors (FPIs) also pushed the headline stock index down. Marking the biggest annual outflow, foreign investors have so far sold Indian shares worth over Rs 2…

Stock market news: D-Street awaits consolidation due to global adverse conditions

Markets remained sluggish throughout the week as rate hike and inflationary pressures remained the key pressures. Theoretically, demand-side issues are dealt with by the central bank through monetary policies, while supply-side ones, through fiscal measures by the government. However, in the real world when a crisis occurs, its wider impact is felt across borders, regions and regions, and more often than not, a combination of fiscal and monetary policies are implemented. Since the start of the pandemic, reserve Bank of India And the government has turned into brothers with arms,…

The possibility of weakening of the rupee due to the strengthening of the dollar, risk aversion in the markets; USDINR pair to trade in this range

Indian Rupee There is a possibility of depreciation on Thursday amid strengthening dollar, risk aversion in domestic, global markets. “The rupee is likely to open the day near the sticky levels of 77.60 and another narrow day is expected between 77.45 to 77.80,” experts said. The rupee had recovered from its record low against the US dollar in the previous session. At the interbank forex market, the rupee opened at 77.58 against the greenback and moved in a range of 77.51 to 77.62 in the day’s trade. The local unit…

Agriculture is shining despite the scorching heat due to the halt in manufacturing

Agriculture and allied sector registered a decent 4.1% expansion in the March quarter and continued to be a bright spot in the GDP figures in the latest estimate released earlier this month, while intense heat reduced wheat yields and agriculture The ministry lowered the cotton crop forecast. , However, contraction in the manufacturing sector in the fourth quarter of FY22, though modest and on a favorable basis, does not bode well for the promise of a quick and sharp turnaround in private capital expenditure. Growth in the manufacturing sector, higher…