Powerd By SAG INFOTECH
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In organizational management, audits act as an indispensable tool to increase efficiency, ensure compliance, and drive overall effectiveness. The audit type comprises mainly systems audit and process audit. Each furnishes distinct objectives, and understanding their comparative nuances is important for companies who are asking to optimize their performance and reduce their risks. Quick to Understand […]
For the Assessment Year 2024-25 nearly 800,000 income tax returns have been filed earlier as the Central Board of Direct Taxes enabled functionalities for commonly used income tax returns from April 1 in the current year. Since the eligible taxpayer has begun using the chance to smash the last-minute rush, over 829,000 ITR had been […]
Delhi High Court in a case asked for re-adjudication when the order passed u/s 73 of the Central Goods and Services Tax Act, 2017 without furnishing a chance to clarify the response concerning the Show Cause Notice (SCN). The applicant Decolene Fibers Pvt. Ltd. filed the writ petition against the show cause notice and order […]
New trouble has emerged for Patanjali Group companies led by Baba Ramdev. Directorate General for GST Intelligence (DGGI) is comprehended to have issued two show-cause notices to Patanjali Group companies Patanjali Ayurved and Patanjali Foods. As per the sources, DGGI (Directorate General for GST Intelligence) has sent 2 SCN before Patanjali group companies Patanjali Ayurved […]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that the addition could not be deleted for the only cause that the section under which the addition is made is cited incorrectly and that it is essential to look into the merits of the case. The bench of Anikesh Banerjee (Judicial Member) and Padmavathy […]
The Madras High Court ordered a reconsideration of the case about the timely payment of Goods and Services Tax (GST) dues, especially addressing differences between Goods and Services Tax Returns (GSTR) 1 and GSTR 3B. This order complied with the observation of the court that even after recognizing the prompt payment of GST dues, the […]
As of January 31 this year, a staggering 5,44,205 petitions awaited resolution within the norms of the Income Tax Department, with an additional 63,246 declining at different levels of appellate authorities including Income Tax Appellate Tribunals (ITATs), High Courts, and the Supreme Court. Despite the Central Board of Direct Taxes (CBDT) obligation to expedite proceedings, […]
Duplication Found in Turnover Reconciliation and GSTR 3B and Form 26AS: Madras HC sets aside GST Demand Order on Pre-deposit Condition The Petitioner, Vadim Infrastructure Private Limited, is in engineering and construction services, contested the assessment order on 31.12.2023 and is assailed on the grounds of violation of principles of natural justice. The major observations […]
The Delhi High Court has awarded relief of as low as 5% Integrated Goods and Service Tax (IGST) towards importing dialysis machines by Fresenius Medical Care India Private Limited (FMC India). Dialysis machines covered under HSN Codes 9018 and 9031 are exposed to be taxed at 5%, essentially awarding a significant rebate of 7% on […]
