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The Gauhati High Court ruled that juice-based carbonated drinks should be taxed at 12% GST instead of the previously high 28% imposed by tax authorities. As a result, consumers may see a decrease in the cost of their preferred beverages. The decision arrives as a big win for X’SS Beverage, a manufacturer of carbonated juice […]
The Bombay High Court citing CBIC Notification No. 56/2023-Central Tax dated December 28, 2023, which extended the deadline for issuing show cause notices (SCNs) and orders, granted an interim stay on the garnishee notice. The State Tax Officer, Thane Division, Thane (Respondent No. 3) issued a Garnishee GST Notice in Form DRC-13 dated February 14, […]
Central GST officers have detected tax evasion of ₹1.95 trillion in 25,397 cases during the April-January period of the current fiscal year, Parliament was informed. Under the shared data in the Lok Sabha, the detected total number of GST evasion cases by the central government officers in the last 5 years was 86,711 and the […]
The CA Institute, the world’s largest accounting body, has advocated for a further reduction in the number of sections in the Income Tax Bill 2025, along with a push for simplifying its language. A 10-member delegation of the Institute of Chartered Accountants of India (ICAI) led by President Charonjot Singh Nanda met the 31-member Select […]
The Madras High Court ruled that the order of Goods and Service Tax (GST) refusing Input Tax Credit (ITC) by invoking section 17(5) of the GST Act, 2017, was set aside without pointing out the reason. The Madras High Court set aside a Goods and Services Tax (GST) order refusing Input Tax Credit (ITC) under […]
What are GSTR-2B and GSTR-3B? GSTR-2B is a system-generated statement that furnishes information about all inward supplies or purchases, including information on eligible and ineligible Input Tax Credits (ITC) for a tax period. It acts as a verification tool, auto-populated based on the GSTR-1, GSTR-5, and GSTR-6 filed via suppliers. GSTR-3B is a self-declared monthly […]
An Overview of GST and the Requirements for Registration Goods and Services Tax (GST) is a comprehensive indirect tax imposed on the supply of goods and services in India. The GST regime was introduced in 2017, which has substituted multiple cascading taxes like excise duty, VAT, and service tax, facilitating the country’s taxation system. The […]
A Special Leave Petition (SLP) has been dismissed by the Supreme Court, which was submitted via the revenue against Standard Chartered Bank for filing of TRAN-01 through another state’s Goods and Services Tax (GST) portal amid technical glitches. Revenue furnished the SLP contesting the ruling of the Telangana High Court, which kept the action of […]
Allahabad High Court, in Integra Micro Systems Private Limited vs. State of U.P., ruled in the taxpayer’s favour setting aside a GST demand order because of the procedural lapses. The case comprises a tax demand of Rs. 2.11 crore u/s 74 of the GST act emerging from an alleged incorrect Input tax credit (ITC) claim. […]
