Latest update 22.06.2024

Proper Officer had to at least consider the reply on merits and then form an opinion

The Hon’ble Delhi High Court Mitsubishi Electric India (P.) Ltd. set aside the order and held that the Proper Office must at least consider the reply furnished by the Assessee on merits and then form an opinion. Read more

Marketing Support is Business Support, Not Intermediary

Hon’ble CESTAT’s significant clarity; Marketing Support is Business Support, Not Intermediary Read more

Whether Audit proceedings by the SGST Authority can continue if the same subject matter is pending before the SGST Authority?

The Honorable High Court of Calcutta in the case of Mahabir Prasad Kedia held that the Audit Wing of the State Goods and Services Tax Authority should keep the proceedings in abeyance if the subject matter was pending before the Central Goods and Services Tax Department. Read more

Impugned Order liable to be set aside when reply filed by the Assessee in response to the discrepancies raised in returns has not been taken into consideration

The Hon’ble Madras High Court in Perfect Assayers (P.) Ltd. allowed the writ petition and set aside the Order-in-Original and Show Cause Notice when reply filed by the Assessee in response to the discrepancies raised in returns has not been taken into consideration. Read more

Lawgics – Judgment No. 148

GST Assessment proceedings cannot be initiated against deceased person Read more

Old Regime vs New Regime : ITR

Guidance regarding selection of Old tax regime and New tax regime Read more

GST Portal downtime 22.06.24

GSTN Downtime Read more

GST Council set to amend alcohol tax laws, enable dispute settlement

GST Council is planning amendments to GST laws concerning extra neutral alcohol (ENA), a highly pure form of alcohol used in liquor production but not for direct consumption. Read more

GST council to clarify reinsurance stance in upcoming meeting

The GST Council of India is set to clarify that reinsurance is not a supply of service at an upcoming meeting, according to a report. Read more

GST Council meeting may focus on procedural, compliance issues

The upcoming meeting of the Goods and Services Tax Council is likely to focus on procedural issues and clarifications as well as pre-Budget discussions. Major decisions such as the review of the 28% tax on online gaming may be taken at a later date. Read more

GST Council Meet on June 22: What’s on the agenda?

Industry is looking at discussions during the GST Council meeting on the revival of a plan to restructure the complex multiple-rate tax structure, with GST revenue having already risen significantly. The industry is also expecting a review of the 28 per cent levy on online games, horse racing and casinos.  Read more

‘Taxpayers want rationalisation of GST rates, amnesty scheme’

As GST completes seven years, taxpayers have demanded rationalisation of rates, faceless dealing with authorities and an amnesty scheme, a survey by a leading consulting firm showed. Read more

GST Council’s 28% tax triggers job losses in India’s real-money gaming sector

GST Council’s move to impose a 28 percent tax on player deposits in real-money games has led to a significant job erosion in India’s rapidly growing skill gaming industry, as per a joint report by Ernst and Young (EY) and the US-India Strategic Partnership Forum (USISPF). Read more

Industry suggests FM to increase Capex, restructure GST slabs and give relief to taxpayers

As part of pre-budget deliberation, industry representative bodies met Union Minister for Finance and Corporate Affairs on Wednesday in the national capital. During the meeting, industry representatives demanded the restructuring of GST tax, lowering of tax, and increased capital expenditure. Read more

F&O transactions may attract higher tax rate

The proposed steps include moving F&O from the head of ‘business income’ to ‘speculative income’ and/or also introducing a tax-deductible-at-source (TDS) in the upcoming Budget, sources in the know said. Read more

GST rate rationalisation panel reconstituted, Bihar dy CM named convenre

Bihar Deputy Chief Minister Samrat Chaudhary has been appointed as the convenor of the GoM on GST rate rationalisation. Read more

Customs clearing agent held in 175-cr GST refund scam

The scam came to light after the sales tax department conducted an audit and found that a group of 16 companies had submitted 39 tax refund applications for a total sum of Rs. 175 crore without paying any tax to the exchequer. Read more