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The show cause notice (SCN) asking for the GST on ocean freight on transportation of goods from outside India has been quashed by the Bombay High Court. On the Supreme Court decision in the case of Mohit Minerals and observed that the verdict applies to both free on board (FOB) and the sum of cost, […]
Life Insurance Corporation of India (LIC) announced that it has received a notification regarding payment of Goods and Services Tax (GST). Including interest and penalty, the notice stated the amount of Rs. 806 crore. LIC plans to challenge this decision and will file an appeal. The notice was received on January 1. According to LIC, […]
ICICI Bank Ltd and Kotak Mahindra Bank Ltd, private sector lenders, announced on Thursday (December 28) that they’ve been issued demand notices by the Goods and Services Tax (GST) Department. The notices amount to ₹26.8 crore for ICICI Bank and ₹62.3 lakh for Kotak Mahindra Bank. ICICI Bank reported that it received a notification from […]
Zomato and Swiggy, the top two food delivery platforms in the country, are reportedly being investigated by tax authorities. According to the report, notices totaling ₹750 crore have been sent to them. Zomato, which holds the largest market share in India’s online food delivery industry, has allegedly received a Goods and Services Tax (GST) notice […]
In recent weeks, Indian companies have received a surge of GST demand notices pertaining to situations where foreign employees have been assigned to work in India. This development stems from a landmark Supreme Court ruling that stipulates that the salaries of such “seconded employees” sent to Indian companies, which are reimbursed to the overseas entity, […]
In a recent case regarding dismissing a writ petition filed by a taxpayer against a GST assessment year, the Supreme Court upheld the move by the Patna High Court. The directive given in the Vishwanath Traders case has significant implications for small and medium-sized enterprises (SMEs), micro, small, and medium enterprises (MSMEs), small business owners, […]
Recently, the goods and service tax (GST) authorities are seen in a hyperactive mood tightening their reigns on the taxpayers, who are found guilty of not paying their tax dues.
The Madras High Court in its ruling set aside the Goods and Services Tax ( GST ) demand order issued completely on a different basis from the Show Cause Notice ( SCN ). Fresh proceedings are ordered by the court. Madras High Court addressed a discrepancy between a tax order and the initial SCN, leading […]
A demand notice of Rs 1.45 lakh cr has been issued to nearly 1500 businesses in December by the Goods and Services tax authorities. Because of the inconsistencies in annual returns and input tax credit claims for the financial year 2018, the notices were issued as per the officials. Due to the last date for […]
