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The Allahabad High Court While deciding a case relating to Input Tax Credit carried that a quasi-judicial body should furnish a chance of hearing to a person before charging obligation on them. The Division Bench comprising Justice Shekhar B. Saraf and Justice Vipin Chandra Dixit carried that as per the doctrine of audi alteram partem […]
In November gross GST collections have risen 8.5 percent to over Rs 1.82 lakh crore on higher revenues from domestic transactions. Rs 34,141 crore, is the Central GST collection, State GST at Rs 43,047 crore, Integrated IGST at Rs 91,828 crore, and cess at Rs 13,253 crore, as per the government’s data. In November Rs […]
The time extension notification on 24.04.2023 extending the time duration to pass the order u/s 73(9) and 73(10) of the Uttar Pradesh Goods and Service Tax Act, 2017 will apply solely from 31.03.2023 and not before that, the Allahabad High Court carried. Section 73 provides the authority to the proper officer to pass the order […]
The provisions for Tax Deducted at Source (TDS) under GST as specified in section 51 of the CGST Act, were initially restricted to the government entities and public sector units (PSUs). Below mentioned are the suggestions of the GST council in its 54th meeting, the Notification No. 25/2024-CT dated 9th October 2024 has been issued […]
The Central Board of Direct Taxes (CBDT) in an update for the taxpayers via the Directorate of Income Tax (Systems), has issued Notification No. 5/2024 dated October 30, 2024, obligating the submission of certain forms electronically which is listed in Appendix-II of the Income Tax Rules, 1962. The same directive applies to the needed forms […]
In October, Gross GST collection surged to 9% to Rs 1.87 lakh crore, the second highest collection ever, on the pick up in domestic sales and rectified complaints. Rs 33,821 crore, was the Central GST collection, Rs 41,864 crore, was the State GST collection, Rs 99,111 crore was the integrated IGST collection and Rs 12,550 […]
The Federation of Industrial and Commercial Organizations (FICO) called on the government to lower and streamline the Goods and Services Tax (GST) on iron and steel from 18% to 12%. FICO in a written memorandum addressed to the Union Steel Ministry and GST council stresses the requirement for a lower tax imposition to increase the […]
Considering the conflicting views of the Delhi High Court and the Madhya Pradesh High Court, the Apex Court is set to regard the problem of whether the authorities can seize cash u/s 67 of the Central Goods and Services Tax Act, 2017. The development arrived as a bench of Justices PS Narasimha and Sandeep Mehta […]
It was mentioned by the Gujarat High Court that no blocking of the credit in the electronic credit ledger is there if the available balance is not enough. The Division Bench, including Justices Bhargav D. Karia and Niral R. Mehta, was hearing a case where the taxpayer argued that the blocking of Input Tax Credit […]
