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The New Delhi CESTAT ruled that when a taxpayer fails to fulfil their tax obligation under the bona fide belief that tax is not required to be paid, no penalty shall be imposed. The Bench of Dr Rachna Gupta (Judicial) and Ms Hemambika R. Priya (Technical) has noted that “even if payment is made through […]
As the end of the financial year approaches, businesses need to ensure that they are complying with their Goods and Services Tax (GST) obligations. The GST system can be complex, with various rules and regulations that need to be followed, which is why having a checklist can be incredibly helpful. In this article, we will […]
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 government, in relief to Goods and Services Tax (GST) payers, seems to have revised the rules of Central GST (CGST), permitting the recipients of goods and services up to two months to accept or reject a credit note and adjust the Input tax credit as per that. The taxpayers currently using the Invoice Management […]
The Karnataka High Court has directed the state tax department to refund the GST Input Tax Credit (ITC), ruling that it cannot be denied solely due to the non-issuance of a credit note by the other party to the contract. It was contended by the revenue department that the order of the Single Judge whereby […]
A writ petition is been addressed by the Delhi High Court which has been submitted via DLF Home Developers Limited contesting a Show Cause Notice (SCN) issued by the Sales Tax Officer. The same matter comprises a dispute for the Input tax credit (ITC) reversal on non-business transactions and exempt supplies. It was observed by […]
It was said by the Delhi High Court that if a Show Cause notice is quashed via a higher authority on one problem then it is not directed that the additional problems raised in the SCN are not obligated to be adjudicated. The bench of Justices Prathiba M. Singh and Dharmesh Sharma observed a matter […]
For allegedly availing ineligible Input Tax Credit (ITC), Vedanta Ltd. has been slapped with Goods and Services Tax (GST) penalties totalling ₹141.36 crores. The Mumbai-listed company has received two GST notices demanding the tax amount, applicable interest, and penalties. GST Penalties To contest these orders Vedanta has announced the plans citing that it stayed hopeful […]
Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha that Central GST officers detected tax evasion of over ₹1.88 lakh crore between April and December 2024. The evasion was comprised of matters of the bogus Input tax credit that was discovered across 72,393 cases in the period. The authorities incurred 132 arrests and […]
