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In a significant development for regulatory authorities, the Supreme Court has affirmed the Delhi High Court’s decision stating that the fees charged by the CERC and the DERC for electricity supply, the granting of electricity distribution licenses, and other related annual fees are exempt from Goods and Services Tax (GST). This ruling provides clarity on […]
The Madras High Court has ruled that the interest on delayed GST payments shall be calculated based on the date the tax amount is deposited, even if the actual debit occurs later during the filing of the GSTR-3B form. The interest amount shall not be credited to the electronic cash ledger. The imposition of interest […]
A cash credit account cannot be treated as the property of the account holder, which can be considered u/s 83 of the GST Act, the Bombay High Court mentioned. The Division Bench of High Court Justices Jitendra Jain and M.S. Sonak noted that the phrase ‘including bank account’ follows the phrase “any property” shall be […]
For processing pending returns filed under section 139 of the Income Tax Act, 1961, for the assessment year 2023–24 (AY 2023–24), the Central Board of Direct Taxes (CBDT) has authorised additional time. This may result in long-awaited refunds or income tax demand notices being issued to taxpayers over the coming months. What Has CBDT Mentioned? […]
Under Goods and Services Tax (GST), the proper officer should cite the pertinent facts and the basis for the decision in their final order, even when the taxpayer is unable to answer to the Show cause notice, the Allahabad High Court ruled. A writ petition has been furnished by M/s Shakil Ahmad Security Agency before […]
The Goods and Services Tax Network (GSTN) has announced that the launch of a new feature allowing detailed reporting of invoices in Form GSTR-7 has been delayed. This postponement is due to some technical difficulties they are experiencing while developing and testing the system. According to the official advisory on postponement of the invoice-wise reporting […]
The Allahabad High Court stated that taxpayers must download the complete GST E-way Bill, including Part B, for transactions conducted after April 2018. In M/s. Varun Beverages Limited vs. State of U.P. and 2 others, M/s. Falguni Steels vs. State of U.P. and others, and others, Justice Rohit Ranjan Agarwal, determining the earlier ruling of […]
The Allahabad High Court, relying on the Supreme Court’s decisions in Vaibhav Goyal & Another vs. Deputy Commissioner of Income Tax & Another, ruled that the claims of the Goods and Services Tax Department are restricted after the approval of the resolution plan by the National Company Law Tribunal (NCLT). In the case of Vaibhav […]
The Delhi High Court has recorded the ‘harrowing experience‘ of a widow being required to seek a GST refund from the tax department. The firm’s GST registration, owned by her now deceased husband, was cancelled on his death. Though his widow asked for a refund of Rs 10,45,793 in the electronic cash ledger of the […]
