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The Bombay High Court in a judgment dated [date], provided a ruling for the matter of CEAT Limited versus the Commissioner of Income Tax (CIT). The case is concerned with the interpretation and application of Section 244A of the Income Tax Act, 1961, specifically regarding the entitlement to interest on refunds due to taxpayers. Case […]
The Income Tax Department in a relief for taxpayers awaiting their income tax refunds, has disclosed a deadline of April 30 for the approval of pending refunds. The same measure arrived amidst a flurry of activity within the department, with exceeding than 46,000 Income tax returns furnished within the first 5 days of the AY […]
In Tamil Nadu, particularly in Erode and nearby regions, more than 100 power loom weavers, have claimed for the payment of GST refunds for the tax they paid over approximately 13 months in 2017-2018. B. Kandavel, the organizing secretary of the Federation of Tamil Nadu Powerlooms Associations, recently informed that in Erode alone, 120 weavers […]
The Delhi High Court in the case of M/S SETHI SONS (INDIA) Vs. ASSISTANT COMMISSIONER has permitted the GST Refund claim beyond the limitation time owing to a late filing because of GST Portal Glitches. The petitioner lodged this petition due to being dissatisfied with the refusal to refund unused input tax credit (ITC) gathered […]
The Kolkata Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has ruled that biscuits can be considered ‘foodstuff’ and thus qualify for the exemption from service tax. The bench, comprising R. Muralidhar (Judicial Member) and K. Anpazhakan (Technical Member), has granted the refund that was initially denied by the adjudicating authority due to […]
The majority of the people as well as firms noticed it easier to claim income tax refunds and suffer the shortage of waiting durations for obtaining that which shows the private survey of more than 3500 respondents. More than half the respondents in the survey performed via the industry body Confederation of Indian Industry (CII) […]
With 3.5 million tax refund cases currently in a state of delay, the Income Tax (IT) department is contemplating the organization of campaigns to aid taxpayers. Additionally, they are actively exploring alternative methods to expedite the refund processing. The manual processing of income tax refunds was fraught with challenges in the past. To streamline this, […]
The income tax department has set its plan to reduce the processing time for tax refunds. An official report indicates that the tax department is considering a reduction from the current 16 days to a 10-day period for processing tax refunds. This proposed timeline is anticipated to take effect within the current fiscal year. A […]
If you receive a message showing that your income tax refund has been approved, whether it be for Rs. 15,490 or any other sum, and it asks to update or verify your bank account in order to collect the refund, ignore it as a fraud and refrain from replying. A large number of taxpayers are […]
