Latest update 27.09.2024
A. Update
Advisory on issuance of Notices/Orders without digital signatures of the issuing authorities
Doubts have been created regarding the validity of documents issued by the tax officers on the common portal viz. SCN/Orders without the Digital signatures on the pdf. document downloaded from the common portal. In this context, it is to be mentioned that such documents are generated on the common portal from the login of the officer, who logs in through Digital Signatures.
B. Article
Transporters are only required to carry duplicate copy of tax invoice during the transportation of goods
by CA Bimal Jain
The Hon’ble Karnataka High Court in the case of Kolvekar Logistics quashed the orders and held that that as per Rule 48(1)(b) of the CGST, it is only the duplicate copy which is meant for transporter and the triplicate copy is meant for supplier as per clause (c). Therefore, held that the transporter is not required to carry the original tax invoice, but the law mandates him to carry the duplicate copy.
Vouchers are Taxable as a Supply of Goods at the rate of 18%
by CA Bimal Jain
The Authority for Advance Ruling, Uttar Pradesh, in case of M/s Payline Technology Private Limited, ruled that Supply of Vouchers by the Applicant is taxable as supply of goods and the time of supply shall be decided as per Section 12 (2) of the CGST Act and the UPGST Act and will be taxed at 18% as per residual entry no. 453 of Notification No. 01/2017-Central Tax (Rate) dated June 28, 2017.
Opportunity of personal hearing should be granted to an Assessee before cancelling the GST registration
by CA Bimal Jain
The Hon’ble Delhi High Court in the case of M/s Abhishek Appliance (P.) Ltd. ruled that an Assessee should be given an opportunity to respond the allegations and submit the evidence regarding place of business. Hence, the matter remanded for reconsideration after affording personal hearing was provided to the Assessee and writ petition was disposed of.
Confiscation Proceedings under Section 130 cannot be initiated for allegations regarding excess stock
by CA Bimal Jain
The Hon’ble Allahabad High Court in the case of Shree Om Steels, allowed the writ petition and held that confiscation proceedings under Section 130 of the CGST Act cannot be initiated for excess stock solely based on survey, as the tax demand must be quantified under Section 73 or 74 of the CGST Act.
C. Tax in Media
Consensus eludes GoM on GST rate rationalisation, over 100 items discussed
The Group of Ministers (GoM) on goods and services tax (GST) rate rationalisation, which convened in Goa on Wednesday, reviewed the GST rates for over 100 items, including textiles, handloom goods, agricultural products, fertilisers, and educational materials. However, no consensus was reached on any of the items, with further discussions scheduled for next month in Delhi.
GoM on GST on health, life insurance premium to meet on Oct 19
The ministerial panel to decide on lowering GST on health and life insurance premiums will have its first meeting on October 19, officials said. Currently, 18 percent GST is levied on insurance premiums and there have been demands to either exempt or reduce the tax. The GST Council in its meeting earlier this month decided to set up a 13 member GoM to decide on tax on health and life insurance premiums.
Cabinet nod to draft state GST ordinance
The state cabinet on approved the draft Maharashtra Goods and Services Tax (Amendment) Ordinance, 2024. To maintain consistency between the provisions of the Central Goods and Services Tax Act, 2017, and the Maharashtra Goods and Services Tax Act, 2017, it is necessary to amend the Maharashtra Goods and Services Tax Act, 2017, said officials.
Design architecture for B2C e-invoicing for retailers ready: GSTN CEO
The design architecture for implementing GST e-invoicing for retailers is mostly ready and being vetted by industry experts, GST Network CEO Manish Kumar Sinha said on Tuesday.
No further exemption in GST for long term land lease: GoM
The fourth meeting of the Group of Ministers on boosting the real estate sector held in Goa has decided no further exemption in GST should be granted on long term lease of land by private entity and sector specific exemption such as for tourism purposes.
GST circular tweak to help Infosys, other Infosys
The government is considering amendments in the GST circular 210, which clarifies on valuation of supply of services import by a related party where recipient is eligible to full input tax credit, to make it simpler for its correct interpretation by tax officers, according to a senior finance ministry official.
I-T dept accuses Hinduja Global Solutions of Rs 2,500 crore tax evasion
The Income Tax Department has accused Hinduja Global Solutions (HGS) of evading taxes amounting to around Rs 2,500 crore, according to a report by The Economic Times.
New scheme to settle pending tax disputes from Oct 1: All you should know
The Central Board of Direct Taxes (CBDT) has recently released notification, saying the Direct Tax Vivad Se Vishwas Scheme 2024 will come into effect from October 1, 2024. This scheme seeks to minimise income tax litigation by offering taxpayers the opportunity to settle ongoing income tax appeals, writs, and petitions pending before various appellate authorities, including the Supreme Court and high courts, as of July 22, 2024.
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