Latest update 14.08.2024
A. Amendment
| Sr. no. | Category | Subject | In brief | In detail / Reference |
| 1 | GST | Circular No. 12/2024 – Kerala SGST on 13.08.2024 | Manner of penalty calculation under IGST Act, 2017 for SCN issued u/s 73(1)/74(1) of KGST Act, 2017 r.w. Section 20 of IGST Act, 2017 – Kerala GST | Read more |
B. GST Lawgics
| Sr. no | Category | In brief | Authored by | In detail / Reference |
| 1 | GST Lawgics | Section 83 prohibits an assessee in default from transferring assets to defeat government revenue interests. Thus, the asseesee must prove bona-fide purchase beyond mere reliance on an encumbrance certificate | Adv. Nidhi Aggarwal | Read more |
C. Tax in Media
| Sr. no. | Category | In brief | In detail / Reference |
| 1 | GST | To check fraud, Centre & Bengal roll out GST Suvidha Kendras Bengal has become the first state in which Centre and State have come together to roll out biometric based Aadhaar authentication centres for GST registration. The formal rollout was started on Aug 5. | Read more |
| 2 | Income tax | Taxpayers getting faster refunds this year? FM says ITR processing time reduced to 10 days from 93 days The average time taken to process income tax returns (ITR) has decreased from 93 days in FY 2013-14 to 10 days in FY 2023-24. | Read more |
| 3 | Income tax | CBI arrests ED official for extorting ₹20 lakh from jeweller The Central Bureau of Investigation (CBI), arrested an assistant director of the Enforcement Directorate (ED) while he was allegedly extorting ₹20 lakh from a Mumbai-based jeweller, people familiar with the development said. | Read more |
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