14 ViewsTaxpayers are eligible to receive refunds if the tax paid by them exceeds the liability. The Income Tax Department processes the returns and assesses the tax liability based on the returns filed by a taxpayer. Individuals can check their income tax refund status online. Step 1: Head to the income tax e-filing portal. Step […]
Tax refund scheme for exports may be extended beyond September
20 ViewsThe government is likely to extend the expanded duty remission scheme for exporters beyond the September deadline, providing relief to the pharmaceuticals, steel and chemicals sectors, said officials. The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme was expanded in December last year to include pharmaceuticals, chemicals and select steel products. Source: […]
Refund claims cannot be considered as dubious on the basis of erroneous findings
60 ViewsThe Hon’ble Delhi High Court in M/s. Mahajan Fabrics Pvt. Ltd. v. Commissioner, CGST and Ors. [W.P. (C) 6727/2022 dated February 6, 2023] has set aside the order passed by the Appellate Authority, disallowing the refund claimed by the assessee. Held that, the foundation of the Revenue’s appeal was flawed and based on erroneous […]
Assessee entitled to refund of unutilized Cenvat credit of Education and S&H Education Cess
58 ViewsThe CESTAT, Ahmedabad in USV Private Limited v. Commissioner of Central Excise & ST, Daman [Final Order No. A/10198/2023 dated February 6, 2023] has set aside the order of the Revenue Department denying refund of Cenvat credit to the assessee. Held that, the assessee is legally entitled for cash refund of accumulated and unutilized […]
Next big agenda is adding more tax payers: CBIC chairman
74 ViewsBeefing up the taxpayer roll is the next big task for the Central Board of Indirect Taxes and Customs (CBIC), said the chairman of the body that’s helped stabilize revenue collections and take measures to decriminalize violations essential ingredients of tax reform. “The next big thing is increasing the tax base. We need to […]
Refund cannot be denied for an inadvertent error which was subsequently rectified
83 ViewsThe Hon’ble Delhi High Court in the matter ofM/s. Shri Shyam Footwear v. the Commissioner of Central Goods and Services Tax and Anr. [W.P. (C). 5845 of 2022 dated January 31, 2023] has set aside the order of the Revenue Department rejecting the refund application of the assessee on the grounds that the rectified […]
Circulars issued during F.Y. 2022-23
All the circulars issued by the CBIC during the period from 01.04.2022 to 31.01.2023 have been summarized in this article under six major heads as:
1. compliance 2. refunds 3. demand and recovery 4. transitional credit 5. input tax credit 6. miscellaneous issues/ clarifications.
Taxman can not keep the GST paid by mistake
95 ViewsCase History Now the Aggrieved Assessee approached Andhra HC, which held a view that’ Taxman can not keep the GST paid by mistake. Now limitation is not a bar for claiming said amount as a refund. Similar view by Judiciary in Now, taxpayers having multiple registrations can face this issue, The judgment is added […]
Dealer cannot be compelled to carry forward the ITC to GST regime instead of refund
78 ViewsThe Hon’ble Madras High Court in Easwaran Brothers India Private Limited v. The Assistant Commissioner (ST) (FAC) [W.P. No. 33593, 33048 and 33593 of 2022 dated December 15, 2022] has held that dealers cannot be compelled to carry forward Input Tax Credit (“ITC”) from extant regime to the Goods and Services Tax (“GST”) regime […]
Directed to refund the payment deposited during search proceedings without issuing acknowledgement being not voluntary
121 ViewsThe Hon’ble Delhi High Court in M/s. Vallabh Textiles v. Senior Intelligence Officer And Ors [W.P.(C) 9834/2022 dated December 20, 2022] has held that the amount deposited during search proceedings without an acknowledgement of acceptance issued in Form GST DRC-04 as mandated under Rule 142 of the Central Goods and Services Rules, 2017 (“the […]