A. Article
Rule 86A Conundrum: Interpretation Battles in High Courts
by Pradyuman Joshi
The recent judgment of the Madras High Court in the case of Tvl. Skanthaguru Innovations Private Limited has sparked a new debate as to whether the revenue department can make the balance of ECL negative by exercising the power of Rule 86A of the CGST Rules.
by CA Bimal Jain
The Hon’ble Calcutta High Court in the case Pranabesh Sarkar set aside the order of GST registration cancellation on the ground that the Assessee has defaulted in filing of GST returns, on the ground that the Assessee would file the GST returns for the default period along with payment of tax, interest, fine and penalty.
Bonafide intent must be proved when property is purchased from GST defaulters
by CA Bimal Jain
The Hon’ble Madras High Court in the case S. Geetha held that a Bonafide purchaser of property bought without knowledge of tax arrears can challenge an order under section 81. However, the bonafide nature must be proved.
GST Daily by CA Pradeep Modi
Discount received from supplier can’t be construed as service provided to supplier: HC
HC quashes GST demand notices issued in name of company which was amalgamated with another company
HC condoned delay in filing appeal as accountant handling GST compliances was hospitalized
No penalty on transporter for not carrying original tax invoice; HC quashes order passed by tax official
HC set-aside demand of late fee as assessee filed GSTR-9C before 1-4-2023 but benefit of amnesty scheme was given thereafter
B. Notes
ICAI Guide to CA Certificates in GST
ICAI, New Delhi has published third edition of ‘Guide to CA Certificates in GST’ in December 2024
C. Tax in Media
CITI warns of job losses, economic impact from proposed GST hike on garments
The Confederation of Indian Textile Industry (CITI) has raised concerns over the proposed GST rate revisions on ready-made garments, warning of potential far-reaching impacts on the textile industry, employment, and the overall economy.
Issues left unaddressed, council needs to provide resolutions
In its 55th meeting, the GST council deferred taking a decision on several pressing issues. These included the demand for lowering the tax on health and life insurance and on the food delivery charges of platform aggregators.
Mistakes which you should not do in your GST work
This Article discusses some of the common mistakes in our business, which we are occurring knowingly or unknowingly. These small mistakes which are being done by us may lead to late- fees, penalty and any other action by Government department. These mistakes are very simple mistakes which you can avoid at the time of your registration and filing of return by keeping a little precaution.
Confused as how GST hike on used car will work?
The GST council has recommended an increased 18% GST rate on the margin value of used car sales for specified petrol vehicles with 1200 cc or more, diesel vehicles with 1500 cc or more, and all EVs.
Income tax rate cut in Budget: Top economists urge Modi to lessen burden for Indians
Economists have urged the government to reduce income tax rates, rationalise customs tariffs, and introduce measures to support exports in Budget 2025, reported ET Bureau on Wednesday.
Ministry of Finance Year Ender 2024: Department of Revenue
In the year 2024, the Central Board of Direct Taxes (CBDT) and Central Board of Indirect taxes and Customs (CBIC), under the Department of Revenue, Ministry of Finance, have continued their citizen centric initiatives, driving significant reforms to enhance taxpayer experience.
Alkem Laboratories Gets Income Tax Orders Worth Rs 375 Crores
Alkem Laboratories Ltd. on Wednesday said it has received income tax orders worth Rs 375 crores for the assessment years 2020-21 and 2022-23. The order was received by the company on Tuesday.
EPFO adds 13.41 lakh net members in Oct
Retirement fund body EPFO has registered 13.41 lakh net new members addition in October 2024, according to showed latest payroll data. This signifies increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives, a labour ministry statement said on Wednesday.
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