ITR: Late fee that you have to pay if you fail to verify income tax return before August 31
The last day to file the Income Tax Returns for the financial year 2022-23 has already passed as the due…
Month: August 2023
Six foreign tours companies under tax scanner
The Income tax department is looking into tax evasion by about six companies providing foreign tour packages for under-reporting of…
FAQ’s for Form 27C
Question 1: Who is required to file Form 27C on E-filing portal, buyer or seller? Resolution: The Seller is required…
Indian Sugar Mills Association Calls For 5% GST On Flex Fuel Vehicles
The Indian Sugar Mills Association (ISMA) called for a change in the Goods and Services Tax (GST) rate applied on…
Entire disputed amount required to be deposited before opting writ remedy
The Hon’ble Orrisa High Court in Krushna Mohan Dutta v. Commissioner of CT & GST, Odisha & Others held that, the assessee is required to deposit entire disputed demand within 15 days if the assessee intends to seek remedy through writ court in case on non-constitution of GSTAT.
ITC is eligible on input used for construction of foundation of machinery
The AAR, Rajasthan, in M/s. Uvee Glass Private Limited held that, ITC of GST paid on the inward supply for fixing of plant and machinery to earth by foundation or structural support which is used for making outward supply of taxable goods is allowed.
Adjudicating Authority must provide hearing opportunity before passing an adverse order
The Hon’ble Allahabad High Court in B.L. Pahariya Medical Store v. State of U.P set aside the demand order passed by the Adjudicating Authority and held that, the assessee is not required to request for opportunity of personal hearing, and it remained mandatory upon Adjudicating Authority to afford such opportunity before passing an adverse order.
GST – Constitution of a Committee – to study the settlement pattern of IGST
ABSTACT Goods and Services Tax – Constitution of a Committee – To study the Settlement pattern of Integrated Goods and…
CBDT order provides relief, but Income Tax department may reopen big old cases
CBDT guided by a Supreme Court (SC) order issued in April, has sent out comprehensive instructions to tax officials regarding…
Advisory for applicants where GST Registration application marked for Biometric-based Aadhaar Authentication
The applicants who had opted for authentication of Aadhaar number and identified on the common portal, based on data analysis and risk parameters, shall be placed for biometric-based Aadhaar authentication and taking photograph(s) of the applicant.