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There is no tax levied in India on the receipt by Adobe from the supply of software and automated services, the New Delhi bench of the Income Tax Appellate Tribunal (ITAT) has stated. Adobe Systems Software Ireland Ltd., the taxpayer has contested the final assessment orders issued under section 143(3) read with section 144C(13) of […]
The Finance Minister has decided to reform tax rates as long as the new tax regime is considered. It is expected to be better than the existing tax system because of the standard deduction which was not given in the earlier tax regime. Despite the debate on whether the new tax regime is much better […]
As the assessee’s non-appearance was judged to be dishonest, the Calcutta High Court recently rejected to quash and set aside the judgment reached by the Additional Commissioner, Central Goods and Services Tax (CGST), and Central Excise against the assessee. In response to the Show Cause Notice issued against the assessee according to Section 73 of […]
The purchaser would not be qualified for claiming the ITC on the subject of purchases that the seller made, who would have released its tax liability, Punjab Authority of Advance Ruling (AAR) stated. No registered individual would be eligible to get the ITC for any supply of goods or services or both until the tax […]
The non-granting of the effective hearing would be a total breach of natural justice, Gujarat High Court observed. The petitioner contested the ex-parte decision made by the Commissioner of Central GST and Central Excise, which was purportedly made without consulting the petitioner or its authorized representatives and in a flagrant breach of natural justice principles. […]
Overview of the Direct and Indirect Tax Proposals in Budget 2023 (Finance Bill 2023) presented by Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs. Key Highlights of Finance Bill 2023 for Direct Tax In Budget 2023, the Finance Minister announced a number of changes to personal income tax, including a rise in the […]
Under section 115BAC of the Income-tax Act, 1961, the concessional/New Tax Regime (NTR), which was introduced in the Union Budget 2020, gives individuals and HUF taxpayers the opportunity to pay income tax at reduced rates in exchange for giving up some exemptions and deductions. The NTR was developed to streamline the filing of income tax […]
According to the Delhi Bench of the Income Tax Appellate Tribunal (ITAT), the assessing officer was not justified in taking severe measures and rejecting audited books of accounts based only on general observations that photocopies of the bills had been supplied in place of the original bills. Anubhav Sharma, a judge, and Pradip Kumar Khedia, […]
The Telangana Authority for Advance Ruling (AAR), which is presided over by S.V. Kasi Visweswara Rao and Sahil Inamdar, decided that paper-based corrugated sheets are subject to a 12% Goods and Services Tax (GST). The matter was submitted by the applicant M/s. S S R K Plastics Private Limited, producers of paper-based corrugated sheets in […]
