28 ViewsThe Central Goods and Service Tax (CGST) Dehradun Commissionerate has detected a GST evasion of ₹20.83 crore and arrested the proprietor of one city-based firm, officials said. Dehradun-based Thakur Traders issued goods-less invoices, in excess of ₹135 crores (inclusive of GST) to various entities throughout India and passed on fraudulent Input Tax Credit (ITC) […]
CBIC may consider e-filing of pleas as GSTAT not ready yet
22 ViewsThe Central Board of Indirect Taxes and Customs (CBIC) is considering allowing the e-filling of petitions from aggrieved taxpayers as the setting up of GST Appellate Tribunals (GSTAT) may take another 10 months despite a green signal by the GST Council. The board has submitted before the Bombay High Court that it will not […]
Income Tax inspections in Bhopal at 4 mining offices reveal Rs 2500 crore TDS default
24 ViewsIn a surprise inspection the TDS wing of Income Tax department in Bhopal carried out searches at four district mining offices in the state on Friday. During the search, the I-T sleuths detected defaults aggregating to over Rs 2500 crore. Officials informed that during the inspections various issues of non-compliance of provisions of tax […]
Cancellation of GST Registration without determining the amount payable by the assessee is cryptic, invalid and not sustainable
29 ViewsThe Hon’ble Gujarat High Court in M/s. Devi Products v. State of Gujarat [R/Special Civil Application No. 2288 of 2023 dated February 15, 2023] has set aside the Show Cause Notice (“SCN”) issued to the assessee and the consequential order for cancellation of GST Registration, on the grounds that they were passed without recording […]
Mere change of opinion does not provide jurisdiction for re-opening of assessment
27 ViewsThe Hon’ble Bombay High Court in Survival Technologies Pvt. Ltd. v. the Deputy Commissioner of Income Tax [Writ Petition No. 3035 of 2022 dated February 20, 2023] has set aside the notice issued under Section 148 of the Income Tax Act (“the IT Act”) seeking to reopen the assessment of the assessee and the […]
Ex-Sena corporator arrested for not clearing Rs.2.3crore GST liability
31 ViewsThe CGST Bhiwandi commissionerate has arrested a former senior Shiv Sena corporator Sanjay Bhoir of Thane Municipal Corporation for not paying service tax liability of about Rs 2.3 crore. He has been remanded in judicial custody till March 9. Bhoir was twice elected as a Shiv Sena corporator and was the ex-standing commitee chairman […]
Income Tax portal under scheduled maintenance
29 ViewsDue to scheduled maintenance activities, e-filing site and associated services will not be available from 10 pm on 25th February 2023 to 8 am on 26th February 2023. Source: Income Tax portal
Advisory on New e-Invoice Portal
38 Views25/02/2023 Dear Valued Taxpayers, 1. We would like to inform you that GSTN has onboarded four new IRPs (Invoice Reporting Portals) for reporting e-invoices in addition to NIC-IRP. As a result, the beta launch of a new e-Invoice portal (www.einvoice.gst.gov.in), has been done where taxpayers can find comprehensive information on e-invoice compliance in a […]
Exemption of LTCG cannot be denied on residential property acquired by other than sale deed
54 ViewsThe ITAT, New Delhi in ACIT v. Sh. Sanjay Choudhary [ITA No.1274/Del/2020 dated January 23, 2023] has affirmed the decision of the Appellate Authority holding that the exemption claimed under Section 54F of the Income Tax Act, 1961 (“the IT Act”) would be granted to the assessee on its residential properties and assessee cannot […]
Credit of TDS to be allowed for salaries even if the same is not deposited with the exchequer
69 ViewsThe ITAT, Pune in Mukesh PadamchandSogani v. ACIT, [ITA No.29/PUN/2022 dated January 30, 2023] has overturned the order passed by the Revenue Department for disallowing the Tax Deducted at Source (“TDS”) to be provided to the assessee for the income under the head ‘salaries’. Held that, the requirement is only for the amount of […]