If tax liability including interest has been paid subsequently SCN cannot be issued
The Hon’ble Telangana High Court in the case of Rays Power Infra Pvt. Ltd. held that if the taxpayer clears all the tax liability along with interest at any day, prior to the issuance of show cause notice, they would not liable for any further additional taxes by way of penalty or interest and the proceedings will be considered concluded. Read more
GST DAILY – 176
HC granted relief to assessee to take 10% of amount required for filing appeal as his bank a/c was frozen by GST dept. Read more
GST DAILY – 177
HC directs GST Dept. to consider representation of assessee alleging technical problems in GSTN portal. Read more
GST DAILY – 178
Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017. Read more
Lawgics – Judgment No. 88
Detailed investigation was conducted by DGGI and during investigation, it was found that many of the fake firms issuing invoices to M/s Kaizan Organics Pvt. Ltd. are being run by one and the same person, i.e, the petitioner Ashutosh Garg. Read more
HC rejects bail of man held for GST evasion of Rs.1,033cr
Hearing the bail application of a businessman who was arrested by the DGGI for GST evasion of Rs. 1,033 crore, the high court observed that there cannot be any straight jacket formula to decide the bail application in favour of accused merely because the alleged offence was triable by the court of first class judicial magistrate and punishable with an imprisonment of five years. Read more
MHA decides to extend financial support of 50% on GST
MHA decides to extend financial support of 50% on GST on purchase of goods from Kendriya Police Kalyan Bhandar as a welfare measure, the decision to be effective from 1st April 2024. Read more
Insurance cos plan to file writ petition seeking GST clarity
Insurance players are planning to file a writ petition over the tax demand on commission paid for co-insurance, seeking a clarity from the court as levying Goods and Services Tax (GST) on the commission will amount to double taxation. Read more
Exemption of import duty on import of gold by RBI
The Central Government issued Notification no. 14/2024-Customs dated 12.03.2024 to exempt gold falling under Customs Tariff heading 7108 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by Reserve Bank of India. Read more
Import duty increased on goods falling under chapter 90 of CTA
The Central Government issued Notification no. 15/2024-Customs dated 12.03.2024 to amend entry in column (4) against tariff items 9022 30 00 and 9022 9090 of Chapter 90. Read more
Amendment in notification no. 50/2017-customs
Notification no. 16/2024-Customs dated 12.03.2024 is being issued to make further amendments in the notification no. 50/2017- Customs dated 30.06.2017. Read more
Centre considering amendments to MSME Development Act to ensure timely payments to small businesses
The Centre is looking at further enabling provisions to ensure award of delayed payments to micro, small and medium enterprises (MSMEs) by possible amendments in the MSME Development Act, 2006. Read more
Revenue Secretary virtually lays Foundation stone of New GST Bhawan & Residential Quarters, Hyderabad
Revenue Secretary, Shri Sanjay Malhotra today virtually laid the foundation stone for the New GST Bhawan and Residential Quarters at Hyderabad for officers and staff of CGST and Customs, Hyderabad Zone under Central Board of Indirect Taxes and Customs (CBIC). Read more
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