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 …
Court Upheld the Applicability of GST on Transfer of Land development Rights under JDA, Distinguishing it from Sale of Land GST on Transfer of Land Development Rights: In a significant development, the Telangana High Court has rejected a writ petition …
This Raid is a Part of an Extensive Investigation Against a Former MLA & MP Suspected in Significant Tax Evasion and Accumulating Disproportionate Assets The Income Tax Department’s Investigation Wing recently carried out a raid at the residence of former …
Bribe Demand was Confirmed during the Course of the Investigation, Leading to the Registration of the FIR In a recent development, an Assistant Commissioner of Maharashtra’s tax department, along with several other officers from the State GST department, has come …
Recommended a reduction in GST rates applicable to various health insurance products, including retail policies for senior citizens and micro-insurance policies, along with term policies The Standing Committee on Finance has recommended a reduction in the Goods and Services Tax …
A List of Changes in ITR Forms (ITR-1 to 6) Applicable for Financial Year 2023-24 (AY 2024-25) ITR Form for AY 2024-25: As per the recent notifications of CBDT, specifically Notification No. 19 of 2024 dated January 31, 2024, ITR …
How to respond to Notices under Section 133(6) of I-T Act Notice under section 133(6) is a crucial provision granting investigative powers to designated officers within the income tax department. This section empowers the designated officers to ask the taxpayers …
New Reporting Requirement of GSTR 1 from January 2024 Learn about the latest reporting updates in the Goods and Services Tax Return-1 (GSTR-1) form, effective from January 2024. Notification no 26/2022, dated 26th December 2022, introduced two crucial tables, Table …
Penalty Cannot be Imposed u/s.129 If all Dues of Tax are Already Paid In a landmark legal development, the Calcutta High Court quashes a penalty order on 1 February 2024, in the case of Mohammad Shamasher vs. State of West …