A. Amendment
Notification No. 76/2024-Customs (N.T.) dated 11.11.2024
CBIC issued Notification No. 76/2024-Customs (N.T.) dated 11.11.2024 to further amend the Notification no. 12/97-Customs (N.T.) dated 02.04.1997.
Notification No.24/2024-Customs (ADD) dated 11.11.2024
CBIC issued Notification no. 24/2024-Customs (ADD) dated 11.11.2024 where the designated authority recommended imposition of anti-dumping duty on imports of the subject goods ““Epichlorohydrin”, originating in, or exported from the subject countries China PR, Korea RP and Thailand and imported into India, in order to remove injury to the domestic industry.
Advisory regarding IMS during initial phase of its implementation
Invoice Management System (IMS) is an optional facility introduced from October 2024 on GST Portal, on which the invoices/records saved/furnished by the supplier in GSTR-1/1A/IFF, can be accepted, rejected or kept pending by recipients. Based on the action taken by the recipient on the IMS, system will generate the GSTR 2B of the recipient on 14th of subsequent month.
B. Article
HC directs department to allow filing of appeal for part period which could not be filed due to technical issue on portal
by CA Bimal Jain
The Hon’ble Calcutta High Court, in the case of M/s. East India Shipping Agency directed the Department to allow filing of the appeal filed for the part period, stating that the Department should allow filing of appeal for the disputed part period which could not be accepted due to technical issue on GST portal.
C. Tax in Media
18% GST: HC quashes order on sanitisers
The Bombay HC on Monday quashed the Centre’s 2020 release classifying hand sanitisers as disinfectants attracting 18% GST, noting that the issue of classification lies with the judicial and quasi-judicial adjudicatory authorities.
HC Grants Govt More Time On Constituting GST Appellate Tribunal
The High Court of J&K and Ladakh has granted the government two weeks more time to file the latest status report with regard to the constitution of the GST Tribunal in Jammu and Kashmir.
Himachal Pradesh High Court upholds levy of GST on mining royalty payable under mining concession granted by State
The Himachal Pradesh High Court in the case M/s. Lakhwinder Singh Stone Crusher v. Union of India & ors. observed and has dismissed a writ petition challenging notifications issued by the Central government for levy of GST on Royalty paid by a Mineral Concession Holder for mining concession granted by the State.
Union Budget 2025: Govt may unveil simplified direct tax code to reduce litigation and boost compliance
As the government prepares to present the Union Budget for 2025 on February 1, the Central Board of Direct Taxes (CBDT) is working on a simplified version of the income tax laws. Sources have told CNBC-TV18 that the ongoing comprehensive review of direct tax laws aims to ease legal hurdles and reduce the litigation burden for both the government and the industry.
India’s direct tax collection surges 15.4% to Rs. 12.1 lakh crore by November
The Central Board of Direct Taxes (CBDT) on Monday reported that overall tax collection from April 1 to November 10 grew by 15.41 per cent to Rs. 12.1 lakh crore, including net corporate tax collections of Rs. 5.10 lakh crore and non-corporate taxes, such as Rs. 6.62 lakh crore paid by individuals, HUFs, and firms.
Kerala High Court: Assessing Authority Cannot Reassess Prior Years Without Inquiry While Determining Relevant Year’s Assessment [Income Tax]
The Kerala High Court in the case of Kings Infra Ventures Ltd. V. The Assistant Commissioner of Income tax observed and has stated that while determining the assessment of relevant years assessing authority cannot determine the assessment for earlier years without enquiry.
Webinar-1
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