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The past six years have seen more than 1,000 notifications, circulars, and instructions for assesses and adjudicating authorities, therefore opening up the GST law to interpretation by assesses and authorities identical. The same interpretation has furnished an increase to the rising case laws across different judiciaries and writ petitions being filed to various High Courts […]
A penalty notice for the GST has been sent to Zomato the popular online food delivery app via the Deputy Commissioner of State Tax in Gujarat. Under the disclosure made to the stock exchanges, Zomato has obtained a demand order because of the overuse of the Input tax credit (ITC) and underpayment of GST. An […]
The Delhi High Court ruled that GST registration could not get cancelled just because an assessee does not file returns for a certain duration. The Petitioner stopped the business on the father’s demise. The retrospective cancellation of the registration consequence in the rejection of the ITC for a particular duration. Raghav Arora, the applicant contested […]
In the case of Fairdeal Metals Limited Vs Asst. Commissioner Of Revenue, State Tax WPA/170/2024; Calcutta High Court has expressed that the buyer, who is in no way associated with any of the allegations that have been incurred against the seller, could not be made responsible to pay a penalty for incorrect doings of seller. […]
A new show cause notice has been issued via the GST for Rs 66.7 cr, as per the reports from Star Health and Allied Insurance Co Ltd. The two orders amounting to Rs 17.9 crore and around Rs 103.7 crore respectively, were obtained from the GST authorities, Tamil Nadu for the years 2018-19 and 2019-20, […]
The Delhi High Court held that only the case that an assessee does not furnish the returns for a certain duration does not direct that the registration of the assessees needed to be cancelled with the retrospective date indeed covered the duration when the returns get filed and the assessee was compliant. Justice Sanjeev Sachdeva […]
The Income Tax department recently issued advisories to specific taxpayers regarding disparities found between the information disclosed in their filed income tax returns (ITR) and the data received from various reporting entities such as banks, financial institutions, property registrars, etc. Aarti Raote, Partner at Deloitte India, clarified, “After filing tax returns, they undergo initial processing […]
The collection of Goods and Services Tax (GST) has been exhibiting an upward trajectory yearly since its implementation on July 1, 2017, and the average total monthly collection in the current financial year so far is Rs 1.66 lakh crore, as stated by Finance Minister Nirmala Sitharaman on Monday. In a written response to a […]
In its recent ruling, the Income Tax Appellate Tribunal (ITAT), the Visakhapatnam Bench has said that according to Section 80P of the Income Tax Act, a deduction is available for the interest income generated from deposits or investments made with cooperative banks. The panel consisting of Duvvuru Rl Reddy (Judicial Member) and S Balakrishnan (Accountant […]
