Latest update 02.04.2024

High Court allows refund of ITC reversed when Tax is paid by the Supplier`

The Hon’ble Delhi High Court in the case of Pedersen Consultants India Pvt. Ltd. date disposed of the writ petition, thereby allowing the registered person to file refund application for ITC reversed when subsequently returns have been filed and taxes have been paid by the Supplier. Read more

GST Registration not to be cancelled based on incorrect field visit report

The Hon’ble Delhi High Court in the case of Gulab Nagar disposed of the writ petition thereby holding that, revocation application filed by the Assessee has to be taken into consideration in case where the GST Registration has been cancelled by the Revenue Department based on incorrect field visit report. Read more

GST DAILY – 196

Identical SCN except for change in period which was already quashed is also liable to be set aside. Read more

GST DAILY – 197

HC condones delay and directs Appellate Authority to dispose of appeal on merits if received within 10 days from date of order. Read more

GST DAILY – 198

`HC denied bail to person who availed huge amount of bogus ITC as investigation was still going on. Read more

Second highest monthly Gross GST Revenue collection in March

Gross Good and Services Tax (GST) revenue for March 2024 witnessed the second highest collection ever at Rs.1.78 lakh crore, with a 11.5% year-on-year growth. Read more

Bombay HC quashes GST Authority’s improper SCN, saving employees of Maersk Line India from Rs. 3731 Cr demand

The Bombay Court has quashed the improper Show Cause Notice (SCN) issued to employees of Maersk Line India of Rs. 3731 Cr Demand assuming that the employees have benefitted from the transactions made by the company. Read more

No change in income tax slabs from April 1, 2024: Finance Ministry

Misinformation on the new tax regime has been spreading on certain social media channels. To set the record straight, the ministry clarified several key points: Read more

Excel Utilities of ITR-1, ITR-2 and ITR-4 for AY 2024-25 are available for filing

Common Offline Utility for filing income tax returns in Form ITR 1, ITR 2 and ITR 4 for they year 2024-25 is made available in the income tax portal on 01.04.2024. Utility. Read more

Offline Utilities for ITR-1, ITR-2, ITR-4 and ITR 6 for AY 2024-25 are available for filing

Income tax portal news and flash highlights as “Offline Utilities for ITR-1, ITR-2, ITR-4 and ITR 6 for AY 2024-25 are available for filing. Click here to download.’ Read more

ITR-1, 2 and 4 are enabled to file through Online mode

Income Tax Return Form of ITR-1, 2 and 4 are enabled to file through Online mode. Read more

Common offline utility for Form 3CA-3CD and 3CB-3CD

Date of Latest release of Form Utility 01-Apr-2024. Read more

Employee Provident Fund (EPF): New EPFO rules effective from today that you should know

Starting April 1, the Employees’ Provident Fund Organization (EPFO) will introduce important changes. According to various media reports, with the new rule, when an individual changes jobs, their old Provident Fund (PF) balance will be automatically transferred to the new employer. Read more

Gross Direct Tax collections for 2023-24 register a growth of 18.74%

The provisional figures of Direct Tax collections for the Financial Year 2023-24 (as on 17.03.2024) show that Net collections. Read more

HRA : I-T department unearths mass misuse of PANs for tax benefits

The Income Tax Department has discovered numerous cases of individuals using fraudulent Permanent Account Number (PAN) cards to illegally claim House Rent Allowance (HRA), even though they are not actually tenants. Read more