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In 2024, India’s Goods and Services Tax (GST) landscape has seen a transformative year, with several key amendments and policy changes that have shaped the economy and businesses alike. From smoother compliance processes to the introduction of new provisions aimed at enhancing tax revenue, the year has witnessed both challenges and significant milestones.
The Hon’ble Madras High Court in the case of Udamalpet Sarvodaya Sangham allows the writ petition where it was held that Section 169 of the CGST Act mandates a notice to be served in person or by registered post or to the registered e-mail ID alternatively and on a failure or impracticability of adopting any of the aforesaid modes, then the State can, in addition, make a publication of such notices/ summons/ orders in the portal/ newspaper through the concerned officials.
OTU is organising a webinar on TDS rate and compliance in income tax.
The Hon’ble Supreme Court in the case of Commissioner of CGST and Central Excise Delhi-I v. Ambassador Sky Chef [Diary No. 53701/2024 dated January 02, 2025], dismissed the writ petition on the ground of delay as well as on merits.…
The Telangana high court has upheld the notifications issued by GST authorities, extending the timeframe for issuing show-cause notices related to tax recovery and input tax credit matters for the financial year 2019-20.
Amid global economic uncertainties, the industry has urged the government to extend key export-boosting scheme Remission of Duties and Taxes on Exported Products (RoDTEP) for export-oriented units (EOUs) and special economic zones (SEZs) till September-end.
Finally good news is there for those taxpayers who are eligible to claim section 87A tax rebate but were prevented from claiming it post July 5, 2024. The Income Tax Department has now updated the excel utilities for ITR Forms 2 and 3 to exercise the option to update tax rebate under section 87A for FY 2023-24 (AY 2024-25). The department also said the HTML utilities will be made available shortly. This information was mentioned by the Income Tax Department in the late hours of yesterday.
The Central Government, on the recommendations of the 54th GST Council, had issued Notification No. 22/2024 – CT dated 08.10.2024 and notified that any registered person against whom any order confirming demand for wrong availment of ITC, on account of contravention of provisions of sub-section (4) of section 16 of the said Act had been issued, but where such ITC is now available as per the recently inserted sub-sections (5) and/or (6) of section 16 of the Act, would now be able to file an application for rectification of such demand orders.
Laden with tax demands way above their earnings, gaming companies are moving the Supreme Court (SC) to restrain the taxman from precipitating a crisis.
