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Please find tax updates as below:
OnlineTaxUpdate

GST Media

1) 27.11.2021 : Suumaya Corporation drags GST authorities to court over their power to arrest – BSE-listed Suumaya Corp has dragged the Goods and Services Tax (GST) authorities to the Bombay High Court, arguing revenue officials don’t have the power to arrest corporate executives. The company has challenged the constitutional validity of the tax department’s right to make arrests in cases where GST is exempt, as in the case of the agro products company. Read more

2) 27.11.2021 : CGST unit in Surat nabs scrap trader in crackdown – Central GST’s Surat unit busted a tax evasion racket of a scrap trader who purchased scrap from local traders without mandatory billing or even paying GST. Later, the trader was found to be putting up fake bills to claim GST refund. Read more

Income Tax in Media

1) 15.11.2021 : Income Tax Department conducts searches in Gurugram – The Income Tax Department carried out search and seizure operations on 10.11.2021 on two groups, one engaged in real estate and hospitality and the other, a tools and equipment manufacturing group at Gurugram. Total cash amounting to Rs. 3.54 crore and Jewellery valued at Rs. 5.15 crore have been seized. In total, 18 bank lockers have been placed under restraint. The search action, in these groups, has led to the detection of estimated unaccounted income to the tune of Rs. 600 crore. Read more

Press Release


1) 27.11.2021 : Income Tax Department conducts search operations on two major real estate developers of Ludhiana – The Income Tax Department initiated search and seizure operations on two major real estate developers of Ludhiana on 16.11.2021. The search action covered around 40 premises in Ludhiana. In one of the groups, defaults on compliances for the provisions of tax deduction at source have been detected with regard to payments made to the sellers of the land, etc. The search action has resulted in seizure of unaccounted cash of about Rs. 2.00 crore besides foreign exchange, and unexplained jewellery of about Rs. 2.30 crore. Further investigations are under progress. Read more

GST Article

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Previous article –

1) DETAILED ANALYSIS ON DEMAND, RECOVERY, SCN PROCEDURES UNDER GST by By, M.S.VIJAYAKUMAR, ASSISTANT COMMISSIONER GST (RETD.) Introduction Goods and Services Tax (GST) is a system where one person determines the tax and pay the tax by self-assessment. When the tax is paid by doing self-assessment, there is likely to be a chance... Read more

2) Provisions Relating to Summons in GST Laws by Abhishek Raja Ram, CA in Practice, Abhishek Raja and Associates. Section 70 of Central Goods and Services Act 2017 – Power to summon persons to give evidence and produce documents. (1) The proper officer under this Act shall have... Read more
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