Latest update 23.05.2024

A. Amendment

B. Article

C. GST Notes

Lawgics – Judgment No. 130

A typographical error in the e way bill without any further material to substantiate the intention to evade tax should not and cannot lead to imposition of penalty. Typically when the error is a minor error of the nature found in this particular case, imposition of penalty under Section 129 of the Act is without jurisdiction and illegal in law. Read more

Lawgics – Judgment No. 131

The object of any Government is to promote the trade and not to curtail the same. The cancellation of registration certainly amounts to a capital punishment to the traders, like the petitioner. By applying the above ratio, the writ petition was allowed and impugned order was set aside Read more

D. Tax in Media

GST officers working on registration mechanism for ‘shared warehouse’ for e-commerce suppliers

GST authorities are working out a mechanism to deal with the taxation and registration issues related to shared warehouses maintained by e-commerce companies, where multiple suppliers store their goods for the last mile delivery, an official said. Read more

Clarification likely on GST on NBFC co-lending

The government has assured non-banking financial companies (NBFCS) that it will examine the concerns around levy of GST on their co-lending arrangements with banks. Read more

Three more gang members held in Rs.10K-cr GST fraud

The Noida police said on Saturday that they have arrested three more members of a gang allegedly involved in a Rs.10,000 crore Goods and Services Tax (GST) fraud that came to light in June last year, bringing the total number of people apprehended in the case to 44. Read more

Dark stores: E-commerce firms seek clarity on registration under GST regime

With the rapid sprouting up of dark stores as part of their quick commerce strategies, e-commerce companies are seeking clarity from tax authorities for the registration process under the goods and services tax (GST) regime for their suppliers. Read more

Not necessary to make arrest in all GST cases, says Supreme Court

The Supreme Court on Wednesday told the Centre that there is no need for making arrests in all GST cases and that it can be done only if there is credible evidence and tangible material to prove culpability. A bench of Justices Sanjiv Khanna, MM Sundresh and Bela M Trivedi, which reserved its verdict on a batch of pleas challenging the constitutional validity and interpretation of provisions relating to the Customs Act and Goods and Services Tax Act, said the power of arrest is different from necessity of arrest. Read more

GST Appellate Tribunals may be functional by year end, early 2025

The work on setting up the long-awaited Goods and Services Tax (GST) Appellate Tribunal seems to be picking up steam now and it is expected to be set up over the next few months. Read more

Fancy cars, OTPs, stolen IDs and fudged invoices: Tracking the trail behind Rs 5,300-crore GST fraud

Frequently changing phone numbers, using high-end luxury cars, including Maseratis and BMWs to zip through state borders during the day, and then checking into upmarket hotels with fake identities in the evenings — that was part of the modus operandi of the alleged kingpins behind an elaborate three-tier tax evasion plot who operated in the Delhi-Noida-Lucknow belt without being detected by authorities for well over six months. Read more

Real estate developers contest 18% GST on Joint Development Agreements

Real estate developers are contesting the 18% Goods and Services Tax (GST) levy on the transfer of development rights within joint development agreements (JDA) between developers and landowners. They believe the JDA does not involve any sale of land and hence the transfer of the rights is not taxable. Read more

GST on corporate guarantees: Taxmen believe clarity will emerge only in SC

GST on corporate guarantees between two related entities will emerge only after the supreme court gives its final word on the subject Read more

Ice cream companies pin hopes on post-election GST rate cut

Ice cream companies have doubled down on their efforts to reduce GST rate by approaching the President, who has duly forwarded their representation to the Finance Ministry. Subsequently, they have key Finance Ministry officials with a plea for lowering the tax. Read more

GST official loses lakhs to fake stock app

A group of tech-savvy fraudsters, a social media group, a fake stock trading app, agents who can source bank accounts of small-time businessmen and farmers and a small room with a computer – this is all it takes to swindle crores of rupees from stock traders across the country. This what an Avadi police team found after it busted a module and went to Anand district in Gujarat to nab a member of a gang which swindled lakhs of rupees from a GST official using a fake stock trading app. Read more

Gujarat GST Commissioner Grabs 620 Acres From Entire Village Near Maharashtra’s Mahabaleshwar

A GST commissioner from Gujarat, Chandrakant Valvi, currently serving in Ahmedabad, has purchased land spanning an entire village in Kandati Valley, Satara District in Maharashtra, estimated to be over 600 acres. Read more

Govt recovers Rs 852 crore under amnesty scheme for exporters

The government has recovered about Rs 852 crore under the amnesty scheme for exporters for one-time settlement of default in export obligation by the holders of advance and EPCG authorisations, an official said. The figures are likely to increase further as the exercise is on for the compilation of the data, the official added. Read more

Income Tax raid: Rs. 56 cr cash seized from 3 footwear manufacturers in Agra

The investigation wing officials of the Income Tax (I-T) department said that they had recovered Rs.56 crore in cash from the premises of three footwear manufacturers in Agra. Read more

HC denies anticipatory bail to fraud who evaded taxes worth Rs. 24 cr

The Bombay high court has refused anticipatory bail to Manish Sen, who allegedly deceived job seekers into opening multiple bank accounts that were used for high-value transactions, resulting in tax evasion worth Rs. 24 crore. Read more

Relief for telcos as SC waives interest on income tax dues

In a big relief to telecom companies, the Supreme Court has waived off the interest on income tax dues payable by these companies pursuant to its judgment from October 2023, holding that licence fee payable by telcos should be treated as capital expenditure for the purpose of Income Tax act. Read more

Income Tax Department officer duped of Rs.48.9K in online reward points fraud

A 48-year-old IRS officer with the Income Tax Department lost Rs. 48,902 to an online reward points fraud. Read more

I-T Hits Tea-Seller Khemraj Dave With Rs 49 Crore Penalty For Alleged Forgery And Conspiracy

Tea-seller Khemraj Dave from Patan is confronted with a staggering penalty of Rs 49 crore by the Income Tax Department for his alleged involvement in forgery, criminal conspiracy, and breach of trust alongside Alpesh Patel and Vipul Patel. Read more

High Court gives relief to Pepsico India over Rs 2,800 crore tax demand

The Delhi High Court has dismissed an appeal by the tax authorities against Pepsico India in a case related to taxation of its advertising, marketing and promotion (AMP) expenses. Read more

Mumbai: Enforcement Directorate makes another arrest in Rs.263 crore tax refund fraud case

The Enforcement Directorate (ED) has arrested another person, in connection with a Rs.263 crore income tax refund fraud and money laundering case. Read more

FM Nirmala Sitharaman asks ICAI to set up ‘Big 4’- like Indian firm

Finance Minister Nirmala Sitharaman on Tuesday exhorted the Bihar chapter of the Institute of Chartered Accountants of India (ICAI) to set up an Indian auditing firm that will grow to feature among the Big Four and seek global clients. Read more