Latest update 17.09.2024 – OnlineTaxUpdate

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A. Amendment

Income tax Instruction no. 2/2024 dt 09.09.2024

B. Notes

Lawgics – Judgment No. 173

The petitioner is not remediless and can seek refund in accordance with law when he was coerced to deposit an amount under protest.

C. Article

GST-ITC on demo cars-eligible- CBIC clarifies

by R.SRIVATSAN, IRS

Automobile dealers using demonstration vehicles or demo cars for promoting sales can claim input tax credit (ITC) under the GST law.

Whether the petitioner can file an appeal after the expiry of the statutory time limit allowed?

by CA Ritesh Arora

Yes, the Honorable High Court of Madras in the case of Global Hardware granted liberty to the Petitioner to file a statutory appeal before the Deputy Commissioner (GST-Appeal) within 30 days from the receipt of the court’s order.

A Welcome Step Towards Cutting Litigation

by Vikash Agarwal

Recently, the Hon’ble Supreme Court directed the disposal of around 199 appeals based on monetary limits prescribed by the Revenue as a step towards reducing litigation.

HC sets aside order passed on the same day of issuance of SCN citing lack of reasonable opportunity for filing reply

by CA Bimal Jain

The Hon’ble Madras High Court in the case of M/s. Pithamber Distributors allowed the writ petition, thereby setting aside the order passed citing lack of reasonable opportunity to file reply to SCN as the Department is required to pass the order after three months of issuance of SCN under Section 73(2) of the CGST Act with an intent to grant reasonable opportunity to file the reply. However, the order was passed on the same day of issuance of SCN.

Service provider is not liable for Service Tax on incentives received for the promotion or marketing of mutual funds

by CA Bimal Jain

The CESTAT, Ahmedabad in the case of NJ India Invest Pvt. Ltd. allowed the appeal filed by setting aside the Service tax demand, thereby holding that incentives from AMCs for mutual fund distribution were exempt under reverse charge, advertisements in the ‘FUNDS WATCH’ magazine fell under print media exemption and training for sub-distributors was classified as exempt vocational training these all three are exempt from tax.