A. Amendment
Customs: Notification No. 25/2024-Customs dated 06.05.2024
The Central Government issued a Notification No. 25/2024 – Customs dated 06.05.2024 to make amendment in the notification no.50/2017-customs dated 30.06.2017. Read more
B. Article
GST Tribunal – Coming Soon… Key Considerations Ahead!
The formation of the GSTAT is eagerly awaited by all stakeholders, as more than 15000 Cases are pending! As the President has now assumed office, the government must provide clarification on the applicable time limit to prevent potential further litigation. Read more
Service Tax: Delhi HC issues notice where SCN is adjudicated upon after 11 years
The Hon’ble Delhi High Court heard the case of M/s. Payworld Digital Services Private Limited on April 26, 2024 where the Show Cause Notice was adjudicated upon by the Revenue Department after a delay of 11 years and 9.5 years. Read more
C. GST Notes/ Lawgics
Lawgics – Judgment No. 124
The petitioner is levied with double tax as he has already paid the tax as required to be paid and once again he paid the tax with penalty and therefore, same is liable to be refunded. Read more
D. Tax in Media
GST: Car dealers may have to pay 18% GST on sale of demonstration cars
Car dealers will have to shell out an 18 per cent goods and services tax (GST) on the reimbursement of losses on sale of demonstration cars from car companies if the West Bengal ruling in a case related to a Mercedes Benz India (MBI) dealer sets a precedent. Read more
GST: SC rejects plea by Micro and Small businesses challenging 45-day pay rule in Income Tax law
Micro and Small Enterprises (MSEs) received a setback on Monday as the Supreme Court declined to hear their plea against the new Income Tax provision. However, the apex court granted the MSEs leave to pursue their case in the High Court. Read more
GST: Five GST officials arrested in refund fraud cases
The Detective Department (DD) of the Hyderabad Central Crime Station (CCS) on Friday arrested five GST officials involved in seven group cases of GST refund fraud cases involving about Rs.46 crore. Read more
GST: Centre may push for 12% GST for health insurance; lower rate seen to widen cover
To make health insurance more affordable and attractive, the Centre may push for a lower GST tax rate to 12%, compared to 18% now, on health insurance premiums up to Rs 30,000. Read more
GST: IDBI Bank Gets Rs 2.97 Crore GST Demand Order
IDBI Bank on Tuesday said it has received a GST demand order of Rs 2.97 crore along with interest and penalty for alleged excess availment of input tax credit (ITC). Read more
GST: LTIMindtree gets GST demand order of Rs.155.7 crore for FY19
Indian IT services company LTIMindtree Ltd on Monday (May 6) said it has received an order under Section 73 of the Maharashtra Goods & Services Tax Act, 2017, demanding a sum of Rs.155.7 crore. Red more
Income Tax: CBI arrests income tax officer for accepting Rs 4 lakh bribe
The Bombay high court recently ruled that rental compensation also termed as “Transit rent,” received from a builder during a redevelopment project, is not taxable and hence not subject to Tax Deducted at Source (TDS). Read more
Income Tax: Data Sharing Among Authorities, Taxpayers Can Help Improve IT Dept AIS Functionality: Deloitte
Deloitte India on Sunday said creating a seamless data exchange and establishing a framework for efficient data sharing among businesses, tax authorities and taxpayers would help improve the AIS functionality of the income tax department. Read more
Other tax in media: Pune EPFO Office Cheated of Rs.18cr: Authorities Launch Investigation
The Wanowrie police have booked 89 beneficiaries of Aatmanirbhar Bharat Rozgar Yojana (ABRY) for cheating Employees Provident Fund Organisation (EPFO), Pune regional office, of over RS.18.04 crore. Read more
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