Adv Aditya Narayan 
Acknowledging the breach of natural justice, the Karnataka High Court set aside the impugned ex-parte order. The court directed the respondent to reconduct the appeal hearing. In a significant ruling, the Karnataka High Court has set aside an ex-parte order …
The ITAT ruled that, as long as interest-free funds are sufficiently available at the time of advance, disallowance of interest on subsequent loans will not stand. In this article, we delve into a notable tax judgement of ITAT involving a …
GSTN Advisory on Waiver of Interest & Penalty in Demand Notices or Orders for the Financial Year 2017-18 to 2019-20. To reduce tax disputes and provide significant relief to taxpayers, the GST Council, in its 53rd meeting on June 22, …
In its ruling, the court set aside the impugned suspension order, directing the GST department to review the petitioner’s reply and issue a decision in accordance with the law. The court stressed that any further actions must align with legal …
The petitioner argued before court, that the issuance of this second order on the identical SCN was effectively a “double jeopardy,” constituting a misuse of power by the department. In a significant ruling, in case of Jain Cement Udyog vs. …
Only payments made through Form DRC-03 under the “Voluntary” or “Others” categories are eligible for adjustment using Form DRC-03A. The GST Portal has introduced Form DRC-03A to help taxpayers adjust demand amounts that were mistakenly paid through DRC-03 instead of …
Under Section 220(2A), certain income tax authorities have the power for reduction or waiver of interest, upon satisfaction of certain condition. Reduction or Waiver of Interest: The Central Board of Direct Taxes (CBDT) has recently issued Circular No. 15/2024 on …
Top Common Mistakes to Avoid While Claiming Input Tax Credit (ITC) Input Tax Credit (ITC) is key in India’s Goods and Services Tax (GST) system. Claiming ITC correctly helps businesses get the most tax benefits and stay in line with …
The issue had been clarified in CBIC Circular No. 179/11/2022-GST, dated August 3, 2022. This circular clarified that the 90% fly ash content requirement applies only to aggregates, not to Fly Ash Bricks or Blocks. On September 25, the Gujarat …
Circular 14/2024 addressing the condonation of delays in filing income tax returns by cooperative societies claiming deductions under Section 80P of the Income Tax Act for the Financial Year 2022-23. The Central Board of Direct Taxes (CBDT) has issued Circular …
CBDT Specified Forms Prescribed in Appendix II of IT Rules 1962, to be Furnished Electronically under Sub-rule (1) & (2) of Income Tax Rules 1962. The Central Board of Direct Taxes (CBDT) has issued Notification No. 5/2024, which mandates the …
Delhi High Court Ruling in case of Metal One Corporation India Pvt. Ltd. & Sony India Private Limited vs. UOI, W.P.(C) 14945/2023, decided on 22-10-2024] The Delhi High Court has recently scrutinized the legitimacy of Goods and Services Tax (GST) …
This update specifically affects filings of GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, and GSTR-9. In accordance with the Finance Act, 2023, dated March 31, 2023, new restrictions on GST return filing have been implemented from October 1, 2023, …
The court emphasized that Section 119(2)(b) is a beneficial provision, intended to allow for exceptions and refunds in cases of genuine hardship. Decisions made under this provision must include proper justification, aligning with both procedural fairness and the legislative intent …
Previously, airlines had the flexibility to submit this information either 24 hours before departure or at wheels-off time. The Central Board of Indirect Taxes and Customs (CBIC) has recently updated regulations for passenger data submission by airlines, enforcing stricter compliance …
A government panel on Goods and Services Tax (GST) for the real estate sector is preparing an interim report that may significantly influence affordable housing across India. The Group of Ministers (GoM) is recommending an increase in the affordable housing …
The high court instructed the Appellate Authority to review the appeal on its merits, considering the pre-deposit made from the Electronic Credit Ledger as adequate. Pre-Deposit for GST Appeals using ECL: The Patna High Court recently issued a significant ruling …
For those with high home loan interest payments on self-occupied properties, the old tax regime may still be beneficial due to the deductions it offers. However, if your focus is on simplicity and lower tax rates with fewer deductions, the …
The decision of the Supreme Court in this case is likely to have a significant impact on how tax authorities enforce the CGST Act and whether cash can be legally seized in future investigations. In light of differing opinions from …
These changes are designed to ensure Registration compliance with the latest GST requirements under Notification No. 25/2024 – Central Tax, which was issued on October 9, 2024. In a recent update, GSTN has introduced a new feature on the GST …