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The Madras High Court, in its recent decision, observed that a business setback and an accountant’s failure to file GST (Goods and Services Tax) returns constitute a genuine cause. Hence, the GST Network must allow the taxpayer to file the returns. In a petition filed by Tvl. Premium Tyres Private Limited, the applicant whose GST […]
The Madurai Bench of the Madras High Court has determined that a best judgment assessment issued to a non-filer under Section 62 of the Tamil Nadu Goods and Services Tax Act, 2017, is automatically withdrawn upon the submission of a valid return by the registered taxpayer, regardless of whether this submission occurs beyond the stipulated […]
The Hon’ble Supreme Court, in a ruling, affirmed that the right to correct clerical or arithmetical errors is a fundamental right for businesses, acknowledging that human errors in GST return filings are inevitable and should be rectified. It was ruled by the court that the right to correct accidental mistakes, whether clerical or arithmetical, is […]
The Central Information Commission ( CIC ) noted that the GST returns information could not be filed u/s 158(1) of the Central Goods and Services Tax Act ( CGST Act ), 2017. It was cited that the General Laws could not override the special law with the Non-Obstante Clause carrying the Supreme Court’s decision in […]
Your GST returns filing can witness an amendment this month, affecting your compliance and financial reporting processes. From new reporting limits and obligations adjustments to the compliances, such revisions under GST Notification No. 12/2024 are set to impact every taxpayer. Learn what to do to stay ahead. What Amount of Tax Do I Need to […]
A significant increase of 56% has been seen in the total number of GST return filings over a period of five years until April 2023, reaching a total of 11.28 million. The Ministry of Finance attributes this surge in GST return filings to taxpayers’ adherence to compliance. The finance ministry recently stated through a social […]
A senior tax consultant CA Kirti Joshi addressed filing GST returns presents the final opportunity to rectify any errors caused during the annual return for the year 2022-23. It is crucial to consider the income tax return while submitting GST returns, as both departments are now exchanging vital information. She shared these insights during a […]
The Indian government enacted the Goods and Services Tax Act on March 29, 2017, which took effect on July 1 of the same year. This act stands as the singular domestic indirect tax law applicable across the country, known as the Goods and Services Tax (GST). GST is a comprehensive tax imposed on both goods […]
The Rajasthan Government has made a decision to compensate late filing costs paid by taxpayers for the months of April 2021 to March 2022 in a way that will soon be regulated. The State Government is responsible, under the ruling, for reimbursing the late charge. The Rajasthan Goods and Services Tax Act, 2017, registered taxable […]
