Latest update 06.04.2024

GST shall be levied on payment of lump sum upfront premium as transfer charges of leasehold rights

It is in the nature of compensation for agreeing to do the transfer of the Applicant’s rights in favour of the Assignee. It is a service classifiable under “Other miscellaneous service” i.e., SAC 999792 and taxable at the GST rate of 18% under SI No. 35 of Notification No. 11/2017- Central Tax (Rate) dated June 28, 2017. Read more

Assessee is entitled to Interest immediately after the expiry of sixty days from date of refund applications till date on which refund was credited to bank account

The Hon’ble Delhi High Court, in the case of Raghav Ventures held that the Petitioner is automatically entitled to interest at 6% under Section 56 of the CGST Act if the refund is not processed within 60 days from the date of refund application till date on which refund was credited to the bank account of the Petitioner. Read more

HDFC Life Insurance gets GST notice of Rs.103 crore

HDFC Life Insurance Co Ltd has received a goods and services tax demand notice of nearly Rs.103 crore from the state tax department of Gujarat for the assessment year 2018-19 (April–March), the company notified the exchanges today. Read more

Lawgics – Judgment No. 104

The petitioner’s consignment of jewellery worth Rs.58,21,206/- was intercepted as it was not accompanied with relevant documents as is mandated under the provisions of the CGST/SGST Act and the Rules made thereunder. Read more

Central GST Raipur busts fake firm network, one held

In a significant crackdown on fraudulent practices under the Goods and Services Tax (GST) regime, the Central GST (CGST) officials in Raipur unearthed network of 13 fake firms engaged in generating bogus invoices. Read more

Income Tax Officials Raid At DMK Leader R Avudaiyappan’s Residence

A team of Income Tax department officials searched senior DMK leader and former Tamil Nadu Assembly Speaker R Avudaiyappan’s residence on Thursday. Read more

Supreme Court permits transfer of 27 GST cases; GamesKraft & EGF matters to be heard on 1 May tentatively

The Supreme Court bench headed by CJI and comprising of Justice JB Pardiwala and Manoj Misra summarily allowed the government’s transfer petition of 27 writ petitions. Read more

Duty free imports of yellow peas with bill of lading issued on or before 30.06.2024

CBIC issued Notification No. 23/2024- Customs dated 05.04.2024. The notification seeks to amend No. 64/2023-Customs, dated the 7th december, 2023 in order to allow duty free imports of yellow peas with bill of lading issued on or before 30.06.2024. Read more. Read more

Ice cream not a luxurious item, says Chhattisgarh High Court

Chhattisgarh High Court said that ice cream is not a luxurious item and has directed GST Council to reconsider the exclusion of Small-Scale Manufacturers of Ice Cream from the composition scheme. Read more