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The Delhi High Court’s recent ruling in the case of Ashish Garg, the Proprietor of Shree Radhey Traders Vs the Assistant Commissioner of State Goods and Services Tax (SGST), Delhi Zone-7 Ward-82 in 2023 (7) TMI 1229, established that while the Revenue Department has the authority to cancel GST registration from retrospective date, such action […]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has permitted an income tax deduction for interest acquired from higher compensation for the forceful acquisition of agricultural land. The single-member bench chaired by C.M. Garg noted that the assessee’s interest in enhanced compensation received under Section 28 of the Land Acquisition Act, as part of the […]
For the case of the University of Calicut, the Kerala Authority of Advance Ruling (AAR Kerala) held, E-Activity/ Services furnished through the university to affiliated colleges and students would be levied with GST. The University of Calicut is a legal university appointed under the Calicut University Act 1975. With the purpose of teaching and affiliating, […]
A show cause notice should comprise the foundation of the case laid on which the action would be important, ruled by the Allahabad High Court. The taxpayer would have the remedy to file answers/objections toward the related authorities in case the show cause notice is sufficient. There would be two major needs of the principles […]
According to the most recent update in Parliament, Chinese handset manufacturers such as Xiaomi, Realme, Oppo, Vivo, and Oneplus have avoided paying Goods and Services Tax (GST) totalling Rs 1,108.98 crore and customs duties totalling Rs 7,966.09 crore over the last 5 years until 2023-24. Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, […]
The Kerala Authority for Advance Ruling (AAR) has issued a ruling stating that the construction of affordable residential apartments is subject to a 1.5% GST rate, while non-affordable residential apartments are subject to a 7.5% GST rate. For construction services, the Goods and Services Taxes (GST) will be calculated by deducting one-third of the value […]
In a recent ruling, the Bombay High Court declared that CGST/MGST authorities would not have the authority to keep the sum of tax on export transactions. The two-member bench comprising Justice G.S. Kulkarni and Justice Jitendra S. Jain has instructed the state government to transact the sum to the Central Government. The petitioner needed to […]
Last week, the Government included the Goods and Services Tax Network (GSTN), an IT branch that manages the GST Portal, with several agencies including the Financial Unit (FIU), an authority under the Prevention of Money Laundering Act (PMLA), to share information with. According to the list, the FIU, a national agency for receiving, processing, and […]
The Income Tax Appellate Tribunal (ITAT), the Delhi bench, has held that income derived from car parking is liable for deduction under Section 80IA of the Income Tax Act 1961. The assessee, Candor Gurgaon Two Developers & Projects Pvt. Ltd. is engaged in the business of developing SEZ in the IT/ITES Sector and lease-out the […]
