A. Article
ECJ Interpretation of ‘cost price’ for valuation and payment of VAT
The Hon’ble European Court of Justice (C-207/23) recently ruled that the cost price includes not only direct manufacturing or production costs but also indirectly attributable costs, such as financial costs, etc. A somewhat similar provision (Rule 30) we have under the GST Law. Read more
B. Tax in Media
Shemaroo Entertainment Faces Allegations Of Rs.133.60 Crore GST Evasion Scam
The Department of Central Goods and Services Tax has accused – Shemaroo Entertainment Pvt Ltd and its office bearers- Joint Managing Director, Chief Executive Officer and Director and Chief Financial Officer of alleged evasion of Goods and Services Tax (GST) to the tune of Rs 133.60 crores through 20 bogus firms. Read more
Technology in account keeping has made the job of chartered accountants easier
Union Finance Minister Nirmala Sitharaman said that the introduction of technology in account keeping has made the job of chartered accountants easier and has streamlined the system, while addressing a gathering at The Institute of Chartered Accountants of India, Bangalore. Read more
Company gets show cause notice from GST authority over Rs. 27 crore tax claim
Patanjali Foods on Friday said it had recived a show cause notice from the Directorate General of GST Intelligence in Chandigarh over a Rs 27.5 crore tax claim. Read more
GTPL GST Case: Justices MR Shah and Justice Reddy offer lifeline to skill gaming industry
The online skill gaming industry in India has been propelled into the spotlight once again as the legal battle surrounding Goods and Services Tax (GST) applicability takes center stage. In a significant development, both Justice MR Shah and Justice R Subhash Reddy of the Supreme Court have delivered opinions in support of Gameskraft Technologies Private Limited (GTPL), shedding light on the complex GST landscape and its implications for the burgeoning sector. Read more
C. GST Lawgics
Lawgics – Judgment No. 119
On perusal of the above Rule 108, it is clear that the petitioner is required to submit decision or order appealed against within 7 days of filing of appeal and final acknowledgment indicating appeal number is to be issued in Form GST APL-02 by the appellate authority. In view of the amendment in said rule which would have a retrospective effect as the same is a clarificatory in nature and therefore, the impugned order passed by the appellate authority rejecting the appeal on the ground of delay would not survive. Read more
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