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The reassessment proceedings executed against the non-existent/amalgamated entity under Section 148 A of the Income Tax Act have been cancelled by the Madhya Pradesh High Court stating that despite being available the other remedy has no bearing on the same cases when the entity has stopped to exist under the amalgamation. There is no independent […]
In the case of M/s. Caterpillar India Pvt. Ltd. v. The Assistant Commissioner Chennai [WP No. 28092 of 2023 dated September 25, 2023], the Madras High Court granted the writ petition, affirming that recovery based solely on variations between Form GSTR-1 and Form GSTR-3B is impermissible without adherence to the prerequisites outlined in Rule 88C […]
The Allahabad High Court ruled that under the GST regime, all filed details and returns are accessible through the GST Department’s portal. Authorities can verify the tax amounts deposited post-GSTR-1 and GSTR 3B filing on this portal. Justice Piyush Agrawal, while cancelling the penalty order, stated that “Under the GST regime, all details are available […]
Government sources anticipate that the current robust trend in direct tax and GST collections will likely persist, potentially surpassing the Budget Estimate by a significant margin in the fiscal year 2023-24. However, these projections stem from the initial evaluations conducted as part of the government’s pre-budget procedures. A more definitive outlook is contingent upon forthcoming […]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has made a ruling stating that payments made in a compensatory nature should not be considered as interest for the purpose of tax deduction at source (TDS) under Section 194A of the Income Tax Act, 1961. The Assessing Officer (AO) had noticed in the tax […]
The Kerala High Court has issued a directive in a writ petition, instructing the petitioner, M/s Brothers Trade Links, to approach the appellate authority under Section 107 of the Goods and Services Tax Act, 2017 (GST Act), seeking permission to rectify an error in Form GSTR-3B. The petitioner, M/s Brothers Trade Links, approached the court […]
A senior government official has indicated that the government is poised to conduct a sequence of meetings in November. The purpose is to meticulously assess and enhance various aspects of indirect taxation, especially concerning the GST. These forthcoming meetings will encompass a comprehensive review not only of the Goods and Services Tax (GST) but also […]
UltraTech Cement has announced that it has received an order from the Assistant Commissioner, CGST & C. Ex Division 3, Bhavnagar, demanding a payment of Rs. 1.14 crore for Goods and Services Tax (GST), along with interest and penalties which is equal to the demand payment. The demand is related to an alleged non-payment of […]
The Delhi High Court has upheld the decision to remove the penalty imposed for the failure to specify the specific provision of Section 271(1)(c) of the Income Tax Act under which the penalty was imposed. In this case, the respondent/assessee, Modi Rubber Ltd, provided inaccurate details regarding the disallowance of various additions made by the […]
