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The indirect tax collection for FY24 has surpassed the revised estimates (RE) of Rs 14.84 lakh crore by “a handsome margin”, supported by a record GST mop-up, a government official expressed. Praising the measures of tax officials, CBIC chairman Sanjay Kumar Agarwal, in a letter to field officials, expressed, “I am happy to inform that […]
Is an employee of a company liable for forking the penalties concerned with the tax demands raised on the company by revenue authorities? Goods and Services Tax (GST) enforcement officials acknowledged the same at the time they punched a demand last September for a ₹3,731 crore penalty on a taxation manager and other employees of […]
India’s Finance Minister, Smt. Nirmala Sitharaman has presented distinct new income tax rule modifications in the budget 2023. There will be certain significant modifications with the start of the new fiscal year (FY 2024-25). From April 1, 2024, such revisions shall be implemented. From April 1, 2024, the corresponding changes, will add new regulations or […]
The Delhi High Court observed the non-availability of digital data submitted online in the GST portal because of technical glitches and set aside the order rejecting the GST appeal. No material on record to doubt the contention of the applicant that the copy of the original order in the appeal was annexed with the appeal […]
The Delhi High Court ruled that the applicant, having unconditionally withdrawn the earlier petition and liberty being declined to the applicant, is prevented from filing the new petition asking for that relief that was before withdrawn by the applicant. The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja laid on the judgment of the […]
It is important to buy a house and is a long-term investment of money. This article gives information on different GST rates and how they apply when buying flats that are either under construction or ready to use. In these transactions, GST needs to be acknowledged. Knowing whether or not GST is applicable will affect […]
A GST notice worth Rs 23.26 cr for the FY 2018-19 has been received by Zomato from Karnataka tax authorities, the company mentioned in a regulatory filing. The order mandates a Goods and Services Tax payment of Rs 11,27,23,564, including additional interest and penalty charges totalling Rs 23,26,64,271, as per the filing. “According to Regulation […]
The Delhi High Court was directed to apply for a refund mandated under section 54 of the Central Goods and Service Tax ( CGST ) Act, 2017 for a refund of GST paid. The court removes the period between 19.01.2024 and the date of judgment for limitation. The applicant, Pedersen Consultants India Pvt Ltd, asks […]
The Rajasthan High Court, Jaipur Bench, ruled that issuance of summons is not initiation of proceedings referable to under Section 6(2)(b) of the CGST Act. The bench of Justice Pankaj Bhandari and Justice Shubha Mehta noted that the extent of Section 6(2)(b) and Section 70 of the CGST Act is different and distinct, since the […]
