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 …
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 Council, in its 54th meeting scheduled for September 9, will discuss the GoM’s findings and the next steps in GST slab/rate rationalization efforts. GST Slab & Rate Change: The Group of Ministers (GoM) meeting on Goods and Services Tax …
The conference focused on sector-specific enforcement challenges, emerging evasion tactics, and innovative strategies to strengthen enforcement efforts. The second edition of the National Conference of Enforcement Chiefs from State and Central GST Formations took place in New Delhi on August …
The incident dates back to May 7, when Tripathy intercepted a vehicle in Jajpur Road, Odisha, carrying 22,240 kg of MS scrap worth Rs. 8,89,600 at Ravana in Jajpur. In a significant development, Vigilance officials arrested Binay Bhusan Tripathy, Assistant …
The recent guideline emphasizes that, during the audit process, if a Principal Commissioner of CGST Audit encounters scenarios where taxpayers have followed prevalent trade practices based on specific interpretations of GST laws, which could lead to multiple understandings and potential …
IIT-D has been given a 30-day window to respond to the notice, explaining why the demanded amount and associated penalties should not be collected. The Indian Institute of Technology-Delhi (IIT-D) has received a show-cause notice from the Directorate General of …
The court emphasized that the petitioner had acted in good faith by making the required pre-deposit and there was no evidence of mala fide intent on the part of the petitioner. In a recent judgement in case of Partha Pratim …
The proposals to reduce or eliminate the 18% GST rate on health insurance premiums likely to be considered in the upcoming meeting. The 54th GST Council meeting is expected to be convened in Delhi on September 9 to address key …
CBIC Instruction Dated 12 August 2024: Guidelines for 2nd All-India Drive against Fake GST Registrations The Central Board of Indirect Taxes & Customs (CBIC) has issued new guidelines in preparation for the second All-India drive against fake GST registrations, as …
The MFD association explained that many MFDs, believing they were receiving net commissions, did not secure a GST registration number post-2017. The Odisha MFD Association (Mutual Fund Distributors Association) has approached the GST Commissioner in Bhubaneswar, seeking leniency on penalties …
Gauhati High Court Ruling in case of Shree Shyam Steel vs Government of India The Gauhati High Court has ruled in the case of Shree Shyam Steel Vs UOI [WP(C)/ 3838/2024] that the State GST Authorities cannot benefit from Notification …
GSTR 1A: FAQs and Manual on Filing GSTR-1A Following the Government’s notification no. 12/2024 dated July 10, 2024, Form GSTR-1A has been introduced for the tax period starting July 2024. This optional facility allows taxpayers to add, amend, or rectify …
CBIC uncovered fraudulent Input Tax Credit (ITC) amounting to Rs. 36,374 crore, involving 9,190 cases in the FY 2023-24. The Central Tax formations under the Central Board of Indirect Taxes and Customs (CBIC) uncovered fraudulent Input Tax Credit (ITC) amounting …
The waiver applies to GST notices issued under Section 73, which pertains to non-fraudulent cases. Budget 2024 has introduced significant relief measures in shape of waiver of interest and penalty for individuals and companies registered under the Goods and Services …
FORM GSTR-1A for GSTR-1 Amendment will be available every month from the due date or actual filing date of FORM GSTR-1, whichever is later, until the actual filing of the corresponding FORM GSTR-3B. GSTR-1 Amendment: The Government has introduced FORM …
Refund of additional IGST paid on account of upward revision in prices of goods subsequent to exports Refund of Additional IGST paid due to price hike after exports: The GST Council has approved the processing of refund applications for additional …
CBIC Notification No. 2/2024- Central Tax (Rate) Dated 12 July 2024 Amendment in Notification 1/2017-CTR: In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5) of section 15 of the Central Goods and Services Tax …
Clarification on Taxability & Valuation of Corporate Guarantee between Related Parties To clarify the taxability and valuation of corporate guarantee provided between related entities, the GST Council has made significant updates. These updates include the insertion of sub-rule (2) in …