Allahabad High Court Order Dated 23 November 2023 Reducing 56 Lakhs GST Penalty to 10000 In a significant decision on 23 November 2023, the Allahabad High Court has reduced a penalty order of Rs. 56 lakhs imposed on a private …
Prosecution Provisions under Income Tax for Various Offences of Taxpayers The Income-tax Act encompasses a comprehensive framework that allows authorities to initiate prosecution proceedings against taxpayers for a myriad of offenses. The Act delineates various offenses, ranging from wilful evasion …
Order of Cancellation of GST Registration Without any Valid Reason Questioned by Delhi High Court In a recent development, the Delhi High Court has raised concerns over a registration cancellation order issued by GST authorities against Sai Aluminium EXIM. The …
Prosecution u/s. 276CC Against Genuine Taxpayers who have Diligently Prepaid a Significant Portion of their Tax Obligations is not Justifiable: Madras High Court Order Dt. 17 November 2023 Legality of Prosecution Against Genuine Taxpayers who Prepaid Substantial Part of their …
Interest & Penalty cannot be Imposed if Wrongly Claimed Input Tax Credit (ITC) is Reversed Before Use – Punjab & Haryana High Court Order for Deepak Sales Corporation Legality of Imposing Penalty & Interest When Wrongly Availed ITC is Reversed …
Two Years Limitation in GST Refund Application Filing is Directory, Not Mandatory: Madras High Court Order for Lenovo (India) In a significant ruling, the Madras High Court has declared that the stipulated two-year limitation for filing Goods and Services Tax …
Central Government Specifies Dy Director General (Tech Development Dvn) UIDAI as Authority for Disclosure of Information Respecting Assessees: CBDT Notification No. 99/2023 Dated. 20 November 2023 The Central Board of Direct Taxes (CBDT) vide its Notification No. 99/2023 Dated. 20 …
Format, Procedure and Guidelines for submission of Statement of Financial Transaction (SFT) for Mutual Fund Transactions by Registrar & Share Transfer Agent: Corrigendum to Notification No. 4/2021 Corrigendum to Notification 4/2021: The format, procedure and guidelines for submission for SFT …
Corrigendum to Notification No. 3/2021: Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Depository Transactions Corrigendum to Notification 3/2021: The format, procedure, and guidelines for submission of information relating to capital gains on transfer of …
Guidelines on Direct API Integration with IRPs for Seamless e-Invoicing: GST Advisory 615 Dt. 17 November 2023 In a significant move towards simplifying e-invoicing processes, the Goods and Services Tax Network (GSTN) has recently issued Advisory 615 on 17/11/2023. This …
ITC Should Not be Denied Merely Because of Difference Between GSTR-2A and GSTR-3B: Kerala High Court Order for Raju Joseph In a recent development, the Kerala High Court has issued a directive instructing the Assessing Authority to revisit the denial …
Biometric Based Aadhar Authentication Applicable for Andhra Pradesh along with Gujarat and Puducherry: CBIC Notification No. 54/2023 (Central Tax) The Central Board of Indirect Taxes and Customs (CBIC), on recommendation of the GST Council, makes the following further amendments in …
Steps of Filing a GST Appeal to First Appellate Authority Against a Demand Order In the realm of GST, taxpayers facing grievances with decisions or orders from adjudicating authorities can seek redress by filing an appeal to the Appellate Authority. …
Appeal to First Appellate Authority Under GST: A Complete Manual Appeal under GST: In the realm of tax law, it’s acknowledged that diverse perspectives may emerge based on the same set of facts and laws. Consequently, there is a likelihood …
GST Advisory No. 614 Dated. 14.11.23 on Introduction of New Online Functionality for Reporting of ITC Mismatch Between GSTR-2B and GSTR-3B (Form GST DRC-01C Introduced) GST Advisory 614: In a recent groundbreaking update, the Goods and Service Tax Network (GSTN) …
GST Advisory No. 613 Dated. 14 November 2023: As per Rule 37A ITC to be Reversed by 30 November of Subsequent FY When Supplier Fails to Furnish GSTR-3B Within Stipulated Time In a recent development on the GST portal, the …
Government’s Focus in Bringing all Businesses into GST Bracket Focus in Bringing all Businesses into GST: In a groundbreaking move, Gujarat has set a precedent by introducing biometric-based GST registration, marking a pivotal shift towards a more inclusive and transparent …
NIPFP Proposes for Withdrawal of All GST Exemptions NIPFP Proposal for Eliminating GST Exemption: In a significant development, the National Institute of Public Finance and Policy (NIPFP), an independent research institute operating under the finance ministry, has put forth a …
GST Advisory 612 Dt. 10 November 2023: Clarity on Amnesty Scheme 2023 for Deadline Missed Appeals GST Advisory 612: In a significant move aimed at providing relief to taxpayers, the Goods and Services Tax Network (GSTN) released a crucial advisory …
Exemption U.S.11 Cannot Be Granted When Trust Activities Are Commercial In a recent ruling concerning Section 11 of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT) Chennai bench emphasized that exemptions cannot be granted when the activities …