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The Andhra Pradesh GST AAR decided on M/s RV Hydraulic Services and their request for a tax benefit. They denied the company’s claim for a refund on the tax paid for imported machinery. The main reason for this decision was that the official document proving the import, called the Bill of Entry, was not registered […]
A majority of income tax filers wished to ease the ITRs for individuals in a simpler way to calculate the incentives and deductions and ease the TDS framework for one rate one section, as per the survey of Deloitte. Indeed Deloitte the policy survey of the income tax recommended to prevent the need to issue […]
It was revealed by Pankaj Chaudhary minister of state in the Ministry of Finance that the government has collected Rs 4792.4 crores from Goods and Services Tax (GST) applied before the education services in the FY 2023-24. Such services are not waived under GST with an 18% tax rate imposed on them under Service Accounting […]
The Group of Ministers (GoM) has the task of easing the structure of the Goods and Services Tax (GST) and for that, the meeting will be conducted on October 20 to deliberate on rate rationalization proposals pertinent to the foods, footwear, and textile items. The reviewed items are in the 12% tax bracket. Bihar Deputy […]
The Chhattisgarh High Court carried an ex-parte assessment u/s 144 of the Income Tax Act, 1961, against a taxpayer who failed to take part in assessment proceedings or describe the cash deposit source of ₹11,44,070 in his bank account. The bench Justices Sanjay K Agrawal and Amitendra Kishore Prasad remarked that under sections 68 and […]
E-way bill generation has emerged from improved compliance and stringent enforcement by GST field formations, arriving at an all-time high of 10.54 crore in August 2024, according to Goods and Services Tax Network (GSTN) information. This is the sixth occasion since the e-way bill was introduced in 2018, and the fourth consecutive time this fiscal […]
The Madras High Court in the matter of Tvl. Norton Granites & Properties Private Ltd. v. Assistant Commissioner (ST), dismissed the petitioner’s claim for a GST refund. The petitioner, Tvl. Norton Granites is involved in the KG Foundation for construction services and levied a GST of 18%. The applicant assuming the applicable GST rate was […]
The Delhi High Court in a judgment ruled that the income tax department could not refuse the refund claim of the assessee as the Tax Deducted at Source TDS is not shown in Form 26AS. The order of the department has been quashed by the court rejecting the application of the assessee to file an […]
A CA needs to have a thorough checklist before issuing and signing off any document to secure your practice and maintain the integrity of your profession. The obligation of a Chartered Accountant to issue the certificates and sign the documents is influential and sensitive. Social media trends show the cases in which the CAs faced […]
