Latest update 28.07.2025 – OnlineTaxUpdate

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Shifting of small “-“ in Section 74/74A negates the principle laid down of Apex Court while interpreting a similar phrase in pre-GST Regime for Section 11A of Central Excise Act, 1944 but that “-“ does not finds itself in Section 122-Drafting Error or a master stroke

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Hyundai India Gets Rs 517.34 Cr Tax With Penalty Demand From GST Authority, Here’s Why

Hyundai Motor India Ltd on Tuesday said it has received a demand of Rs 517.34 crore from tax authorities, along with penalty, for alleged short payment of GST compensation cess on its certain SUV models.

Big relief coming for taxpayers: THESE low-value income tax cases to be dropped soon

The central government is continuously working to simplify and streamline the tax system, aiming to reduce disputes. In this direction, Union Finance Minister Nirmala Sitharaman has reportedly given strict instructions to the Central Board of Direct Taxes (CBDT) to identify all departmental tax appeals involving amounts less than the “revised monetary limit announced by the Central Government in Budget 2024-25” and withdraw them within three months.

FinMin turns down demands for time limit on tax pleas’ disposal

Despite more than 5,00,000 appeals pending at the Commissioner of Income Tax (Appeals), or CIT (A), level, the Finance Ministry (FinMin) has not favoured mandating statutory deadlines for disposal of such Income tax (I-T) appeals.