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This website contains information about recent changes mainly in GST laws. It also contains Articles on various topic in GST. Please visit the website and read.
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Please subscribe to Newsletter for Rs. 99/- for one year. This nominal fees is to mitigate the cost of emailer.
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Hi Reader,
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Please find tax updates in Newsletter 55 dated 15.11.2022 as below:
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Index
5. GST Notes by CMA Anil Sharma
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1. GST Article
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ITC on RCM invoice, ISD, rental service and other
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The Hon’ble Supreme Court in GVK Jaipur Expressway Pvt. Ltd. issued notice in the Special Leave Petition filed by the Assessee challenging the judgment of the Hon’ble Rajasthan High Court, which had dismissed its writ petition against a total GST demand of Rs. 14,06,54,640/-,
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Let us see some scenario where Input tax credit claim need critical thinking -
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Input tax Credit (ITC) should be correctly recorded in the books of accounts. Timely recording in books is of great advantage. It helps in working capital management.
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There are no free lunches in this world. India's businesses just found out the one they'd been eating for years had a bill attached all along.
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The Hon'ble Supreme Court in M/s Nageen Traders and Molding India Pvt. Ltd. v. State of U.P. & Ors. issued notice and stayed the operation of the judgment of the Hon'ble Allahabad High Court, Lucknow Bench, in M/s Nageen Traders and Molding India Pvt. Ltd. v. State of U.P. & Ors. , wherein the High Court had held that the …
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The Preventive Wing of the Central Goods and Services Tax (CGST) Commissionerate, Shimla, has uncovered an alleged GST fraud involving input tax credit of around ₹5.55 crore in the Kala Amb industrial area of Sirmaur district.
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GST officers have arrested a partner of a firm engaged in trading of iron and steel goods for fraudulently availing input tax credit of over Rs 15.78 crore.
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The Superintendent of Central GST, Mohit Pratap Singh, was caught while allegedly accepting a bribe of Rs 8 lakh through a mediator, the Lokayukta said.
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Punjab’s excise and taxation officials detained 170 vehicles carrying goods suspected to be in violation of GST provisions, officials said on Monday.
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The Telangana Commercial Taxes Department has issued detailed guidelines governing the use of Artificial Intelligence tools and other third party online platforms by its officers, making individual officers personally accountable for any unauthorised sharing of taxpayer information through such platforms.
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The tax department is increasingly using artificial intelligence (AI), data analytics and information from multiple government databases to identify anomalies, detect potential tax risks and sharpen scrutiny of taxpayers.
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3. GST Law
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The Central Goods and Service Tax, 2017 updated as on 01.10.2022 is reproduced below for your easy reference and reading. Your suggestion / feedback is welcome at taxupdate.otu@gmail.com THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 (OF 2017) AS AMENDED BY THE - THE CENTRAL GOODS AND SERVICES …
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4. Income Tax in Media
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The September 30, 2026 deadline for filing tax audit reports for assessment year (AY) 2026-27 is fast approaching, but the government has not announced any extension so far.
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The Union government has moved the Supreme Court against a Punjab and Haryana High Court ruling that declared Section 147A of the Income Tax Act unconstitutional, a decision that has raised questions over the validity of reassessment proceedings conducted by jurisdictional tax officers.
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Tax officer imposed a 200% penalty of Rs. 4.85 lakh, but ITAT cut it to Rs. 1.21 lakh.
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Two income-tax officials and two others were arrested Thursday for allegedly conducting a fake raid on a Chakala company and demanding Rs 1 crore, taking the total arrests in the case to 10. It was masterminded by a driver sacked by the company three months ago, said police.
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The tax department cannot tax rental income in the hands of individual landowners if the commercial building was constructed under a joint development agreement (JDA) and the earnings from it have already been disclosed and assessed in the hands of a genuine partnership firm, the Income Tax Appellate Tribunal (ITAT) Bangalore has recently ruled.
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5. GST Notes by CMA Anil Sharma
1) CGST Act in Slides form: Respected Shri CMA Anil Sharma, Shri CMA Gurdev Singh Saini and Respected Smt. CMA Bhawna Sharma presenting CGST Act / IGST Act in simple language in PPTs to make dealers, professionals, academicians, students etc. understand the basics of GST laws. Each Chapter in CGST Act, 2017 is explained in the form of Slides as given below for easy understanding of the Act:
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Hope the above updates is of use to you. Please share your input and feedback at taxupdate.otu@gmail.com
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