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The Madras High Court ruled that a tax recovery officer could not declare a sale that the taxpayer made in favor of a third party void if he discovers that the property of the taxpayer was transferred by the taxpayer to a third party to defraud the revenue. The bench of Justice C. Saravanan has […]
The Delhi High Court has ruled that the Tax Deducted at Source (TDS) by the employer cannot be reclaimed from the person from whom it was deducted, as stated in section 205 of the Income Tax Act, 1961. Vishesh Khanna, the person who filed a Writ of Mandamus, requested that Respondent No. 1 cancel the […]
In October 2023, India recorded gross GST collections of Rs 1.72 lakh crore, marking a 13.4% rise from the previous year. Over the six years since its inception, the New GST system has notably enhanced tax buoyancy, streamlined logistics, improved tax administration, and fostered increased formalization, among other benefits. Consistent growth in tax collections is […]
In the case of M/s. Caterpillar India Pvt. Ltd. v. The Assistant Commissioner Chennai [WP No. 28092 of 2023 dated September 25, 2023], the Madras High Court granted the writ petition, affirming that recovery based solely on variations between Form GSTR-1 and Form GSTR-3B is impermissible without adherence to the prerequisites outlined in Rule 88C […]
In the current fiscal year, officials have informed that the Central government anticipates a recovery of over Rs 50,000 crore in evaded Goods and Services Tax (GST). This figure is more than double the recovery achieved in the previous fiscal year, FY23, potentially making it the highest annual tax recovery ever. As of now, during […]
The GST authorities have noticed that numerous individuals, whose GST registrations were previously revoked due to fraudulent activities, persist in operating their businesses and levying taxes without restraint. In light of information from reliable sources, the central government, in coordination with state governments, is poised to take stringent measures against these taxpayers to address this […]
The Hon’ble Allahabad High Court in RAVINDER NATH SHARMA@ RAVUBDER SHARMA VERSUS UNION OF INDIA – 2023 (7) TMI 626 – ALLAHABAD HIGH COURT gave the bail to the taxpayer acknowledging certain conditions and carried that the arrest was made without no proper justifiable reasons and no GST recovery notice was issued. Points: Ravinder Nath […]
As the ongoing sales over the e-commerce platforms ahead of Independence Day, the GST collection by Goa has been revealed. Goa’s GST collection grew 25%, over a period of three years, namely from 2019-20 to 2022-2023, as per the state government. The data was disclosed in the state legislative assembly, the GST revenue from e-commerce […]
India’s Gross Goods and Services Tax (GST) revenue collection for the month of July 2023 has surpassed a whopping ₹1,65,105 crore, representing an outstanding 11% year-on-year rise. This significant milestone marks the fifth time that GST collection has topped the 1.6 lakh crore threshold since its implementation. The country’s economic resiliency and the successful implementation […]
