A. Amendment
Verification of FOB value indicated on COO Certificates issued as per ASEAN India Trade in Goods Agreement
CBIC issued Circular dated 08.06.2024 addressing to The Chief Commissioner of Customs, Mumbai Customs Zone – II, JNCH, Raigad, Maharashtra regarding verification of FOB value indicated on COOO Certificates issued as per ASEAN- India Trade in Goods Agreement Read more
GST Portal downtime 09.06.2024
GSTN shall be enhancing services on the GST portal on 9th June’24 12:00 AM onwards. GST Portal services will not be available until 9th June’24 6:30 AM. Read more
Income tax portal downtime
Due to scheduled maintenance activity, View / Raise Grievance functionality will not be available between 10:00pm on 8th June 2024 to 1:00am on 9th June, 2024. Read more
B. Article
DGGI Officer empowered to issue SCN
The Hon’ble Madras High Court in the case of Famina Shopping Mall (P.) Ltd. dismissed the writ petition and held that the officer of Directorate General of GST Intelligence (“DGGI”) is a proper officer for issuance of Show Cause Notice. Read more
Whether the Superintendent can pass the order beyond the jurisdictional monetary limits prescribed?
the Honorable Allahabad Hight Court in the case of Mansoori Enterprises held that as per Circular dated 09.02.2018, power of the Superintendent, Central Goods and Service Tax & Central Excise is limited to the matter not exceeding Rs. 10,00,000/- and in the present case the amount involved is more than Rs. 16,00,000/- and consequently, the order passed by the Superintendent is without jurisdiction. Read more
Mandatory E Way Bill required (without any Value Limit) in case of Inter State Movement of Goods for “Job Work”
In case of Inter state movement of Goods for Job work, then E-way bill is required in all cases, irrespective of any value. Read more
C. Tax in Media
Industries, MSMEs in TN urge new govt to bring in reforms fostering growth
As Prime Minister Narendra Modi is set to form the government for the third time, industries in the state are anticipating policies aimed at fostering economic growth, sustainability, and innovation besides providing positive reforms in the Micro, Small and Medium Enterprises (MSMEs). Read more
GST officer surrenders in court
The Punjab Vigilance Bureau (VB) today arrested Balbir Kumar Virdi, Joint Director, GST, Punjab Excise Department, now posted as Deputy Commissioner State Taxes, head office, Patiala. Read more
Gas sector may come under GST purview in Modi 3.0, GAIL, MGL to be top beneficiaries: Citi
Citi’s optimism rested on the NDA government still possessing the requisite majority in the GST Council. It said that one of the significant developments in the Modi 3.0 government could be the bringing of the gas sector under the GST ambit. Read more
Surat : Famous Ice-Cream Brands Under SGST Scrutiny For Cash Transactions
The State Goods and Service Tax (SGST) department in Surat has unearthed serious irregularities within renowned ice-cream brands, including Bismillah and 51-Rainbow. The investigation revealed cash transactions worth Rs 2 crore from both groups and their franchises. Read more
GSTN rolls out form for tobacco manufacturers to report inputs, outputs
The GST Network (GSTN) has rolled out a special form for manufacturers of pan masala and tobacco products to report inputs and outputs procured with tax authorities to check evasion. Read more
Why moonlighters should file income tax return
ITR filing for moonlighters. Lubna Kably, in a recent news report in the Times of India, writes that these individuals need to be careful in choosing the right income-tax return and also in meeting the new compliance requirements if they are opting for the old tax regime. Read more
IDBI Bank gets income tax order worth Rs.2,702 crore refund for AY 2016-17
IDBI Bank has got an income tax refund order amounting to Rs.2,701.62 crore for the assessment year 2016-17. Read more
Abuse of ‘Rules of Origin’
Customs authorities have started closely looking at such imports and have withheld consignments over concerns that FTA provisions are being abused – goods routed through countries with which India has a trade agreement and therefore eligible for lower import duty. Read more
Subscribe Newsletter
Webinar Videos Watch here
Join WhatsApp Channel
Follow at Twitter
Support contribute
Share this content:
