In a significant development, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has ordered a re-adjudication of a case due to a critical error in the communication process. The notices to fix the date of the hearing were …
The Delhi bench of the ITAT (Income Tax Appellate Tribunal) Delhi recently made a significant ruling regarding voluntary tax deposits and their implications on penalties. In a case involving Pradip Burman, the ITAT emphasized that making a voluntary tax deposit …
In a recent ruling dated September 12, 2023, the Kerala High Court ordered that the denial of ITC to a buyer solely based on missing entries in GSTR-2A of seller is not justifiable. The court emphasized that the GSTR-2A form …
In a significant development, the Kerala High Court has overturned the disallowance of tax credit for small-scale dealers, attributed to the challenges faced during the initial implementation of the GST regime. The decision, handed down by Justice Dinesh Kumar Singh, …
No Service Tax on Water and Electricity Supply to Tenants: In a recent ruling by the Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), it was ruled against applicability of service tax on water and electricity supply …
CBIC Clarification on Taxability of Gangajal In response to controversies based on some recent media report on taxability of Gangajal, the official handle of the Central Board of Indirect Taxes (CBIC) in its tweet in social media “X” (previously tweeter) …
In an update on the GST portal on 12th October 2023, GSTN has informed about development of a new functionality in the GST portal for enrolment of unregistered persons for supply of goods through E-Commerce operators. In terms of the …
In an update in the GST portal on 12th October 2023, GSTN has informed about the development of a facility for E-Commerce Operators through whom unregistered persons can supply goods. Under this facility in the GST portal, the GSTN has …
Introduction The Central Board of Direct Taxes (CBDT) vide its Notification No.88/2023 Dated.10th October 2023 has notified some amendments in Rules 114B, 114BA and 114BB of the Income Tax Rules 1962. These Rules may be called the Income Tax (Twenty …
GSTR 2A and GSTR 3B Discrepancy Not Grounds for ITC Denial In a significant ruling, the Hon’ble High Court of Kerala, in the case of M/s. Henna Medicals vs. State Tax Office, Thalassery & Ors., held on 19th September 2023 …
Introduction-ITAT Delhi Removes Penalty under section 271AAA In a recent development, the Income Tax Appellate Tribunal (ITAT) Delhi bench delivered a significant ruling by waiving the penalty under section 271AAA of the Income Tax Act, 1961. The decision was motivated …
CBDT Circular No. 17/2023 In a recent development, the Central Board of Direct Taxes (CBDT) released Circular No.17/2023 on 9th October 2023, bringing important clarifications on compliance obligations for charitable and religious entities in respect of filing their audit report …
Introduction: Appeal to Income Tax Appellate Tribunal The Income Tax Appellate Tribunal (ITAT) serves as a crucial platform for hearing appeals related to income tax orders issued by tax authorities. It operates under the oversight of the relevant High Court …
Introduction-Highlights of 52nd GST Council Meeting The 52nd GST Council Meeting, held in New Delhi, concluded with several significant decisions aimed at boosting specific sectors and streamlining tax provisions. Finance Minister Ms. Nirmala Sitharaman announced the outcomes, showcasing a focus …
Introduction: New Rule of Nil or Low TDS certificate for NRIs Effective from October 1, a new set of regulations regarding Nil or Low Tax Deducted at Source (TDS) certificates for Non-Resident Indians (NRIs) has been introduced by the Central …
E-filing of form-10F by NRIs Possible without PAN In a significant development, non-resident individuals or entities without a Permanent Account Number (PAN) can now conveniently e-file Form 10F, which is required with a “tax residency certificate” to avail of tax …
Special Campaign 3.0: The Central Board of Direct Taxes (CBDT) has initiated Special Campaign 3.0 dedicated to promoting cleanliness (Swachhata) within various branches of Income Tax Department throughout nation. The campaign kickstarted with a preparatory phase commencing on September 15, …
Introduction: 52nd GST Council Meeting The 52nd GST Council meeting is scheduled to take place on October 7, 2023, in New Delhi, with Union Finance Minister, Mrs. Nirmala Sitharaman, serving as the chairperson. This meeting comes about two months after …
LIC has received Income Tax notices for three different assessment years viz., 2012-13, 2018-19 and 2019-20 with the total penalty amounting to over Rs 84.02 crore. Life Insurance Corporation (LIC) on Tuesday said that the Income Tax Department has demanded …
In an Advisory on 3rd October 2023, GSTN has informed that the e-Invoice JSON download functionality is now live on the GST e-Invoice Portal. For the benefit of taxpayers, in its advisory, GSTN has mentioned the key steps to download …