A. Amendment
Assessment u/s 42A of the OVAT Act in lieu of tax audit and audit-assessment for selected dealers
Commissioner of CT & GST, Odisha (At Cuttack), Finance Department, Government of Odisha issued a Notification No. 6963/CT dated 20.05.2024 regarding mode of assessment for selected list of dealers for FY 01.04.2022 to 31.03.2023. Read more
All appeals prior to 2018 shall be listed by Registry on priority basis
Long pending cases have come to the notice of the Honorable President. It has since been directed that all appeals prior to the year 2018 shall be listed by the Registry on priority basis. Read more
B. Article
Whether section 5 of the Limitation Act is applicable for appeal filed under GST?
The Honorable Allahabad Hight Court in the case of M/s. Yadav Steels dismissed the writ petition thereby holding that Section 5 of the Limitation Act, 1963 would not be applicable for appeal filed under Section 107 of the Uttar Pradesh Goods and Services Tax Act, 2017. Read more
C. GST Notes
Lawgics – Judgment No. 132
It has been held by this Court in Poddar Trading Company vs. Commissioner, Commercial Tax, U.P. that search and seizure of the godown cannot result in penalty proceedings under Section 129 of the Act. In light of the above, present proceedings are not justified, and accordingly, the impugned orders dated June 18, 2018 and June 14, 2019 were quashed and set aside. The Court directed the Department to refund the amount of tax and penalty deposited by the petitioner. The writ petition was allowed in aforesaid terms. Read more
D. Tax in Media
Raids unearth scrap traders used fake bills worth Rs 1,000 cr
Operation Palm Tree, carried out simultaneously in seven districts using over 200 tax officials, has reportedly unearthed fake invoices worth nearly Rs. 1,000 crore in the illegal scrap market. A top tax official said that input tax credit (ITC) of nearly Rs. 200 crore could have been illegally pocketed by unscrupulous traders using such fake invoices. Read more
Major rejig of Customs duty, GST being planned
The government has identified a clutch of products where inverted duty structure is distorting trade and impacting manufacturing competitiveness and has initiated the process to address the issue, a senior official said. Read more
India actively pursuing customs mutual recognition agreements with nations: CBIC chief
India has signed mutual recognition agreements (MRAs) with customs authorities of seven nations and is actively pursuing negotiations for such pacts with other countries, a top official said. Read more
Green energy research report calls for GST cut on hydropower, wind projects
A study by the Institute of Energy Economics and Financial Analysis (IEEFA) and JMK Research has listed out a series of recommendations for the country to reach its target of 500 gigawatts (GW) of renewable energy capacity by 2030. A slash in Goods and Services Tax (GST) on hydropower and wind projects features among the top suggestions to ease the strain on developers’ balance sheets and increase affordability. Read more
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