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The limitation for GST refund claimed under the wrong head ceases to apply from the date of correct payment, the Patna High Court has ruled. After reading Section 77 of the CGST Act, 2017, read with Section 19 of the IGST Act, Justices Rajeev Ranjan Prasad and Shailendra Singh viewed that the date of counting […]
The Rajasthan Commercial Taxes Department has issued Circular No. F.17 (134) ACCT/GST/2017/547, dated August 12, 2025, directing strict verification of Input Tax Credit (ITC) claims for businesses obtaining GST registration after the prescribed 30-day period under the CGST/RGST Act, 2017. Taxpayers u/s 25 of the RGST Act should apply within 30 days from the date […]
Since the inception of the Goods and Services Tax (GST) in India in 2017, businesses have faced challenges in adjusting to the new tax system. The aim of GST was to simplify compliance, but achieving this objective has not been easy so far. GST was introduced to streamline indirect taxes, but filing GST returns involves […]
In the subject of taxes, a small error in the TDS (Tax Deducted at Source) information can lead to multiple issues. It includes delays in filing returns, receiving notices, and even penalties. Keeping TDS information appropriate cannot be easier for businesses and tax professionals. Modern TDS software solutions are there to support in determining and […]
The Orissa High Court has cancelled a GST demand issued by a state tax official, stating that it was unfair because it effectively taxed the same goods twice. The order passed u/s 73 of the Central and Odisha GST Acts for the financial year 2021-22 has been contested by the applicant, Sai Sitaram Construction, a […]
The Tamil Nadu Commercial Taxes Department has levied a demand order under the Central Goods and Services Tax Act, 2017, on Apollo Tyres Limited, the company informed the stock exchanges. The issue is with the ITC claimed eligibility of the company and comprises both the GST amount and a consequential penalty. Rs. 61.52 lakh is […]
The Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes (CBIC), in between the preparations for the new Income Tax legislation and other reforms in indirect tax administration, face significant staff shortages. The CBDT has a vacancy rate of roughly 34 per cent, while the CBIC has a 39 per cent […]
The Supreme body of Chartered accountants, ICAI, cited that the new income tax bill provides a simple and transparent framework that facilitates the operations of business and supports the objective of India to become the most perfect destination of investment. A new income tax bill has been passed by the Parliament to supersede the 60-year-old […]
For the financial year 2025-26, the gross direct tax collections of India stood at Rs. 7,98,822 crore as of August 11, 2025, marking a 1.87% decrease compared to Rs 8,14,048 crore collected in the same period last year, as per official data from the Tax Information Network – Management Information System (TINMIS). The recent decline […]
