A. Amendment
DGFT Notif. 45/2024-25 dt 30.12.2024
DGFT issued Notification No. 45/2024-25 dated 30.12.2024 regarding imposition of Minimum Export Price (MEP) on Export of Honey.
DGFT Notif. 46/2024-25 dt 30.12.2024
DGFT issued Notification No. 46/2024-25 dated 30.12.2024 regarding Imposition of Minimum Import Price (MIP) on import of Soda Ash covered under Chapter 28 of ITC (HS) 2022, Schedule -I (Import Policy).
DGFT Trade Notice 25/2024-25 dt 30.12.2024
DGFT issued Trade Notice 25/2024-25 dated 30.12.2024 regarding Procedure for filing application for obtaining import Authorisation for import of Low Ash Mettalurgical Coke subject to Country-wise Quantitative Restrictions (QR).
DGFT Trade Notice 26/2024-25 dt 30.12.2024
DGFT issued Trade Notice 26/2024-25 dated 30.12.2024 regarding Standard Operating Procedure (SOP) for Export Authorisations for Restricted Seeds and Planting Materials.
Circular No. 20/2024 dated 30.12.2024
CBDT issued Circular No. 20/2024 dated 30.12.2024 regarding Extension of due date for determining amount payable as per column (3) of Table specified in section 90 of Direct Tax Vivad Se Vishwas Scheme, 2024.
B. Article
Marketing support services by Indian Company to its Foreign Head Quarters qualify as ‘Export’
CA Bimal Jain
The CESTAT, New Delhi in the case of M/s Nokia India Pvt. Ltd. sets aside demand of service tax under ‘Business Auxiliary Services’ rendered by an Assessee to overseas counterpart on finding that benefit of ‘export of service’ is ‘wrongly’ denied.
C. GST Notes by CA Pradeep Modi
Detention of goods in transit without finding any intention to avoid tax is unjustified: HC
Refund application for excess GST paid by recipient on construction services not maintainable; HC dismissed writ petition
HC remanded matter as tax liability was imposed due to inadvertent error while filing GSTR-3B
HC condoned delay for filing Form ITC-01 and directed AO to permit assessee to file it
GST to be paid on entire increased rent received for period 01.09.2005 to 31.08.2022: AAR 01 Aug 2024
D. Tax in media
Advancing tax administration: Role of technology in India’s tax ecosystem
Over the last few years, the Government of India has been steadfastly focused on transforming tax administration by incorporating state-of-the-art technology. This initiative goes beyond mere amendments to tax laws, representing a comprehensive, reimagined framework for tax governance. As a tax professional, I have observed the substantial effects of these reforms on tax authorities and the taxpayer community. The integration of sophisticated technologies such as artificial intelligence (AI) is redefining how businesses view their compliance data and processes, while also reshaping the roles of tax and finance controllers in India.
Tax officials initiate inspection of M&M records in Chennai
Mahindra & Mahindra Ltd on Saturday said state tax authorities in Tamil Nadu initiated an inspection of records at one of the places of its business operations in Chennai. Authorisation for inspection/search proceedings under CGST Act 2017 was issued by Additional Commissioner (ST), Intelligence-I (FAC), Chennai-6 on the company, M&M said in a regulatory filing.
Trade and tax bodies push for revised return provisions in Union Budget 2025
Trade and tax professional organisations anticipate a revision of the late free structure and inclusion of provisions for revised returns in the goods and services tax (GST) in the upcoming Union Budget 2024, which will be presented by finance minister Nirmala Sitharaman in Feb.
EEPC India proposes ‘faceless’ GST audit system to boost ease of doing biz
The Engineering Export Promotion Council (EEPC), India on Sunday proposed the introduction of a faceless GST audit system to boost ease of doing business in the country.
2 arrested for Rs 100 crore GST fraud from Bihar, police probing Pakistan links
Two men have been arrested for allegedly committing a Goods and Services Tax (GST) fraud worth approximately Rs 100 crore by creating a shell company, police said on Saturday.
Simplification to be the focus for taxation in 2025
Simplification of direct and indirect tax policies will be the main focus area for the government in the New Year after beginning the review of the six-decade-old income tax law and rationalisation of the GST rate in 2024. With monthly gross GST Collections establishing at around at Rs. 1.8 lakh crore and gross direct tax collections steadily at 20 per cent rate, the effort to ease compliance burden for individuals as well as corporates will gain traction.
GST Refund Course
Your view and suggestion welcome!
We understand that every taxpayer, tax professionals and even taxman need to have better insight about GST Refund. It is because that not only the taxpayer doing export-import have the refund applicability but to every taxpayer who mistakenly pay excess tax and struggle to get his money back from the revenue.
But, before we conduct the course, we wish to have your view and suggestion on how you want us to conduct this course.
Tentatively the course would be conducted in January 2025.
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