The Hon’ble Gujarat High Court in the case of M/s Shivani Enterprise Proprietor Vibhor Shivkumar Vaid dismissed the writ petition challenging the Show Cause Notice and the consequent Order-in-Original imposing penalties for alleged fraudulent availment of ITC from a non-existent supplier
Industry seeks input tax credit relief for data centres, GCCs, other biz
Industry bodies have sought relief from goods and services tax (GST) rules that prevent businesses from claiming input tax credit (ITC) — the credit for GST already paid on goods and services used for business — on certain expenses, according to people familiar with the matter.
Tax Department undertakes verification of suspicious
Based on ground intelligence and analysis of data on outward foreign remittances, the Income Tax Department has identified several suspicious entities that remitted large amounts of foreign exchange over the last three years.
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