A. Amendment
DGFT Notif. 25/2024-25 dt 02.09.2024
DGFT issued Notification no. 25/2024-25 dated 02.09.2024 on SCOMET Updates 2024 – Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items, 2018.
Bank Accounts section with a new interface
Bank Accounts section under the Amendment of Registration Non-Core Fields has been updated with a new interface as below:
B. Article
Assessing Officer must provide a reasonable opportunity for personal hearing to Assessee
The Hon’ble Madras High Court in M/s. Murgan Metals set aside the Assessment Order and held that the Assessee was required to be provided reasonable opportunity to contest tax demand on merits.
Penalty not leviable due to expiry of E-way bill when there is no intention to evade payment of tax
The Hon’ble Allahabad High Court in Raghuveer Ispat Private Limited allowed the writ petition and set aside the order imposing penalty under Section 129(3) of the CGST Act on the ground that e-way bill expired during the course of transportation of goods.
GST liability is not applicable before its enactment
The Hon’ble Patna High Court in D.B.S. Construction (P.) Limited held that if the Assessee makes any representation for refund of GST deducted, Authorities were to be directed to dispose of same strictly in accordance with law as expeditiously as possible preferably within a period of eight weeks from date of said representation and disposed of the writ petition.
C. Tax in Media
Three key changes in September that can impact your GST return filing
Your GST return filing may see significant changes in September that can impact your compliance and financial reporting processes. These changes include new reporting thresholds and liability adjustments which will impact every taxpayer.
Who is required to file audit report by Sept 30?
Author CA Umesh Sharma in his Karneeti Part 559 published in LOKMAT TIMES writes on topic “Who is required to file audit report by Sept 30?
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