No penalty can be levied if income already taxed in the hands of another entity
The ITAT, Ahmedabad in Amitkumar Hasmukhbhai Shah v. Deputy CIT [ITA Nos. 517 & 518/Ahd/2019 dated January 18, 2023] has…
Month: February 2023
Merchandise exporters to pay 18% GST on shipping costs: Govt
Merchandise exporters will have to cough up 18% goods and services tax, or GST, on the services of transportation of…
GST appellate tribunal will reduce pendency of cases, enable faster resolution, enhance ease of doing business
Lawyers have lauded the Goods and Service Tax (GST) Council’s approval for the formation of GST Appellate Tribunal (GSTAT) on…
Petrol and Diesel can be brought under the GST ambit if the GST council takes a call : FM
Union Finance Minister Nirmala Sitharaman Monday said that petrol and diesel can be brought under the GST ambit if the…
MSME demand separate GST slab
The Federation of Coimbatore Industrial Associations (FOCIA) has urged the Union government to introduce a separate GST slab for the…
GST on online gaming: Industry awaits clarity
With no date decided as of now for the next meeting of the Goods and Services Tax Council, the online…
GST provisions cannot be interpreted to deny the right to trade and commerce to any citizen
The Hon’ble Bombay High Court in Rohit Enterprises v. the Commissioner and Ors. [Writ Petition No. 11833 of 2022 dated…
Assessee cannot claim exemption of LTCG based on unregistered Banakhat agreement
The ITAT, Ahmedabad in Shri Navghanbhai Laxman Rabari v. ITO [ITA No.1864/AHD/2019 dated January 18, 2023] has held that, the…
Income tax ‘raids’ surge amid poor conviction rate
A survey conducted by the Income Tax Department in the BBC’s officers in Delhi and Mumbai over the last week…
ITAT: IBC has overriding effect on all Acts including Income Tax Act
The Delhi Bench of the Income Tax Appellate Tribunal in the case ACIT Versus ABW Infrastructure Ltd. observed and has…