Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Central Board of Indirect Taxes, Ministry of Finance to acknowledge extending the advantage of time extension to file a petition under section 107(1) of the Central Goods and Services Act, 2017 to orders passed under Section 129 and Section 130 of the Act, Allahabad High Court rendered. On 2nd November 2023, the Central Board […]
Section 16(4) of the Goods and Services Tax (GST) Act is the attractive provision permitting assessees to avail the ITC lessening the cascading effect that is in the VAT regime which came with the influential catches and setbacks levied in the form of the conditions to be fulfilled transferring the vested ITC nature to a […]
Patna HC’s Order for M/s Prince Sanitation Gandhi Path
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) clarified that failing to deposit long-term capital gains (LTCG) into a capital gain account scheme does not warrant disallowance of deduction under Section 54 of the Income Tax Act. Saktijit Dey (Vice President) and M. Balaganesh (Accountant Member) took a meticulous approach in addressing the matter. […]
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 Delhi High Court has upheld the decision to remove the penalty imposed for the failure to specify the specific provision of Section 271(1)(c) of the Income Tax Act under which the penalty was imposed. In this case, the respondent/assessee, Modi Rubber Ltd, provided inaccurate details regarding the disallowance of various additions made by the […]
The KGST Department has recently issued a circular no. 16/2023, under its authority in accordance with Section 168 of the Kerala State Goods and Services Tax (KSGT) Act, 2017 to establish a standardized issuance of notices under Sections 73 and 74. These sections deal with the determination of tax liabilities, where Section 73 applies to […]
The assessing officer who has issued a show cause notice under Section 274 read with Section 271(1)(c) of the Income Tax Act,1961 is defective/invalid since the same does not explicitly convey to the taxpayer about the certain fault/charge the taxpayer would have proceeded for impose of penalty, held by the Mumbai Bench of Income Tax […]
The Calcutta High Court overruled the order under Section 74 of the West Bengal Goods and Services Tax (WB GST) Act, 2017. The order was passed on the GST show cause notice which was uploaded by the department in a different portal not concerning to the assessee. The appeal opposing the order passed in the […]
