Latest update 15.06.2024
A. Amendment
Notification No. 43/2024-Customs (N.T.) dated 14.06.2024
CBIC issued Notification No. 43/2024 – Customs (N.T.) dated 14.06.2024 toward fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. Read more
SEZ Circular No. 01/2024-25 dated 13.06.2024
Office of the Development Commissioner, DAHEJ Special Economic Zone, Ahmedabad issued Circular No. 01/2024-25 dated 13.06.2024 to launch Indian Customs EDI System – (ICES/ ICEGATE) for imports and exports at Dahej Special Economic Zone, Dahej) INBHD6). Read more
B. Budget 2024-25
Seeking Suggestions for Union Budget 2024-25
Department of Revenue, Tax Research Unit requested Trade and Industry Associations vide letter reference dated 12.06.2024 to provide their suggestions and views for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same for upcoming Union Budget 2024-25. Read more
C. GST Portal/ Notes
GST Portal downtime 15.06.24
We shall be enhancing services on the GST portal on 15th June’24 12:00 AM onwards Read more
GST case Law compendium June 2024
GST Case Law Compendium-June 24 Edition is presented by the author. Read more
D. Article
Appeal can be accepted after one month from the prescribed period of limitation
The Hon’ble Calcutta High Court in the case of Sushil Kumar Hazra condoned the delay in filing the appeal as the Assessee was prevented by medical reasons for filing an appeal on time and held that an appeal can be accepted after one month from the prescribed period of limitation. Read more
No Service Tax on revenue sharing agreement between exhibitor & distributor for exhibiting film
The Hon’ble Supreme Court in Commissioner of Central Excise and Service Tax Ludhiana has disposed the appeal filed by Revenue challenging earlier order passed in favour of the Respondent by the CESTAT, which had set aside the demand for service tax w.r.t revenue sharing agreement between Exhibitor and Distributor pertaining to showcasing of films/ movies. Read more
Imported Goods stored in 3P FTWZ being sold and moved to Bonded Warehouse on ‘as is where is’ basis under MOOWR scheme are not liable to GST
The Tamil Nadu AAR, in the matter of M/s. Sunwoda Electronic India Private Limited has held that sale of goods from third-party free trade warehousing zone (“3P FTWZ”) on ‘as is where is’ basis to bonded warehouse under Manufacturing and Other Operations in Warehouse Regulations (“MOOWR”) are not liable to GST as the same is covered under Clause 8(a) of Schedule III of the CGST Act, which reads as “Supply of warehoused goods to any person before clearance for home consumption”. Read more
E. Tax in Media
35-Year-Old Colaba Contractor Duped Of Rs.1.3 Crore
A 35-year-old contractor, resident of Colaba, working with the BMC, was duped by an alleged Chartered Accountant to the tune of Rs.1.3 crores. The alleged accused was helping the victim to set up accounts for GST for business purposes, however, instead he made fake bank accounts in the name of the victim to siphon money. Read more
5% GST applies on mix mukhwas, rules AAR
AAR in the case of Bhagat Dhanadal Corporation has ruled that 5% GST is payable on seed mixes manufactured and sold by it. The products manufactured by it are ‘Mix Mukhwas’ and ‘Roasted Til with Ajwain’. Read more
Ahead of GST Council meet, fitment committee may convene to assess proposals on ATF, natural gas
The GST fitment committee to likely to convene ahead of the GST Council meet scheduled for June 22, with the agenda to study Oil Ministry’s proposal to bring ATF and Natural Gas under the ambit of GST, sources told CNBC-TV18. Read more
Bring petroleum products, realty, and electricity under GST: CII President
CII president Sanjiv Puri on Thursday said petroleum products, electricity, and real estate must be brought under the ambit of the goods and services tax (GST). Read more
Reforms in customs duties, GST, commerce to push India’s growth: GTRI
Implementation of key strategic reforms such as simplification of customs duty structure, GST, and not incentivising low value-added electric vehicles would help India ensure its sustainable development and inclusive growth, GTRI said on Thursday. Read more
GST Council to meet on Jun 22, may take up review of online gaming taxation
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet after a gap of eight months on June 22, and is likely to review the implementation of 28% GST on the online gaming sector. The 53rd meeting of the GST Council will be held on 22.06.2024 at New Delhi,” the GST Council Secretariat said n a post on X.
GST Council may review online gaming tax, bring gas & ATF under the net
GST Council will meet here on June 22, with a packed agenda, including proposals to bring natural gas and aviation turbine fuel (ATF) under the ambit of the GST, and a review of the way the tax on consumption is applied on online gaming, casinos and horse racing. Read more
ITR 3 – Validation Rules for AY 2024-25
CBDT issued ITR 3 – Validation Rules for AY 2024-25 Version 1.0 on 10.06.2024 Read more
EPFO officer arrested for taking bribe of Rs 1 lakh
NC Nathwani, enforcement officer of the EPFO, was arrested in Jamnagar along with a consultant, officials said on Thursday. He was arrested for allegedly accepting a bribe of Rs 1.10 lakh for settling pending PF-related issues. Read more
Subscribe Newsletter
Webinar Videos Watch here
Join WhatsApp Channel
Follow us at Twitter
Support us contribute
Share this content:
Post Comment