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On December 13th, 2023, the Central Board of Indirect Taxes and Customs (CBIC) issued a directive instructing officials that the application of section 74(1) of the CGST Act for issuing show cause notices should only occur when investigations reveal concrete evidence of fraud, deliberate misrepresentation, or withholding of facts to avoid tax. Furthermore, this evidence […]
The Kerala High Court in the case of Chukkath Krishnan Praveen Vs. The state of Kerala permitted the rectification of GSTR-3B because GST ITC claimed as IGST rather than CGST and SGST. As Per the Official Judgment Ms N S Shamila learned Counsel for the petitioner, and Ms Jasmin M M learned Government Pleader for […]
The employer of the applicant or taxpayer who has looses to perform his duty to deposit the deducted tax with the dept could not be penalized, Delhi High Court ruled. The same shall always be open for the revenue to move forward against the applicant’s employer for the recovery of the deducted tax. The bench […]
The High Court of Madhya Pradesh recently invalidated a show cause notice and demand order given against Raymond Limited, stating that Section 73 of the CGST Act allows the notice a minimum of 30 days to provide a “reasonable opportunity” to respond. Although Section 73 does not specify a time frame for the response, it […]
The Delhi High Court has ruled that the Tax Deducted at Source (TDS) by the employer cannot be reclaimed from the person from whom it was deducted, as stated in section 205 of the Income Tax Act, 1961. Vishesh Khanna, the person who filed a Writ of Mandamus, requested that Respondent No. 1 cancel the […]
Nearly Rs 1600 cr as GST has been paid by the Indian subsidiaries of as many as 80-90 multinational corporations (MNCs) together on the claimed services from the offshore pertinent companies. In the former months, the taxes filed via MNCs are towards the transactions incurred between FY18 and 22. Before distinct MNCs in the past […]
Here are three important changes under GST law that have come into effect from 20th October 2023 that will affect your input tax credit availability. Cab Rental Services for Passengers In the services, the condition has been inserted via renting any motor vehicle designed to carry the passengers in which the fuel cost is been […]
When comparing the data shown in GSTR 9/9C Vs GSTR 3B, the council has initiated issuing the notices and has urged for the data. This blog acknowledging different changes in the GST law has the objective of furnishing clarity on the filing of the annual returns (Form GSTR 9) and the reconciliation statement (Form GSTR […]
The Finance Ministry’s recent notification stated that the GST mechanism for corporate guarantees will apply prospectively. Following the GST Council’s suggestions dated October 7, a corporate guarantee provided by a parent company to its subsidiary for a bank loan will be subject to an 18% GST. This recommendation was made during the GST Council meeting […]
