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The late payment of Tax collection at source (TCS) and Goods and Services Tax (GST) does not constitute a penalty and should, in fact, be eligible for deduction under Section 37 of the Income Tax Act, 1961, the Jaipur bench of the Income Tax Appellate Tribunal (ITAT) recently ruled. The taxpayer involved in this case […]
The technical know-how fee obtained via Bajaj Auto Ltd comes beneath the classification of royalty and therefore is qualified for the deduction under Section 80-O of the Income Tax Act, 1961, Mumbai bench of the Income Tax Appellate Tribunal (ITAT) ruled. The taxpayer entered into a technical knowledge agreement with a foreign company called M/s […]
An assessment order passed without affording a personal hearing under Section 75(4) of the Goods and Service Tax (GST) Act, 2017 has been dismissed by the Single Bench of the Kerala High Court. The current writ petition has been submitted by Julie Jose, who is subject to the Central Goods and Service Tax (CGST) and […]
The GST e-invoice system has been updated, mandating two-factor authentication for all taxpayers with an Annual Aggregate Turnover (AATO) above Rs. 20 crores. It will be effective from November 20th, 2023. The National Informatics Centre (NIC) has released a similar updation of the requirement for two-factor authentication, applying to taxpayers with an AATO above 100 […]
The Delhi High Court has noted that patent and trademark agents are not subject to the jurisdiction of the Bar Council of India or the Advocates’ Act, 1961. Justice Prathiba M Singh emphasized the lack of an overseeing or regulatory body for trademark and patent agents, which is currently a pressing issue. Consequently, the bench […]
Businesses providing incentives to their dealers, in the form of gold coins, could face tax consequences under the goods and services tax (GST) on the grounds of a decision by the Karnataka Authority for Advance Ruling (AAR). In the Orient Cement case, the AAR noted that these incentives given by companies to dealers should be […]
The Directorate General of Goods and Service Tax Intelligence (DGGI) cannot be prevented from opting the intelligence-based enforcement action when investigations are under process by other authorities, the Delhi High Court ruled. When any of the council would have revealed it important to investigate the applicant based on specific data, the investigation could not be […]
To rectify the experience of the assessee the income tax department would have opted a significant step through initiating the newly updated national website, www.incometaxindia.gov.in. The website secures an upgraded user interface, helpful additional features, and new modules to uphold growing technology. Nitin Gupta, the Chairman of the Central Board of Direct Taxes (CBDT), launched […]
The Punjab Bench of the Authority for Advance Ruling (AAR), in the case of Punjab State Transmission Corporation Ltd. has ruled that shifting of Electricity Transmission Lines is subject to GST. The assessee is operating the business of Transmission of electricity which is not under the law, vide GST Notification No. 12/2017 released on 28th […]
