Latest update 04.05.2024
A. Amendment
Instruction No. 12/2024-Customs dated 01.05.2024
The Central Board of Indirect Taxes and Customs issued an Instruction No. 12/2024-Customs dated 01.05.2024 regarding Instruction on review of requirement of G-Card holders at a Customs Station and conduct of G-Card examination in terms of Regulation 13 of CBLR, 2018. Read more
Notification No. 34/2024-Customs (N.T.) dated 02.05.2024
CBIC issued Notification No. 34/2024 – Customs (N.T.) dated 02.05.2024 in supersession of the Notification no. 30/2024 – Customs (N.T.) dated 18.04.2024. CBIC hereby determines that the rate of exchange of conversion of each of the foreign currencies into India Currency or vice-versa. The changes shall be effective from 03.05.2024. Read more
B. Articles
Collection of Entry Fee from visitors for Temple Hall Exempt under GST
The AAR Rajasthan in the case of In Re. Shri Digamber Jain SidhkutChaityalaya Temple Trust ruled that, the entry fee collected from the visitors/devotees/pilgrim by the Applicant is covered under the charitable activities relating to the advancement of the religion and therefore, would not be taxable under the GST. Read more
Proper officer shall pass an order within seven days of service of notice of such detention or seizure of goods or conveyance
The Hon’ble Patna High Court in the case of Pawan Carrying Corporation held that the proper officer must issue the notice right within seven days of detention or seizure of goods or conveyance. There is no reason to wait for an application by the driver of the vehicle for the verification of the goods when the vehicle is intercepted. Lastly, the order should be passed within seven days of the service of notice of such detention or seizure of goods or conveyance. Read more
C. GST Portal
GST Portal enhancing services -downtime
GST Portal services will not be available until 4th May’24 06:30 AM. Read more
D. GST Lawgics
Lawgics – Judgment No. 123
On perusal of the impugned order, the reasons set out for rejecting the application was “On verification of the refund details, with GSTR 1, GSTR 3B and GSTR 2A returns, the inverted turnover does not match with GSTR Returns.” Read more
E. Tax in Media
DGGI launches probe into ‘tax evasion’ worth Rs 18k cr by agricultural brokerage houses
DGGI has initiated a probe into alleged tax evasion of about Rs 18,000 crore by agricultural brokerage houses, officials said, adding that the agency will soon issue notices to these brokerages. Read more
The President in GSTAT is being appointed
The Government of India, appoints Justice (Retd.) Sanjaya Kumar Mishra, Former Chief Justice, High Court of Jharkhand, to the post of President in Goods and Services Tax Appellate Tribunal (GSTAT). Read more
Furnish data on GST notices & arrests, SC directs Centre
The Supreme Court has asked Centre to furnish details of issuance of notices and arrests done under the provisions of the Goods and Services Tax, saying it may interpret the law and lay down appropriate guidelines to avoid any harassment of citizens by depriving their liberty. Read more
Zomato faces fresh GST demand and penalty worth over Rs 2 crore
In a recent development, online food delivery giant Zomato has found itself in the crosshairs of tax authorities yet again. The company has received a demand and penalty order exceeding Rs 2 crore from a sales tax officer in Delhi. Read more
Manpasand Beverages scam: How Sebi exposed the Rs 40-crore GST fraud
Securities and Exchange Board of India (Sebi) has barred Manpasand Beverages Ltd (MBL) and its top officials and directors from the securities markets for a period of three years from now and also imposed a total penalty of Rs 74 lakh for manipulating and mis-reporting the company’s financial statements. Read more
Rates of Duty Drawback for certain specified goods amended w.e.f 03.05.2024
Rates of Duty Drawback in respect of certain commodities falling under Chapters 3, 16, 42, 63, 72, 75, 81, 85, 87, 88 and 93 have been amended. The changed rates will be effective from 03.05.2024. Read more
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