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If due to any unavoidable situation the factory gets closed then it is not obligated to pay the excise duty, the Ahmedabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) cited. The Bench of Ramesh Nair (Judicial Member) and Raju (Technical Member) has marked that “the closure of the factory was not on […]
U/s 69A of Income Tax Act,1961 the Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) deleted a Rs. 14 lakh addition made by the Assessing Officer (AO). The addition was based on wrong information concerning a property transaction, where the AO incorrectly recorded the purchase price as Rs. 45 lakhs instead of the […]
The blog discusses the way the new GST registration regulations affect startups, emphasizing the benefits along with the hardships. Goods and Services Tax (GST) execution was an influential event in the economic history of India. Specifically for startups the GST has facilitated the business operation by conducting a complex network of indirect taxes into a […]
The Madras High Court held that the GST commissioner could designate the proper officers for the assessment under the TNGST ( Tamil Nadu Goods and Services Tax ) Act, 2017. The taxpayer Abhinaya Constructions contested the impugned GST orders because the commissioner of GST had no authority to charge the power to the third respondent […]
Within the specified six-month timeframe, the review of the Income Tax Act of 1961 is set to be completed CBDT Chairman Ravi Agrawal cited. In the Budget speech last month, Union Finance Minister Nirmala Sitharaman announced that the direct tax law of the country would be examined to make it easy, and the job would […]
In a recent development, the Central Board of Direct Taxes (CBDT) has issued a directive to the Income Tax department, underscoring the imperative need for “non-intrusive” monitoring of widespread cash transactions in sectors such as luxury brand sales, hotels, hospitals, and IVF clinics. This directive forms a pivotal component of the CBDT’s Central Action Plan […]
The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has annulled a show-cause notice directed at fruit vendors who are not involved in any activities subject to service tax. The bench, consisting of Judicial Member Suvendu Kumar Pati and Technical Member Anil G. Shakkarwar, noted that the show cause notice failed […]
The Gauhati High Court ruled that the State GST Authorities cannot take advantage of Notification No. 56/2023-CE, which is also otherwise ultra vires the CGST Act, 2017. Notification No. 56/2023-CE related to The bench of Justice Devashis Baruah has remarked that the GST Council has not made any suggestion to date, and despite that, the […]
Individuals who are accountable for making payments like salary, commission, interest, professional fees, rent, and other specified categories are mandated to deduct TDS (Tax Deducted at Source) before making the disbursement under the norms mentioned in the Income Tax Act. Also, it is obligatory to ensure the remittance of the TDS amount deducted to the […]
