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Goa CM Pramod Sawant has been selected to conduct a special GOM that will concentrate on exploring the revenue generated from GST. This determination was made during the 55th GST Council meeting, which was held on 21st December, 2024 in Jaisalmer, Rajasthan. The GST council chose that the group ought to be reorganized to sufficiently […]
The Income Tax Department, in its updated release, states that more than 9.11 crore registered users have submitted their income tax returns for FY 2024-25 as of February 28, 2025. This figure is significant, considering that the total number of registered users stands at 13.96 crore, meaning that over 65% of registered users have filed […]
The Hon’ble Madras High Court of Madurai Bench in the case of M/s Modern India Products v. The Assistant Commissioner of Customs House IGST Section & Ors. [Writ Appeal (MD) No. 1559 of 2021 dated February 21, 2025], has permitted the refund claim via the taxpayer of the Integrated Goods and Services Tax (“the IGST”) […]
The Dehradun Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the rejection of a tax exemption registration under Section 12AB of the Income Tax Act, 1961, and ordered a fresh hearing. The Uttarakhand Civil Aviation Development Authority is a taxpayer engaged in developing tourism infrastructure, constructing helipads, and conducting emergency rescue operations […]
In Haryana, the Gross GST revenue increased by 20 per cent to Rs. 9,925 crore in February 2025 from Rs 8,269 crore in the same month of last year, an official release stated. In the collection of Goods and Services Tax (GST), the Excise and Taxation Department, Haryana, has achieved significant growth. Gross GST revenue […]
In February 2025, Goods and Services Tax (GST) revenue collections increased by 9.1%, reaching Rs. 183,646 crore, primarily driven by a robust double-digit growth in revenue from domestic sources. GST on a gross basis from domestic sources, which is directed to the transactions within the country, has surged to 10.2% to Rs 1,41,945 crore while […]
In India, the Goods and Service Tax (GST) was introduced for diverse assessment provisions. The tax collection and legislation process. The provisional attachment of bank accounts u/s 83 of the CGST Act 2017 is one of the most controversial parts of GST enforcement. The same blog tries to look into the statutory framework that regulates […]
The Ministry of Finance issued Notification No. 15/2025, on February 10, 2025, informing the approval of Bhaikaka University, Anand, Gujarat (PAN: AAGAB9280N) u/s 35(1)(ii) of the Income Tax Act, 1961. This recognition permits the university to authorize income tax benefits associated with scientific research. As per the notification, the donations being made to Bhaikaka University […]
Filing an Income Tax Return (ITR) post deadline but before prosecution does not remove the obligation for the offences u/s 276CC of the Income Tax Act, 1961, Apex court held. The petitioner Vinubhai Mohanlal Dobaria, contested a ruling of the Gujarat High Court that carried the Chief Commissioner of the income tax’s rejection of his […]
