Latest update 21.11.2024
A. Article
Penalty proceedings under Section 130 of the CGST Act cannot be initiated if excess stock was found
by CA Bimal Jain
The Hon’ble Allahabad High Court in the case of PP Polyplast (P.) Ltd. allowed the writ petition and held that no penalty proceedings under Section 130 of the CGST Act is maintainable on the ground of excess stock. It was further stated that the proceedings relating to Section 73/74 should be initiated if prima facie view arises that excess stock was found.
B. Tax in Media
FTCCI demands GST registration limit hike in Telangana
The Federation of Telangana Chambers of Commerce and Industry (FTCCI) has demands the Telangana government to increase the GST registration threshold from Rs.20 lakh to Rs.40 lakh, aligning with other states in India.
Officials raid Swastik Spices and Fore Agro for alleged IT and GST frauds Telangana
GST council to take call on tax cut on EV batteries, charging
The government is cognisant of the auto industry’s demand for reducing GST on electric vehicle batteries as well as charging as a service from 18% to 5%, but the final call will be taken by the GST Council, Tarun Kapoor, Advisor at the Prime Minister’s Office said on Tuesday.
Industry seeks Gujarat High Court relief, govt intervention over GST hike on denatured ethyl alcohol
In a bid to boost the manufacturing of products such as paints, cosmetics, sanitisers, and other pharmaceutical items, the industry has approached the Gujarat High Court, seeking intervention to correct rates and restore pre-GST levels on denatured ethyl alcohol. The industry is also requesting relief from enforcement recovery or action.
Guidelines for GST reimbursement to handloom weavers soon: Minister
The state govt will soon finalise guidelines for GST reimbursement to handloom weavers, said handloom and textiles minister S Savitha.
GST audit report in Maharashtra will be issued offline; know what steps to take to avoid future litigation
Usually, Goods and Services Tax (GST) department orders a GST audit when any discrepancy or suspicious activities like inconsistent GST return filing, significant mismatch between input tax credit claimed and output tax credit declared, etc. It follows it up with a report. Based on the findings of the audit it also issues a notice to the taxpayer.
Income Tax Department reduces time allowed to apply for old income tax refunds; check the new time limit
CBDT recently issued a circular on the application for condonation of delay in filing ITR. Income taxpayers often file this application requesting the tax department to condone delay in filing/revising ITR in order to claim income tax refund and carry forward of losses and set off. This condonation of delay application allows them to file an income tax return (ITR) to claim past tax refund and/or claim carry-forward of loss and set-off in cases where the due date for filing tax return is long past.
GST Litigation Course by CA Arup Dasgupta on 26, 27 & 28th November, 2024.
🥳 We are happy to conduct – GST Litigation Course basis your feedback as detailed below –
📚 Content of the course
- How to read the SCN
- Preparation for adjudication
- Analysis of Order in Original for filing the appeal.
- Key points to remember while Drafting the appeal
- Action points after receiving the Order in appeal
- Practical case study based discussions
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