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The matter for re-adjudication is remanded by the Kerala High Court as the attachment of the bank account under Goods and Service Tax ( GST ) proceedings without regarding the taxpayer’s opinion. The applicant has approached the Court with the recovery notice demanding arrears of tax. A M Sainudheen, the applicant is a taxpayer under […]
In the official advisory (No. 623) released on January 23, 2024, the Goods and Services Tax Network (GSTN) has underscored the essential obligation for registered taxpayers to provide their bank account information following Rule 10A of the Central Goods and Services Tax Rules (CGST), 2017. As per the provisions outlined in the CGST Act, 2017, […]
In the case of M/S. Vaidhe Stainless Steel Vs. Union of India Through Its Secretary Ministry of Finance, the Delhi High Court has released an order declaring the Bank Account Attachment instructions given under section 83 of the GST Act ineffective after the expiry of one year. Key Details From the Judgment The petitioner has […]
The Income Tax Appellate Tribunal’s Delhi Bench ruled that the National Highways & Infrastructure Development Corp. India (NHIDCL) received funds in a fiduciary capacity from the government. The interest earned on deposits in bank accounts, derived from the funds for infrastructure projects, was deposited into the Consolidated Fund of India. Yogesh Kumar US (Judicial Member) […]
The Delhi High Court in its recent decision in the matter of M/S. Vikas Enterprises Vs. Commissioner of Central Tax (Gst), Delhi North & Anr. [2023 (8) Tmi 239- Delhi High Court], ordered to eliminate debit freeze on a bank account of a taxpayer wherein the directive was given by the superintendent. However, under the […]
A pedantic viewpoint cannot be used to negate the party’s substantive right of appeal, which is established by legislation. In a significant ruling, the Andhra Pradesh High Court excused a delay of 25 days and highlighted that if the bank account is frozen, it is impossible to make the required 10% pre-deposit for submitting a […]
GST provisional attachment order is invalid post 1 year, Bombay High Court ruled. On 21st April 2022, the communication provisionally attaching the applicant’s bank account would be made illegal and is invalid by virtue of the provisions of Section 83(2) of the CGST Act. On 19th April 2023, the extension of the provisional attachment by […]
The cash deposited via bank accounts of companies at the time of the demonetization is not unexplained cash, the Lucknow bench of the Income Tax Appellate Tribunal (ITAT) stated. Under Section 143(3) of the Income Tax Act, 1961 the taxpayer Shiva Goods Carrier Pvt. Ltd assessment order was passed in which the total income of […]
Through the GST regime, the validation of the bank account stands integrated according to the latest GST network (GSTN) advisory on 24th April 2023. The same procedure would make provides the assurance of the correctness of the bank account details of all types of GST assessee. The taxpayer would be given directions by the advisory […]
