256 ViewsThe Gujarat High Court (HC) has provided relief to importers by directing the Centre to refund the Goods and Services Tax (GST) paid on ocean freight within six weeks with interest. The ruling of the HC came after the levy of GST on ocean freight was struck down by Supreme Court (SC) in the […]
Extension of Customs clearances beyond normal working hours in Inland Container Depot(s)-reg.
305 ViewsAs a measure of trade facilitation and the ease of doing business, the CBIC has been enabling the facility of 24×7 Customs clearance across numerous sea ports and air cargo complexes across the country. Presently, this facility is available at 20 sea ports and 17 airports. 2. Board is in receipt of representations from […]
FAQs on top ten clarifications sought by the Taxpayers while filing their Income-tax returns.
250 ViewsQuestion 1: Self-assessment tax paid but not reflecting in prefilled details. Resolution: As per the normal process, it takes 3 to 4 days for different banks to provide information to the department. Post that, it gets prefilled in the Tax-returns/Pre-filled JSON. Taxpayer may opt to wait for required time-period for auto reflecting details of […]
E-invoice for tax payers with turnover above Rs. 5 Cr Sandbox testing enabled
472 ViewsTax payers with turnover above Rs. 5 Cr are enabled for testing on Sandbox. In this regard, IRP has sent a message to taxpayers as below:- Dear Sir/Madam, Greetings ! You are one of the taxpayers who is supposed to register the invoices on NIC-IRP portal as your AATO for your PAN is above […]
Bail granted to Chartered Accountant not being a beneficiary of illegal availment of ITC
332 ViewsThe Hon’ble Punjab & Haryana High Court in the matter of M/s Yogender Yadav v Union of India [CRM-M-53014 OF 2021 dated February 15, 2022] granted relief to a Chartered Accountant and held that judicial incarceration may not be prolonged, as it would unnecessarily curtail and fetter personal liberty of the Petitioner. Facts: M/s Yogender Yadav […]
Central and State Board are considered as educational institutions for the purpose of conducting examinations
279 ViewsThe AAR, Karnataka in the matter of M/s. Karnataka Secondary Education Examination Board [Advance Ruling No. KAR ADRG 17/2022, dated July 01, 2022] has held that the Central and State Board are considered as educational institution for the purpose of conducting examination. Facts: M/s. Karnataka Secondary Education Examination Board (“the Applicant”) is an independent […]
No Recovery of Central Excise Duty, Interest, and Penalty without serving of Adjudication Order
260 ViewsThe Hon’ble Calcutta High Court in the matter of M/s Haldia Petrochemicals Limited v. Assistant Commissioner [W.P. A No. 4249 of 2022, dated June 30, 2022] held that no recovery of Central Excise Duty, interest, and penalty can be made without service of adjudication order and directed the Revenue Department to refund the amount […]
No GST on services provided to educational institution for conducting entrance examination
298 ViewsThe AAR, Uttar Pradesh in the matter of M/s MEL Training and Assessment Ltd. [Advance Ruling No: UP ADRG 02/2022 dated May 02, 2022] has held that no Goods and Services Tax (“GST”) shall be levied on services provided to educational institution for conducting entrance examination. Facts: M/s MEL Training and Assessment Ltd. (“the […]
ASK Centers shall remain open throughout India on 31.07.2022 being last day for filing Income Tax Return
217 ViewsOrder F. No. 225/125/2022-ITA.II under Section 119(1) of the Income Tax Act, 1961 dated 30.07.2022 is published by Central Board of Direct Taxes – CDBT. Vide this order CBDT has directed that all ASK Centers to remain open on 31st July, 2022 during normal office hours. Further, special arrangements may also be made by […]
Over 4 crore Income Tax Return filed so far with deadline ending Tomorrow
304 ViewsThe Income Tax Department said that more than 4 crore returns had been filed through the e-filing portal until Friday for the financial year 2021-22, despite a widespread request for the due date to be extended beyond July 31. “Over 4.09 crore ITRs filed till July 28, 2022, & more than 36 lakh ITRs […]
