Adv Aditya Narayan 
In a landmark decision, the Delhi High Court in Hari Kishan Sharma v. Govt Of NCT Of Delhi & Anr., [2024:DHC:6902-DB], ruled in favor of the taxpayer (assessee), emphasizing that discrepancies in Form 26AS should not be the sole reason …
The decision to form the GoM was partly influenced by demands from opposition-ruled states, such as West Bengal, which advocated for a complete exemption of GST on life and health insurance premiums. Several other states suggested lowering the GST rate …
Clarification in respect of advertising services provided to foreign clients The Central Board has issued a clarification in light of queries from trade and industry regarding advertising services provided by Indian companies to foreign clients. These clarifications aim to address …
Section 75(2) of the Act specifies that if any Appellate Authority, Appellate Tribunal, or Court determines that a notice issued under section 74(1) is unsustainable due to the failure to establish fraud, wilful misstatement, or suppression of facts to evade …
Recommendations of 54th GST Council Meeting The 54th GST Council meeting, chaired by the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, was held in New Delhi on 9th September 2024. The meeting included Union Minister of State …
These 4 options of GST Relief on Health Insurance stem from a detailed analysis by the Council’s fitment panel, comprising both central and state revenue officials. The Goods and Services Tax (GST) Council is expected to address four crucial options …
Reporting of Inter-State Taxable Supplies to Unregistered Dealers (B2C): The Indian government has introduced a notable amendment on reporting supplies to unregistered dealers under Notification No. 12/2024 – Central Tax, dated 10th July 2024. As per the notification, the threshold …
This Invoice Management system (IMS) will be available on the GST portal starting October 1st. This will allow recipient taxpayers to review and either accept, reject, or keep invoices pending for later action. The GST Network (GSTN) is set to …
The Court gave 10 days to the petitioner to file a reply, and the proper officer was instructed to pass a new GST order under Section 73(9) within 4 weeks of the personal hearing. In a significant ruling, in case …
The current review of the Income-Tax Act holds the potential to revolutionize India’s tax system by reducing complexities, improving clarity, and making it easier for taxpayers to comply. The Indian government is currently undertaking a significant review of the Income-Tax …
With critical sectors like insurance, petroleum, and online gaming under scrutiny, this GST council meeting could set the course for the future of India’s indirect tax system. The 54th GST Council Meeting is set to take place on September 9, …
Taxpayers eligible for e-DRS can file their application electronically by using Form No. 34BC on the Income Tax Department’s e-filing portal. The Central Board of Direct Taxes (CBDT) has introduced the e-Dispute Resolution Scheme (e-DRS) 2022 under Section 245MA of …
The ITAT also rejected the AO’s argument that the capital gains exemption should only cover the amount directly used for constructing the new house. The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that a taxpayer can …
By adhering to these Income Tax Compliance deadlines for September 2024, taxpayers can ensure they remain compliant with the law and avoid last-minute financial stress. Income Tax Calendar for September 2024: Adhering to tax compliance in the month of September …
The Consignment arrived in Bhubaneswar on Monday by air and was being transported in two vans operated by a Mumbai-based logistics company specializing in jewellery transportation. A large consignment of gold and silver ornaments, seized by state commercial taxes and …
The court emphasizing that taxpayers must present comprehensive evidence, including details of the selling dealer, freight payments, and vehicle information, to prove the physical movement of goods and the genuineness of the transaction. In a landmark ruling in case of …
The committee has been given a six-month timeframe to complete the review, a timeline assured by CBDT Chairman Ravi Agrawal to Union Finance Minister. The Central Board of Direct Taxes (CBDT) has established an internal committee to review and simplify …
If no personal gain is proven, such penalties could face constitutional challenges in appellate forums or high courts. Personal Penalties on Executives: The Directorate General of Goods and Services Tax Intelligence (DGGI) has recently issued thousands of notices to various …
The Madras High Court ruled that the department’s refusal to condone the one-day delay and the subsequent issuance of the SCN under Section 73(1) was unfair. In a crucial judgment, the Madras High Court has excused a one-day delay in …
The Tribunal rejected the Commissioner of Income Tax (Appeals) [CIT(A)]’s assertion that the document was manipulated, labelling it as a baseless allegation. No Bar on Simultaneous Deduction u/s.54 & 54F of IT Act Against Same Asset: In a significant ruling, …