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The Madras High Court in a case held that the GST obligation confirmed for non-providing of documents not asked in the SCN ( Show Cause Notice ) is not valid. The court remanded the case for reconsideration. The bench of Justice Senthilkumar Ramamoorthy noted that concerning the second issue, the tax proposal was confirmed on […]
Parliament informed that central GST officers’ bogus ITC claims detection has surged to 51% to Rs 36,374 crore in 2023-24. The Minister of State for Finance Pankaj Chaudhary has shared the information about the bogus ITC cases booked by Central Tax formations during the 2022-23 and 2023-24 fiscals. In 2022-23, the central officers have booked […]
On 22nd June, the 53rd meeting of the GST council was conducted. To refine the tax rates and service exemptions under the GST regime, various recommendations were made in the meeting. Union Finance Minister Nirmala Sitharaman addressed the meeting and deliberated on distinct proposals to facilitate GST applicability for goods and services. Key Updates on […]
The decision of the Kerala High Court in the case of Faizal Traders Pvt Ltd vs Deputy Commissioner revolves around denying a GST input tax credit (ITC) claim and pertinent penalties under the CGST/SGST Act. Faizal Traders, a registered dealer in furnishing services to Southern Railway and distributing BSNL top-up and recharge coupons, contested an […]
Common norms are drawn by the Central Board of Indirect Taxes and Customs (CBIC) towards central and state level Goods and Services Tax (GST) officials to audit banks, CBIC chairperson Sanjay Kumar Agarwal stated field officers. The same action provides better assurance about audit procedures to banks since officials would have a common audit plan […]
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 […]
The matter of Sri Rajaa Store vs State Tax Officer came before the Madras High Court regarding an assessment order on 29th December 2023. The order was contested by the petitioner stating a violation of natural justice principles. The applicant is a business functioning on slim margins and argued that their whole tax liability was […]
In this article, SAG Infotech has added the benefits and critical challenges that taxpayers may encounter while re-filing their GSTR 3B form. This form is used for reporting monthly sales and purchases to the government. The GST department has sent an advisory to the particular taxpayers for the first opportunity provided to rectify the errors […]
Various large companies that obtained the GST demand notices intend to file a petition with the appellate authority. A rise in the number of GST notices has been sent before distinct companies, particularly on account of the alleged differences in the ITC. ICICI Lombard General Insurance Company Limited, received an order from the Additional Commissioner, […]
