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In May 2025, India collected ₹2.01 lakh crore in Goods and Services Tax (GST). This amount is 16.4% higher than the ₹1.72 lakh crore collected in May 2024, according to the Ministry of Finance. This increase shows that the country’s economy is growing and more businesses are paying taxes. Surging by 12.6 per cent, Rs […]
Section 143(1)(a) of the Income Tax Act, 1961 (the 1961 Act), cannot be invoked by the Assessing Officer (AO) to disallow a claim when the issue involved such as the deductibility of employees’ contributions to EPF/ESI under Section 36(1)(va) is pending consideration before the Supreme Court, as in Checkmate Services Pvt. Ltd. vs. CIT [(2023) […]
In the country, there would be implications for the businesses, the Supreme Court kept a Gujarat High Court decision that permits the companies to makes obligatory 10% pre-deposit through the Electronic Credit Ledger (ECL), which includes accumulated input tax credit (ITC), for filing an appeal under the Goods and Services Tax law. In the case […]
As per officials, 25,009 fake firms have been detected by the Central and state GST officers who are fraudulently passing input tax credit (ITC) worth ₹61,545 crore during the assessment year 2025-26. During the A.Y. 2025–26, ending March 2025, central and state GST officers recovered ₹1,924 crore by blocking ITC and arrested 168 individuals. 42,140 fake firms […]
At the end of the year, an indication of surged economic activity, e-way bill (EWB) generation rose to an all-time high of over 12 crore in March 2025, which specifies an influential 20% rise compared to the previous month. This marks the highest number of e-way bills issued in a single month since the system’s […]
The Maharashtra Authority for Advance Ruling (AAR) determined that the supply of a Geometry Compass qualifies as a mixed supply under section 2(74) of the CGST Act, 2017. As a result, it is subject to an 18% GST, rather than being classified as a composite supply. The petitioner, Amardeep Udyog, is a partnership business that […]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT), ruling that the assessment order was not incorrect. Chandrakant Vallabhbhai Koladia has submitted his income tax return for the AY 2018-19, declaring a total income of Rs 1,23,69,720. Based on the survey, the taxpayer revealed […]
In a recent ruling, the Uttarakhand High Court expressed serious concerns over the GST department’s action of negatively blocking the input tax credit (ITC) without issuing a prior notice, questioning the legal authority for such coercive measures. “The working of the Department is startling and shocking. It is not known and incomprehensible as to which […]
The ITAT Bench in Surat, Gujarat reduced an individual’s additional tax assessment from ₹72,81,674 to just ₹2,00,000. This decision was made after recognizing the taxpayer’s home loan and the cash they had available. Jayeshbhai Becharbhai Chovatiya, a taxpayer, deposited Rs. 72,81,674 into three different bank accounts when certain high-denomination currency notes were no longer valid. […]
