A. Amendment
Circular No. 18/2024- Customs dated 23.09.2024
The circular issued by CBIC is regarding Classification of laboratory chemicals.
Notification no. 104/2024 dated 20.09.2024- Income tax
To hereby make rules called as “Direct Tax Vivad Se Vishwas Rules, 2024.
B. Notes
GST Circular – Capsule 2
by CMA Anil Sharma
C. Article
SCN shall be uploaded under the category of “Notices”
by CA Bimal Jain
The Hon’ble Delhi High Court in M/s Neeraj Kumar held that SCN uploaded under the category of “Additional Notices and Order” instead of “Notices and Orders” before the GST portal was redesigned. The demand order was set aside, and the matter was remanded to the adjudicating authority for consideration afresh.
Issuance of Form ASMT-10 notice is mandatory during the scrutiny of returns
by CA Bimal Jain
The Hon’ble Madras High Court in M/s Mandarina Apartment Owners Welfare Association held that the show cause notice lacked reference to scrutiny under Section 61 of the Central Goods and Services Tax Act, 2017. Instead, it cited data from GSTR-01 and GSTR-3B returns, highlighting discrepancies.
It is mandatory to pas on the profit to the consumers
by CA Bimal Jain
The Competition Commission of India in the case of Rahul Sharma held that passing on the profit to the consumer is mandatory and as per Rule 133 (1) of the CGST Rules and directed the Cinema Ventures to deposit the profiteered amount of Rs. 54,44,642/- along with interest. The interest was calculated at 18% from the date the amount was collected in excess from customers until the amount was deposited.
Demand Order passed against deceased person is not valid
by CA Bimal Jain
The Hon’ble Madras High Court in the case of Unnikrishnan R., held that order passed against the dead person is invalid when the business of the deceased person is not being operated by the legal heirs of the deceased person. Also, it was held that, the Department is empowered to recover the tax amount under Section 93 of the CGST Act if the business is being carried out by the legal heirs of the deceased person.
D. Tax in Media
Escorts Kubota faces Rs.22.95 lakh penalty and interest for IGST delay, plans to appeal GST order
The Joint Commissioner of GST, Faridabad, Haryana, has passed an order against Escorts Kubota Limited under the Goods and Services Tax Act, confirming a penalty along with applicable interest due to delayed payment of IGST liability under the reverse charge mechanism, according to the exchange filing.
Tata Sons’ Rs 1,500 crore GST demand dismissed in Docomo settlement case
In a significant development, the adjudicating authority of the Goods and Services Tax (GST) department has dismissed a GST demand exceeding Rs 1,500 crore on Tata Sons, related to a settlement deal with the Japanese company Docomo, according to a report by the Economic Times.
GST Council discussing compensation cess, rate rationalisation: FM
The GST Council is seriously discussing rationalisation, going through GST rates “item by item”, the Union Finance Minister, Nirmala Sitharaman, said in an interaction with the journalists of The Hindu group of publications, on Saturday.
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