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Latest update 16.03.2024

ITC cannot be denied in case of bonafide errors in filing GST returns where no loss of revenue occurs The Hon’ble Bombay High Court in the case of NRB Bearings Ltd. allowed the petition while permitting the Assessee to rectify FORM GSTR-1 and held that in cases of bonafide errors ...

Latest update 15.03.2024

IMPLICATIONS OF GOODS AND SERVICE TAX IN TOUR AND TRAVEL INDUSTRY SECTOR IN INDIA Tourism is a significant contributor to the Indian economy, providing socioeconomic benefits and positively impacting industries like food manufacturing, services, and construction. It creates jobs, generates income and foreign exchange. The tourism and hospitality industry includes ...

Latest update 14.03.2024

Confiscated goods and vehicles can be released by depositing 25% of the amount mentioned in the Order in cash and furnishing a bank guarantee for the balance The Hon’ble Punjab and Haryana High Court in the case of M/s. Kanchan Supplier held that the Assessee has the right to appeal ...

Latest update 13.03.2024

If tax liability including interest has been paid subsequently SCN cannot be issued The Hon’ble Telangana High Court in the case of Rays Power Infra Pvt. Ltd. held that if the taxpayer clears all the tax liability along with interest at any day, prior to the issuance of show cause ...

Latest update 12.03.2024

Export policy of Human Hair for FY 2024-25 Addition of ports for import of new vehicles Notification of Indian Trade Classification (HS) of Export Items, 2023 Import of muskmelon seeds Amendment to Para 2.39 of Foreign Trade Policy, 2023 Export of onions (under HS code 0703 10 19) to Bangladesh ...

Latest update 11.03.2024

Encouraging Women participation in International Trade Telangana Commercial Taxes Department unearths illegal GST refund of Rs.25.65 crore NTTA demands GST cut on Pashmina products Apollo Tyres received penalty notice by GST Dept. in UP Gaming sector's wait for GST review drags on as council meeting unlikely till June 2024 Rs 25.7-crore fake ...

GST Article

A recipient of goods or services cannot file GST refund application

The Hon’ble Madras High Court in the case of Tvl. Norton Granites & Properties Private Ltd. v. Assistant Commissioner (ST) ...

Central Authority cannot conduct audit after State Authority under same subject matter

The Hon’ble Madras High Court in the case of P S K Engineering Construction & Co. v. Assistant Commissioner of ...

Whether the assessment order is valid when GSTR 3B and comparison statements are not considered?

No, the Honorable Madras High Court in the case of Murugan Metals vs. The State Officer (ST) (W.P.No.16582 of 2024 ...

RCM on Commercial Rent – Key Impacts

by R.SRIVATSAN, IRS, NACIN, Chennai RCM on Commercial Rent refers to the Reverse Charge Mechanism, where the recipient (tenant) is ...

GST in Media

Advancing tax administration: Role of technology in India’s tax ecosystem

Over the last few years, the Government of India has been steadfastly focused on transforming tax administration by incorporating state-of-the-art technology. This initiative goes beyond mere amendments to tax laws, representing a comprehensive, reimagined framework for tax governance. As a tax professional, I have observed the substantial effects of these ...

GST notices sent to over a dozen CNG kit providers

The Goods and Services Tax (GST) authorities have sent show cause-cum-demand notices to over a dozen companies providing CNG cylinders to motor vehicles, alleging misclassification of such fuel tanks. Read more at: The Economic Times ...

Income Tax in Media

A major PAN card misuse scam likely unfolding across India; many cases already reported

A major PAN card misuse scam is likely unfolding across the country, ToI reported on June 18. Quite a few ...

19/06/2024 / Income Tax, Income Tax in Media, PAN Card misused

Budget 2024: Income Tax relief for low earners on cards

The Centre is reportedly looking at rationalising the current income tax structure, especially for lower income levels, to boost consumption ...

19/06/2024 / Budget-II 2024-25, Income Tax in Media, income tax slab, Union Budget 2024

Govt looks at income tax rate cut to boost demand, trigger private investment

As the Indian economy grapples with the problem of flagging consumption, policymakers in the government are in favour of rationalising ...

19/06/2024 / Income Tax, Income Tax in Media, income tax slab

Income Tax returns show doubling of capital gains in AY23

Income tax assessees have shown capital gain nearly double, during Assessment Year 2022-23 (AY23), as compared to AY22. Interestingly, Long ...

19/06/2024 / Capital gain, Income Tax, Income Tax in Media

Budget 2024: Personal income tax rates likely to be slashed

The government is reportedly considering reforms to the current income tax structure, particularly targeting lower income levels, to boost consumption, ...

19/06/2024 / Budget-II 2024-25, Income Tax in Media, income tax slab, Union Budget 2024

Lawgics-Judgments

GST Daily

Lawgics – Judgment No. 188

Synopsis: The Department can proceed under Section 35(6) or 73 or 74 of the UPGST Act instead of Section 130 ...

Lawgics – Judgment No. 187

Synopsis: Orders issued under Section 73 of the CGST/SGST Acts must carry the digital or manual signature of the officer ...

Lawgics – Judgment No. 186

Synopsis: GST RC cancellation order was passed with retrospective effect from 01.07.2017 for the only reason set out in the ...

Lawgics – Judgment No. 185

Synopsis: Since the GST portal for filing Form ITC-02 was non-functional in 2017, faulting the Petitioner for not filing it ...

Lawgics – Judgment No. 184

Synopsis: The SCN and GST cancellation order lacked proper reasoning and showed non-application of mind, therefore, were aside. JudgmentGIST-181Download ...

Lawgics – Judgment No. 183

Synopsis: Central Authorities do not have jurisdiction to issue summons, when State Authorities had already investigated the transactions by putting ...

GST DAILY – 310

AAR AAR AAR Tamil Nadu Article renting of immovable property sec 142 of cgst act

GST to be paid on entire increased rent received for period 01.09.2005 to 31.08.2022: AAR 01 Aug 2024 ...

GST DAILY – 309

Article Calcutta HC composition scheme gst HC High Court ITC 01 rule 40 of cgst rules

HC condoned delay for filing Form ITC-01 and directed AO to permit assessee to file it ...

GST DAILY – 308

Article GST returns HC High Court Madras HC

HC remanded matter as tax liability was imposed due to inadvertent error while filing GSTR-3B ...

GST DAILY – 307

Article GST Refund HC High Court Madras HC

Refund application for excess GST paid by recipient on construction services not maintainable; HC dismissed writ petition ...