Court stated that the requirement for submitting a written reply to SCN and the opportunity for an oral hearing are independent of each other Legality of Restricting Personal Hearing on Failure of Replying SCN: In a recent ruling on 12 …
Constitutional Validity of Time Limit on Input Tax Credit u/s.16(4) of CGST Act 2017 has been challenged in the Supreme Court Constitutional Validity of Time Limit on ITC in Challenge: In a significant legal development, the Supreme Court of India …
Following the BJP government’s formation in Chhattisgarh, the state GST department cracking down on tax evaders. Raids reveal significant amounts surrendered, with a flower seller and transporter among those surrendering millions. GST Raids in Chhattisgarh: In the wake of the …
Learn about important cash transaction limits under Indian Income Tax laws to stay compliant and avoid penalties. From cash deposits and withdrawals to real estate transactions, get insights into regulations and limits Cash Transaction Limits: In the realm of financial …
In a recent Ruling, the Supreme Court declared the electoral bonds scheme unconstitutional. But it’s essential to note that the tax deduction for donors remain unaffected until an amendment is brought under the Income Tax Act Tax Deduction on Electoral …
Learn about the recent ITC reversal notices issued to builders, implications of reversing Input Tax Credit (ITC), and compliance requirements for ongoing and new projects under GST regulations In a recent development, numerous builders have been served with notices by …
ITRs of salaried employees in Odisha are assessed by the I-T dept and cases of mismatch in claims of deductions/exemptions in ITRs vis-s-vis Form 16 resulting into refunds of more than Rs.50000 Targeted Huge Mismatch Found in ITRs of Salaried …
Department of Revenue, Ministry of Finance, invites applications for appointment to the posts of the Judicial Members, Technical Members (Centre) and Technical Member (State) in Principal Bench and States Benches of GST Appellate Tribunal Applications Invited for Appointment of GSTAT …
The High Court has deemed it necessary to conduct further examination of the case and has scheduled the next hearing for February 22, 2024 In a recent development, the Gauhati High Court has issued an interim stay on a Show …
Orissa High Court Asks AAAR to Revisit its Ruling of GST Levy on Go Cool The Orissa High Court has made a significant ruling overturning the decision of the Appellate Authority of Advance Rulings (AAAR) regarding the Goods and Services …
Supply of medicines, drugs, consumables, and food to in-patients of a hospital will be considered a composite supply under the GST regime – Karnataka AAR In a recent ruling by Karnataka Authority for Advance Ruling (KAAR), it has been clarified …
Insurance agents have been served notices under the Benami Transactions (Prohibition) Amendment Act, 2016 In a significant revelation, the Income Tax (I-T) Department has uncovered a staggering Rs 25,000 crore benami deal within the insurance sector. The probe sheds light …
The Court affirmed the department’s right to initiate such proceedings based on material presented to the court In a recent landmark decision, the Gujarat High Court upheld the legality of search and seizure operations carried out by the Income Tax …
Madras HC: Clustering Show Cause Notices Goes Against the Spirit of Section 73 of CGST Act Validity of Clustering Show Cause Notices: In a recent judgement in case of Titan Company Ltd vs Joint Commissioner of GST & Central Excise …
SLP was Filed in Supreme Court Against a Recent Verdict of Delhi HC Upholding the Constitutional Validity of Anti-Profiteering Provisions The Supreme Court has taken a significant step by issuing a notice to the central government concerning the provisions of …
Action of Anti-Corruption Bureau was in Response to a Complaint by an Export Company In a recent development, the Anti-Corruption Bureau (ACB) has apprehended Pankaj Khurana, a chartered accountant (CA), and Prem Raj Meena, a Central GST superintendent, on charges …
Notes on Tax Structure in India: Corporate Tax Vs Personal Income Tax In the realm of tax collections, a notable shift has emerged where personal income tax (PIT) now surpasses corporations tax contributions to the central government’s coffers. This nuanced …
DGGI Has Detected Cases where Individuals with Malicious Intention Issuing Fake Summons CBIC Warns Taxpayers about Fake Summons: In a recent development, the Central Board of Indirect Taxes and Customs (CBIC) has issued a cautionary advisory regarding the emergence of …
Provisions under Clause(h) of Section 43B of Income Tax Act The Finance Act of 2023 brought about a crucial amendment to Section 43B of the Income Tax Act, 1961, with the addition of clause (h) which took effect from April …
Supreme Court Order for Vardan Associates Pvt Ltd In a recent landmark judgment, the Supreme Court of India addressed penalties imposed for transporting goods after the expiry of E-way bill validity. The case of Vardan Associates Pvt Ltd. vs. Assistant …