Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Allahabad High Court has suppressed the Commercial Tax Tribunal’s judgment for non-compliance with Rule 63(5) of the U.P.V.A.T. Rules, 2008. The bench of Justice Abdul Moin has followed that according to Rule 63(5) of the U.P. V.A.T. Rules, 2008, a judgment and petition will be in writing and shall mention the points for determination, […]
Before Finance Minister Nirmala Sitharaman, Real estate developers have made a representation to revise the circular that levies an 18% GST on the corporate guarantees provided via concerned parties. “According to developers, GST at 18% rate should apply to either the actual consideration or 1% of the guaranteed amount, choosing the lesser of the two,” […]
The Calcutta High Court upheld the constitutionality of Section 16(4) of the Central Goods and Services Tax Act, 2017, emphasizing the importance of adhering to time limits for filing Goods and Services Tax Returns over the legal right to claim Input Tax Credit (ITC). The order in appeal on 04.01.2023 is been contested by the […]
The Honorable Delhi High Court, in the matter of M/s. Indian Herbal Store Pvt. Ltd. vs. Union of India [W.P.(C) 9908/2021 and W.P.(C) 9912/2021 dated September 15, 2023], granted the writ petition and ruled that Rule 89(4)(C) of the Central Goods and Services Rules, 2017 (“the CGST Rules”) should not be applied retrospectively. The Honorable […]
The Income Tax Department lacks the authority to impose late fees and interest related to Tax Deduction at Source (TDS) as per the notification under Section 200A of the Income Tax Act, 1961, before the amendment of the law, the Income Tax Appellate Tribunal (ITAT), Jodhpur bench, has ruled. In this case, Dinesh Infrastructure Private, […]
On October 7th, 2023, the 52nd Goods and Services Tax (GST) Council Meeting, presided by the Union Finance Minister, was conducted. The minister was accompanied by Revenue Secretary Sanjay Malhotra, State Finance Minister Pankaj Chaudhary, CBIC chairman ..etc. The Council has proposed an alteration to sub-rule (2) of Rule 159 within the CGST Rules of […]
Recently, the Bombay High Court has ruled that the amendment made in accordance with section 54 of the Income Tax Act, 1961, doesn’t have a retrospective impact on limiting investments in India. This amended provision takes effect from April 1, 2015, and will be applicable in the future, but not before the amendment date. The […]
The Central Board of Direct Taxes (CBDT) has introduced modifications in the income tax regulations concerning the assessment of benefits related to employer-provided rent-free or discounted housing for employees. These amendments, effective from September 1, 2023, will result in reduced tax liability for employees receiving rent-free accommodations, which will be subject to higher take-home pay. […]
The Central Government has released a notification regarding the amendment of Rule 11AA of the Income Tax Rules, 1962. The Rule concerned with the requirements for an institution or fund approval under Section 80G of the Income Tax Rule, 1962. The Central Board of Direct Taxes (CBDT) announced a few Rules amending the Income Tax […]
