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The Haryana Government has announced its intention to set up the Goods and Services Tax Appellate Tribunal branches in Gurugram and Hisar. This decision was communicated through a press release issued in conjunction with the inauguration of the One-Time settlement scheme on December 31, 2023. According to the Press Release, the Following is Stated “Responding […]
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) recently ruled that Oil and Natural Gas Corporation Ltd. (ONGC) is exempt from service tax liability concerning the payment for the right to utilize natural resources. The bench, comprised of Sulekha Beevi C.S. (Judicial Member) and Vasa Seshagiri Rao (Technical Member), based its […]
Amid ongoing concerns about tax notices and the strain on High Courts due to litigation, experts in the industry emphasize the necessity of establishing Goods and Services Tax (GST) Appellate Tribunals. The imminent presentation of the sixth Union Budget by Finance Minister Nirmala Sitharaman, under the Modi government on February 1, 2024, arrives amidst the […]
Learn how can you improve your tax planning strategies with these important 5 essential habits. By using these habits, you can get a better understanding of all your income tax laws and regulations, optimize your tax deductions and credits, and reduce your tax burden. If you believe that tax planning solely revolves around settling taxes […]
A demand notice of Rs 1.45 lakh cr has been issued to nearly 1500 businesses in December by the Goods and Services tax authorities. Because of the inconsistencies in annual returns and input tax credit claims for the financial year 2018, the notices were issued as per the officials. Due to the last date for […]
The government is contemplating a heightened use of technology-driven advanced risk profiling to prevent input tax credit (ITC) fraud. They aim to halt suspected claims until undergoing thorough scrutiny. This move comes as Goods and Services Tax (GST) evasion, totalling over ₹4 lakh crore, has been unearthed in merely four years, with less than 30% […]
The Delhi High Court, in the case of Sulender Shah v. Additional Commissioner/Joint Commissioner CGST [W.P.(C) NO. 15766 OF 2023 dated December 7, 2023], instructed the Revenue Department to electronically issue the summary of Show Cause Notice and Demand using Form GST DRC-01 & Form GST DRC-02. This ruling emphasized that the summary of Demand […]
No service tax is chargeable under security agency services, the Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled. Only due to the police charging a fee, it shall not become “a person committed in the business of furnishing the security” and, hence, no service tax can be charged, the bench of […]
Nestle India and Asian Paints have joined the growing list of fast-moving consumer goods (FMCG) companies that have been sent tax notices for differences in the payment of Goods and Services Tax (GST) for the financial year 2017-18. Nestle India announced on Tuesday through an exchange filing that a tax demand notice of Rs 15.01 […]
