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Finance Minister Nirmala Sitharaman, on Monday, said that around one lakh notices have been sent by the Income Tax Department in relation to the cases of not declaring or underreporting income. Without providing further details about the department’s move, she added that all these cases are of old returns filed 4-6 years earlier and the […]
In a recent decision, the Gauhati High Court made it clear that railways can not refuse GST reimbursement due to pricing variations just because the payment of output tax was carried out through an electronic credit ledger and using Input Tax Credit (ITC) under the GST Act. The single-judge bench, chaired by Justice Devashis Baruah […]
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 […]
The Bombay High Court took a case for cognizance on Monday regarding the use of coercive actions by GST authorities to collect taxes from taxpayers. The respondents argued in court that tax payments have already been paid voluntarily, and the court confirmed that the petitioner can ask for a refund if they have already paid […]
The Bombay High Court has ruled that the IGST (Integrated Goods and Services Tax) paid on zero-rated supplies will be refunded to the petitioner along with 7% interest. A two-member bench consisting of Justice G.S. Kulkarni and Justice Jitendra Jain have determined that the petitioner has the right to claim a refund for the IGST […]
The Central Board of Indirect Taxes and Customs (CBIC) has introduced an online feature that allows taxpayers to conveniently track the status of their refund applications in real time. This initiative aims to provide a more efficient and transparent process for taxpayers. To facilitate the tracking of refund applications, different colours have been assigned to […]
Since the plan of the tax authorities is deep dive into their business exercise to fetch the potential of a raft tax associated irregularities and thus the insurance companies might face GST audits. On the basis of fictitious invoices created by their channel partners and intermediaries, several insurance businesses are being investigated for improperly claiming […]
The Punjab and Haryana High Court rendered that the Goods and Service Tax (GST) Department refund the amount recovered via DRC-03 when a show cause notice (SCN) was furnished. The applicant, M/s Samyak Metals Pvt. Ltd, asking the writ in the nature of mandamus rendering that the GST Department refund the amount, which was recovered […]
For the case of the GST refund application due for 9 months, Rajasthan High Court decided to refund the application within 60 days for the Goods and Services Tax (GST). Despite the applicant has provided an application that claims for the refund previously dated 10.08.2019 the limited grievance circulated via the applicant, to date the […]
