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The Allahabad High Court ruled that seizing a vehicle transporting goods without prior notice infringes upon the civil rights of the transporter, considering the truck as the essential capital asset of the transporter. The petitioner is displeased with the confiscation of their vehicle, and the legal proceedings have been initiated under Section 129 of the […]
The Orissa High Court has determined that the writ petition lacks merit since the assessee should have approached the tribunal in light of the GST department’s failure to comply with the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT)’s directive. The bench, consisting of Acting Chief Justice Dr. B.R. Sarangi and Justice Murahari Sri Raman, […]
The Central Board of Direct Taxes (CBDT) has introduced online filing for Form 15CD for the Financial Year 2023-24, aligning with its commitment to enhance efficiency and simplicity in the tax compliance process through digital means. This development, as outlined in CBDT notification no. 89/2023 dated October 16, 2023, underscores the organization’s dedication to embracing […]
On February 1, the Budget for the fiscal year 2024-25 will be presented in Lok Sabha by Union Finance Minister Nirmala Sitharaman. This Union Budget is considered interim due to the upcoming Lok Sabha elections early next year. The complete budget is expected to be formulated after the establishment of a new government. Experts in […]
The Madras High Court has nullified the decision to revoke the Goods and Service Tax registration without affording the petitioner an opportunity for a hearing. The court has instructed the respondents to issue a new show cause notice under the law within a three-week timeframe. The petitioner, Mr. V S K Traders & Services, contested […]
The software company SAG Infotech has added a new feature called ‘Import Tally‘ to their latest version 5.33 of Gen GST Online software. This means that users of this software can now easily import data from Tally, another popular accounting software. Now, it’s easier for taxpayers who file returns in a form called GSTR 1 […]
A senior official from Tata Motors, the leading manufacturer of electric vehicles in the country, cautioned on Wednesday that any effort to reduce GST tax rates on hybrid cars could lead to confusion in the industry and dilute the government’s endeavours to achieve its net-zero objectives. Shailesh Chandra, the managing director of Tata Motors’ divisions […]
In the scrutiny of a loan transaction between two entities, where the borrower’s liability decreased in the accounts by the amount paid to settle the assessee’s obligation, the Madras High Court determined that this transaction seems to comply with the law. The court explicitly stated that the penalty under Section 271E of the Income Tax […]
The Hon’ble Delhi High Court in the case of Varyam Dass Khurana v. Commissioner of GST, New Delhi [W.P. (C) No. 15670 of 2023 dated December 05, 2023] ruled that the cancellation of registration must take effect from the issuance date of Show Cause Notice, and not retrospectively. Key Information Late Mr. Varyam Dass Khurana […]
