Updates

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Recent update

A. Amendment Sr. no.CategorySubjectIn briefIn detail / Reference1CustomsNotification No. 49/2024-Customs (N.T.) dated 15.07.2024Regarding fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silverclick here to read more2CustomsNotification No. 50/2024-Customs (N.T.) dated 19.07.2024Extension of RoDTEP support to exports by unit in SEZclick here to read more3CustomsNotification No.14/2024-Customs ...
A. Amendment Sr. no.CategorySubjectIn briefIn detail / Reference1GSTCBDT awards Taxnet 2.0 Project to M/s Bharti-Airtel LtdCBDT has awarded the Taxnet 2.0 project to M/s Bharti-Airtel Ltd for providing network connectivity, facility management services and video conferencing services to the Income Tax Department (ITD), subsequent to approval by the Government.click here ...
A. Update Sr. no.CategorySubjectIn briefIn detail /Reference1Income-taxHow to e-Verify your Income Tax Returns to complete the return filing processYou need to verify your Income Tax Returns to complete the return filing process. Without verification within the stipulated time, an ITR is treated as invalid. e-Verification is the most convenient and ...
A. Amendment/Update Sr. no.CategorySubjectIn briefIn detail / Reference1GSTIntegrated Services from NIC-IRP e-invoice-1 and e-invoice-2 PortalsGSTN wish to inform that NIC is releasing the integrated services from e-invoice-1 and e-invoice-2 portals on 18th July 2024 on sandbox portals and 1st Aug 2024 on the production portals.click here to read more2Income-taxNotification no ...
A. Amendment Sr. no.CategorySubjectIn briefIn detail / Reference1DGFTDGFT-Public Notice No. 14/2024-25 dated 16.07.2024DGFT issued Public Notice no. 14/2024-25 on 16.07.2024 to make amendment in Para 4.49(b) of the Handbook of Procedures, 2023click here to read more WEBINAR on “Top 10 Implementations of Recommendations by 53rd GST Council Meeting” on 20.07.2024 ...
A. Amendment Sr. no.CategorySubjectIn briefIn detail / Reference1GSTCircular no. 228/22/2024-GST dated 15.07.2024It provides clarifications regarding applicability of GST on certain services.click here to read more2GSTCircular no. 229/23/2024-GST dated 15.07.2024It provides clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 53rd GST meetingclick ...

GST Article

CHANGES IN CUSTOMS The Finance Minister introduced the Finance (No.2) Bill, 2024 in Lok Sabha today, 23rdJuly 2024. Changes in ...
The Finance (No.2) Bill, 2024 has proposed changes in the CGST Act, IGST Act, UTGST Act and GST (Compensation to ...
Full Finance Budget will be presented by FM on 23rd July, 2024 at 11 am. Industries have made representations to ...
Section 87A of the Income Tax Act provides a rebate of ₹25,000 if the income of an individual taxpayer is ...
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GST in Media

In a landmark move set to redefine India's tax landscape, the Finance Minister's Budget 2024 presentation in Parliament unveiled a game-changing addition to the Goods and Services Tax (GST) framework. The Newly introduced Section 74A promises to revolutionize tax compliance and enforcement in the country. As the dust settles on ...
Noida, Jul 21 (PTI) Real estate developers in Noida and Greater Noida in western Uttar Pradesh expect the first Budget of the Modi 3.0 government to accord 'industry status' to their sector for easier access to funds, and address woes related to GST, including the 28 per cent taxation on ...
Stakeholders in the farm sector, equally important in ensuring a robust harvest and better prices, are wondering if Finance Minister will announce something new or tweak some taxes/rates to prop up growth. businessline compiled some expectations from key players in the farm sector. Read more at: The Hindu business line ...
As India gears up for a full budget following the elections, the travel, tourism and hospitality industry is poised for significant growth and development. The interim budget of February 2024 had already set a positive roadmap, with substantial increases in budgetary allocations for the tourism ministry, highlighting a clear focus ...
Better monitoring has helped improve Goods and Services Tax (GST) compliance in the State from 68% to 82% over the past six months, a senior officer from the Commercial Taxes Department told members of a frontline trade and industry body here on Friday. The plan is to ensure 90% tax ...
The oil and gas industry continues to hope for some reprieve from taxes and inclusion of the sector in the goods and services tax (GST) regime. “An additional duty imposed since July 2022—the Special Additional Excise Duty (SAED)—has jeopardised financial stability of oil and gas operators and is adversely impacting ...

Income Tax in Media

The 2024 budget has increased the securities transaction tax (STT) on Futures & Options (F&O) of securities to 0.02 percent ...
As per budget 2024 proposal you will now get a higher amount of payout from your life insurance policy as ...
The Budget 2024 has proposed to lower the higher tax deduction for individuals. As per the announcement, individuals who have ...
In a bid to bolster the Indian startup ecosystem, the Centre today announced the abolishment of angel tax for all ...
The Confederation of of West Bengal Trade Association has pleaded for an increase in the income tax limit in this ...


Lawgics-Judgments

GST Daily

Synopsis: Procedural delays do not hinder justice, especially when the petitioner has made bona-fide efforts to comply with appeal requirements, ...
Synopsis: Once an amalgamating entity ceases to exist upon an approved Scheme of Amalgamation, the Revenue cannot issue SCNs in ...
Synopsis: Cancellation of GST registration is not contingent upon tax liability. Judgment no. 158 dated 18.07.2024 is presented below for your reading ...
Synopsis: Procedural mistakes in transitioning ITC should not lead to denial of credit if substantive entitlement is proven, when petitioner ...
Synopsis: Any communication without a DIN is deemed invalid and considered as never issued as per Circular No. 122/41/2019-GST dated ...
Since the SCN for cancellation of RC was not issued in the correct form, the entire proceedings, including the cancellation ...
THE HON'BLE MADRAS HIGH COURT IN THE CASE OF ANGEL LABEL DIVISION AND ANGEL ZIPPEL (HUF) V/S ASSISTANT COMMISSIONER (ST)(FAC), ...
HC remanded matter as AO imposed tax liability though services were taxable on RCM basis ...
Order confirming demand to be quashed since assessee explained disparity due to reflecting GST amount under wrong head: HC ...
HC remanded matter as ITC was rejected without considering documents produced by assessee ...
Limitation Act doesn’t apply to appeals filed under GST law ...
Confiscation of stock based on estimate is illegal; HC slams authorities for acting in a callous manner: HC ...

Lawgics-GST Notes

Lawgics – serial no. 164

Lawgics / GST Notes by Advocate and Author Nidhi Aggarwal. Sec.168A and interpretation thereof ...

Lawgics – serial no. 163

Lawgics / GST Notes by Advocate and Author Nidhi Aggarwal. Sec.168 and interpretation thereof ...

Lawgics – serial no. 162

Lawgics / GST Notes by Advocate and Author Nidhi Aggarwal. Sec.167 and interpretation thereof ...

Lawgics – serial no. 161

Lawgics / GST Notes by Advocate and Author Nidhi Aggarwal. Sec.162 and interpretation thereof ...

Lawgics – serial no. 160

Lawgics / GST Notes by Advocate and Author Nidhi Aggarwal. Sec.162 and interpretation thereof ...

3 thoughts on “Updates

  1. Most important and effective information shared by your team
    Thanks alot, request send the future updates and guide me in respect of GST laws

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