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A new ‘GSTN e-Services’ app, has been introduced by the Goods and Services Tax Network (GSTN) and is on the Play Store, which has the purpose of facilitating tax compliance for traders, businesspersons, and merchants. The same app permits the users to track the history of transactions linked to their GST Identification Number (GSTIN). Through […]
It was carried by the Kerala High Court that the initiation of an inquiry or the summons issuance u/s 70 of the CGST Act could not be regarded to be the initiation of proceedings for the objective of section 6(2)(b) of the CGST Act. The Bench of Justice Gopinath P. noted that the term ‘initiation […]
A State Bank of India (SBI)-led committee to motivate the co-lending between commercial banks and non-banking financial companies (NBFCs) has suggested removing the 18% GST. As per the source, the SBI-led co-lending committee has furnished the report before the finance ministry where it suggested that no GST is to be levied on the co-lending related […]
The Madras High Court in a ruling established a 150% penalty levied u/s 16(2)(d) of the Tamil Nadu General Sales Tax Act, 1959 (TNGST Act) for sales/purchases suppression despite removing speculative additions. The petitioner, Ruckmani Electricals, is a registered dealer under the Tamil Nadu General Sales Tax Act, 1959 (TNGST Act). On 13.12.2000, an inspection […]
To rationalize GST rates the ministerial-level committee has been made that furnishes a relief before the consumers. It is anticipated that the GST rates on distinct medicines, insurance, and tractors shall be reduced to 5% in the next month. At present there is a 12% or 28% GST on tractors as per their classification. The […]
The Central Goods and Services Tax (CGST) Act has introduced a new section 128A, to decrease the tax loads and proposes relief for the assessees towards tax obligations made between July 1, 2017, and March 31, 2020. This amendment permits people with tax obligations to settle their debts without facing extra interest or penalties, as […]
The Patna High Court, the demand order u/s 73(10) of the GST ( Goods and Services Tax ) Act should be issued within 3 years from the filing date of the annual return and not the extended due date. The bench of Chief Justice K. Vinod Chandran and Partha Sarthy carried that the extension given […]
The Madhya Pradesh High Court carried that Goods and Services Tax (GST) authorities cannot invoke penal provisions of the Indian Penal Code (IPC) when the alleged offence comes within the GST Act [Deepak Singhal v. Union of India and Others]. A Bench of Justices SA Dharmadhikari and DV Ramana quashed criminal proceedings initiated against a […]
The Madras High Court held that the Goods and Services Tax ( GST ) Department must verify the correctness of tax returns before prompting action u/s 73 of the Tamil Nadu Goods and Services Tax ( TNGST ) Act, 2017. Therefore, the court set aside the demand order. A writ petition has been filed by […]
