A. Articles
Most Awaited Judgement: Can Parties Seek Rehearing Before a Different Bench?
If a judgment is not delivered within six months, parties may seek a rehearing by a different bench. Read more
B. GST Notes/ Lawgics
Lawgics – Judgment No. 110
The case of the petitioner is that he was forced to deposit Rs.2,50,00,000/- on 13.10.2022 that too at 3.30 a.m. It is petitioner’s contention that the said amount was recovered by the authorities from the petitioner by coercion, hence, the petitioner is entitled to refund of the said amount, on the ground that this would amount to collection of the petitioner’s amounts without any authority in law. Read more
C. GST Portal
Extension of Due date of GSTR-1 for the period March 24
The Government has extended the due date of filing for March 2024 period to 12.04.24 for monthly taxpayers vide notification no. 09/24 – central tax dated 12.04.2024. Read more
D. GST in Media
CBIC Chairman Sanjay Agarwal calls for resolving legacy adjudication cases
In a communication, Agarwal drew attention to pending legacy adjudication cases. “Now, it is an opportune moment to clean the slate and resolve these long standing issues in an expeditious manner,” he said. The cases are related mainly to service tax and central excise duty while customs duty has a share too. Read more
SGST dept raids traders in Katni, Shajapur & Bhopal
State Goods and Services Tax (SGST) department carried out raids in Bhopal, Katni and Shajapur on Friday following suspicion over unaccounted goods in storage for purpose of distribution ahead of elections. Read more
E. Income tax in media
Income tax refund will be available soon and the seized properties will also be returned
The Central Board of Direct Taxes (CBDT) has asked the Income Tax Department to prepare an action plan by which possible tax-related issues are identified and resolved immediately. In this scheme, there will be a fixed time limit for returning the seized property. Read more
Real estate deals, credit card transactions: 6 times one can get Income Tax notice
The I-T Department uses data from different sources to verify tax compliance, with certain transactions triggering additional scrutiny. For example, the tax department keeps a close on eye on all high-value cash transactions. Like if someone with a savings account gets a deposit over Rs 10 lakh in cash during a fiscal year, this might call for a notice from the department asking for an explanation about the source of these funds. Read more
Tax Authority to Contact 15.2 Million Individuals for Income Tax Returns Filing
The income-tax department is set to initiate a drive against individuals and entities who are required to file tax returns but have not done so, said officials. The department has identified 15.2 million such individuals who have income or have had tax deducted at source (TDS) but have not filed tax returns, they said. Read more
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