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M/s Stellar Cold Chain Inc. asked for an advance ruling u/s 97 of the Central Goods and Services Tax (CGST) Act, 2017, and Uttarakhand State Goods and Services Tax (SGST) Act, 2017. The petitioner is in the business of cold storage in Uttarakhand, processes raw green peas into frozen peas, and furnishes storage and refrigeration […]
Discovering that the hearing notices were not duly served via the CIT(A) or the AO and resultantly the assessment order was passed ex-parte, the Kolkata ITAT asked the taxpayer to provide its correct address before the competent authority. The Bench of Sanjay Garg (Judicial Member) and Sanjay Awasthi (Accountant Member) noted that “the assessee has […]
The income tax addition of Rs. 1.61 crores has been deleted by the Mumbai Bench of Income Tax Appellate Tribunal (ITAT), because the seized documents lack information as to the date and mode of receipt of “on money.” The bench of Anikesh Banerjee (Judicial Member) and B.R. Baskaran (Accountant Member) has remarked that the entries […]
The Confederation of West Bengal Trade Associations a Traders association has written to Revenue Secretary Sanjay Malhotra asking for an amnesty scheme for Goods and service tax issues. As per the council, the small businesses could not align with the revisions that the government made to the GST via distinct amendments in the acts and […]
CBIC has stated that the Principal commissioner or commissioner-level officers could provide the directions to recover the GST dues within the said 3 months of serving the demand order. Under the GST statute, when a taxable individual does not file the amount stated under an order passed under the CGST act within 3 months from […]
Gen Assist is a next-gen chatbot specifically for complete customer support and exclusive services to clients for their tax software. The complexities while going through tax software is a tedious task and we completely understand it therefore we came up with a great idea of a Gen Assist with both subjective as well as technical […]
A notification for the process of the scrutiny of the ITR for FY 2024-25 has been issued by the Central Board of Direct Taxes (CBDT). The same motive is to increase clarity and ensure tax compliance among taxpayers. Important Key Points for New Guidelines Objective for Tax Scrutiny: As per the new norms the assesses […]
A GST SCN of Rs 288 crore for FY 2020 has been received by ICICI Lombard General Insurance Company Ltd. In the 4th quarter of FY24, ICICI Lombard General Insurance Company’s topline increased by 1.29 percent and the profit has swelled 18.89 percent YoY. The revenue increased by 3.13 percent and the profit grew by […]
In the case of the income tax refund fraud of Rs 263 crores, the Enforcement Directorate arrested an Indian businessman. On May 16, 2024, the ED, Mumbai Zonal Office arrested Rajesh Brijlal Batreja under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. An investigation based on FIR registered by CBI under various […]
