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The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has again granted (extended) the stay to Google India by another 6 months for collection of due tax (worth Rs 1260.58 crores). In the first hearing also, the tribunal granted a stay of 6 months. In the stay order of the first hearing, google was […]
Hoteliers, for stand-alone restaurants, have requested the government to reduce the hiked Goods and Services Tax (GST) on commercial liquefied petroleum gas (LPG) cylinders, otherwise, it would lead to an unwanted hike in the prices of food items. Recalling history in a hurry, Between December last year(2020) and March(2021) this year, the price of a […]
Haryana and Punjab High Court had observed initially that parliament was authorized under the constitution to have a problem solving mechanism post incorporation of the Central Goods and Services Tax (CGST) Act after 4 years. The force came as the Judge let go of the decision of Justice Rajan Gupta and Justice Karamjit Singh has […]
It’s a great setback to the Bank of India(BOI) and a lesson for other banks operating overseas. The Mumbai bench of the Income-tax Appellate Tribunal (ITAT) has issued orders not to refund foreign taxes aggregating to Rs. 182.64 crore paid by the Bank of India (BOI) as the bank suffered financial loss and does not […]
Hearings cannot be replaced by telephone & e-mails. This verdict was passed by the Bombay High Court while responding to the petitioner “BA Continuum India Pvt. Ltd.” and respondent “GST authority” in a hearing-related case. The petitioner(BA Continuum India Pvt. Ltd.) is a company and provides information technology and information technology-enabled services to customers located […]
The paucity of employees in the Central Goods and Service Tax Department is affecting the government exchequer along with the effectiveness and efficiency of the aforesaid department. Consequently, The All India Federation of Customs, Central Excise, and GST Employees Welfare Association has addressed a letter to Union finance minister Nirmala Sitaraman to fill up over […]
The Bangalore Bench of the ITAT ruled that “the income of the assessee should be estimated at 8% of the gross turnover if books of accounts are not maintained by the assessee.” The income of the assessee, Atul Dinesh Seth, was estimated at 10 percent of gross turnover. The assessee contended that the rate imposed […]
The judgment was passed in a case where the Kerala High Court ordered the release of goods that were seized (of value less than Rs 50000) for the reason that petitioner did not have an e-way bill and a detention notice was issued to him in Form GST MOV-7. In the aforesaid case, watches were […]
The government is planning to upgrade the QR code for UPI in such a manner that it can include the GST component and show the same separately on the interface. This would make it possible for the government to formulate fiscal incentives for digital payments. Latest Update 19th December 2022 Under the RuPay Debit Card […]