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In the present digital-first business world, beyond traditional paper filings and manual entries, tax compliance has evolved immensely. The Goods and Services Tax (GST) rollout in India has transformed the indirect tax landscape by easing the procedure through digital platforms. Digital transformation carries responsibilities for the protection of sensitive business and financial data. Assuring data […]
The Gujarat High Court, in an order issued a notice on a petition contesting the constitutional validity of the second and third provisions of Section 16(2) of the GST Act, which require the reversal of GST ITC when payment to the supplier is not filed within 180 days. The applicant, Priya Blue Industries Pvt Ltd, […]
The Kerala High Court has issued a ruling stating that a Goods and Services Tax (GST) registration that has been cancelled cannot be reinstated solely for the intention of claiming Input Tax Credit (ITC) as per Section 16(6) of the CGST Act, 2017. Under Section 16(6) of the Central Goods and Services Tax Act, 2017, […]
The Income Tax Appellate Tribunal (ITAT) Mumbai Bench has recently ruled that the Assessing Officer (AO) must provide the assessee with the full Tax Deducted at Source (TDS) credit amounting to ₹14,78,140 for the Assessment Year (AY) 2011–12. This decision highlights the importance of correctly applying TDS credits in tax assessments. According to the Tribunal, […]
The Allahabad High Court, Lucknow Bench, has quashed both the cancellation of GST registration and the following rejection of the appeal of the taxpayer on limitation grounds. The court said that the case must be reconsidered and asked the authorities to furnish a fresh chance of hearing. A fresh show cause notice needs to be […]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the appeal based on inordinate delay of 1,370 days in filing, holding that the taxpayer’s reliance on its tax consultant’s failure to advise remedial action does not comprise “sufficient cause” for condonation u/s 5 of the Limitation Act, 1963. An order dated 29 […]
The report of the Directors is an important part of a company’s annual financial statements. It assists shareholders, regulators, and other interested parties in comprehending the company’s performance, its financial health, the risks it encounters, the opportunities it has, and what is its future. In earlier times, preparing this report was a long process for […]
The Lucknow Bench of the Allahabad High Court has quashed a GST demand order that exceeded the scope of the original show cause notice, which cited a breach of Section 75(7) of the CGST Act, 2017. It was discovered by the court that the final demand of Rs 3.04 crore was more than Rs 2.10 […]
The Tripura High Court has recently clarified that a penalty paid under economic pressure cannot be considered a voluntary admission of liability. The Court further emphasised that tax authorities are still required to issue a final, well-reasoned order in accordance with the Tripura State GST Act, 2017. A recent ruling has emerged from the case […]
