A. Amendment
Refund of Kerala Flood Cess – instructions issued
Kerala State Circular No. :09/2024 dated 24.05.2024 regarding Kerala Flood Cess Refund. Read more
B. Article
Does stewardship functions entails ITC reversal‼️
Certain intra group services (IGS) are being claimed to be in the nature of stewardship functions meaning thereby that these are those activities that are performed towards safeguarding or administering the investment that is made by the holding entity. Read more
Paper Cups would fall under HSN 4823 40 00 and attract GST at the rate of 18 percent
The AAR, West Bengal in the case of In Re. Sekandar Sarkar ruled that, Paper Cups manufactured would fall under HSN 4823 40 00 and attract GST at the rate of 18 percent. Read more
Interest and penalty not leviable when there is no fault of Assessee in depositing GST
The Hon’ble Allahabad High Court in the case of Bhole Baba Milk Food Industries Limited allowed the writ petition and held that the levy of fee and interest would arise only in case where the failure is on part of the assessee to file return and/or payment of tax due within the prescribed period of time. Read more
C. GST Notes
Lawgics – Judgment No. 134
Upon query being put by the Court, it appears that the Officer concerned has not been able to provide the MOV-01 till date, in spite of several requests made to him. It is clear that it is the duty of the authorities to ascertain that whether the double movement of the goods has taken place actually. In the present case, no such burden of proof has been discharged by the Department Read more
D. Tax in Media
Chhattisgarh, GST E-Way Bill mandatory above Rs.50K
In a significant move aimed at bolstering the monitoring of tax evasion, Chhattisgarh govt has issued a new notification, effective immediately, mandating the generation of e-way bills for all intra-state goods movement over Rs.50,000. Read more
GST scam: Noida cops nab Haryana man, number of arrests reaches 45
The Noida Police on Saturday arrested a 45-year-old Haryana-based man in connection with its probe into the multi-crore alleged GST scam, taking the total number of arrests in the case to 45, officials said. Read more
Telecom firms have to pay GST with spectrum charges instalments: Report
Telecom companies will have to pay GST along with the instalments paid towards spectrum charges, a senior government official said. Read more
Tax raids on Surana Jewellers in Nashik, cash worth Rs 26 crore seized
The Income Tax Department has seized about Rs 26 crore of “unaccounted” cash following raids carried out at multiple locations of a jewellery company based in Maharashtra’s Nashik district. Read more
ITR: What are the penalties for late filing of returns?
As the FY draws to a close, it is time for taxpayers across the country to initiate their annual ritual of filing their ITR. As per reports, the total number of income tax returns filed during the AY 2022-23 reached 7.51 crores, which is a significant increase from 6.63 crores in AY 2021-22. And in the AY 2023-24, more than 8.18 crores returns were filed. Read more
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