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The Indian government enacted the Goods and Services Tax Act on March 29, 2017, which took effect on July 1 of the same year. This act stands as the singular domestic indirect tax law applicable across the country, known as the Goods and Services Tax (GST). GST is a comprehensive tax imposed on both goods […]
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 […]
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 […]
The Union Finance Minister Nirmala Sitharaman has proposed the Vivad Se Vishwas Scheme 2024 for settling disputes of income tax pending appeal. The Finance Minister suggested that the monetary limit for filing of appeals to Tribunals, High Courts, and Supreme Courts by the tax authorities concerning direct tax, excise, and service tax has been increased […]
The Income Tax Appellate Tribunal (ITAT) in Ahmedabad, in a recent ruling, determined that Tax Deduction at Source (TDS) under Section 194C of the Income Tax Act, 1961, should not be applicable to purchase expenses that were categorized as “contract expenses.” The taxpayer in question, Shubh Infra JV, operates as an Association of Persons (AOP) […]
The Madras High Court (Madurai Bench) recently made a significant ruling in the case of M/s. Tvl. Diamond Shipping Agencies Pvt. Ltd. vs. Assistant Commissioner, Tuticorin [W.P. (MD) 6874 of 2023 dated August 29, 2023]. The court approved the writ petition and ruled that an assessment order cannot be issued without serving proper GST notice […]
Recently, the State GST department sent out almost 20,000 notifications to a range of taxpayers from different industries, concentrating primarily on real estate developers, requesting explanations regarding their expenses during the 2017–18 fiscal year. GST authorities claim that this scrutiny is a result of the lack of a reliable mechanism to track suppliers’ compliance with […]
The Delhi High Court has ruled that the directors’ travel expenses were incurred for business purposes of the company. In this case, the bench of Justice Rajiv Shakdher and Justice Girish Kathpalia observed that there was no evidence presented by the Assessing Officer (AO) to establish that these expenses were of a personal nature. Consequently, […]
