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The Allahabad High Court in a ruling has set aside a Goods and Services Tax (GST) demand order in the absence of a personal hearing, reaffirming the principles of natural justice in taxation matters. The Prakash Iron Store Vs State of U.P. case outlines the significance of furnishing the taxpayers with a fair chance to […]
It was held by the Gauhati High Court that Section 69 of the Central Goods and Services Tax Act 2017, which grants the power to arrest a Commissioner under the Act, needs the authority to not only record ‘reasons to believe’ that a taxpayer committed the specified offence but also determine the necessity to arrest. […]
A tax demand of Rs 6.72 crore has been imposed by the GST authorities on the Oil and Natural Gas Corporation Limited (ONGC), India’s largest oil and gas producer. The company in an exchange filing cited that the demand, which contains recovery of tax, interest, and penalties, relates to the IGST liabilities of the company […]
During the period when the ministerial panel on GST rationalization is asking to ensure that the advantages of lower tax are moved on to consumers the life insurance companies have filed a petition against waiving off the term insurance policies from the levy. The life insurance industry has claimed that the move will result in […]
What does IMS stand for? The mentioned functionality is said to be an effective rise in the ITC ecosystem of GST. Only the accepted invoices through the receiver shall become part of their GSTR-2B as their eligible ITC. Hence, the IMS shall furnish the taxpayer a chance to review the authenticity of the received invoices. […]
A tax demand order against M/S Jain Medicals has been set aside by the Allahabad High Court quoting the refusal of a chance for an oral hearing as obligated Under Section 75(4) of the U.P. GST Act, 2017. On 05.12.2023, M/s Jain Medicals filed a writ petition contesting an order issued via the income tax […]
A notification has been issued by the Central Board of Indirect Taxes and Customs (CBIC) citing that no Goods and Service Tax (GST) will be imposed on gene therapy and it shall get waived immediately. Finance Minister Nirmala Sitharaman announced in the previous month that the gene therapy has been waived from GST. The therapy […]
It was carried by the Himachal Pradesh High Court that the penalty provision mentioned in section 16(7) of the HP Value Added Tax Act, 2005 could not get invoked till the legal authority gets satisfied concerning Section 16(4) of the Act applicability. Section 16(4) mandates a registered dealer to file the whole amount of tax […]
It was carried by the Gauhati High Court that the Show cause notice issued before the taxpayer under section 73 of the Central Goods and Services Tax Act, 2017, the Statement issued with the SCN as well as an Order passed u/s 73(9) must mandatorily be signed via the authorised Officer. Justice Soumitra Saikia noted […]
