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In response a petition filed by builders and developers, the Bombay High Court has decided that goods and services tax (GST) would be leviable on the one-time premium of a long-term lease of 30 years or more, as it is treated as a ‘supply’ under the GST law.
The High Court order has been quashed by the Supreme Court of India dismissing the ITC advantage claimed as the Uttar Pradesh Value Added Tax Act, 2008 (‘the UP VAT Act’) has no provision to compute the ITC apportionment. The taxpayer Modi Naturals Ltd is a company that secures the business of manufacture and sale […]
The Goods and Service Tax (GST) Act was inaugurated at midnight on July 1, 2017. This legislation’s primary objective is to provide a framework for imposing and collecting taxes on the intra-state supply of goods or services, or both, by the central government and related matters. Under the GST Act of 2017, 13 distinct types […]
The refund of the Integrated Goods and Service Tax (IGST) amount including a subjected interest to an applicant who mistakenly filed IGST on a higher rate compared to the concessional applicable rate, Gujarat High Court ruled. The applicant, Tagros Chemicals India Pvt. Ltd., had been registered under GST as its introduction, and the case related […]
The tax authorities have increased their tax demands on several manufacturers of automobile parts, citing a Supreme Court ruling involving a business owned by the West Bengal government. As per informed sources, the Directorate General of Goods and Services Tax Intelligence (DGGI) has issued notices to at least 17 of these businesses in the last […]
The Supreme Court has stated that judgments taken by higher authorities should be followed in order to prevent complete anarchy in the administration of tax legislation. It was stated that failure to abide by the rulings of higher authorities would also result in excessive harassment of assessees. The Bench of Justice S. Ravindra Bhat and […]
The Gujarat high court has brought lightning news for all the exporter after scratching the deep down legitimacy of a provision under the goods and services tax (GST) that restrains the use of advance authorisation licenses.
In a ruling, on the importance of procedural fairness in tax assessments, the Madras High Court has set aside an assessment order against Shree Shyama Traders, arising from an issue towards Input Tax Credit (ITC) reversals and a consequential bank attachment order. The same decision, dated back to the proceedings begun in 2023, emphasizes the […]
Globe Panel Industries India Pvt Ltd Vs State of U.P. And Others (Allahabad High Court) The Allahabad High Court in a judgment, furnished significant relief to Globe Panel Industries India Pvt Ltd, setting a precedent on the implications of an expired GST E-Way Bill in the transportation of goods. The same decision, arising from the […]
