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Various large companies that obtained the GST demand notices intend to file a petition with the appellate authority. A rise in the number of GST notices has been sent before distinct companies, particularly on account of the alleged differences in the ITC. ICICI Lombard General Insurance Company Limited, received an order from the Additional Commissioner, […]
The Chennai bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that no tax liability is there on the petitioner for the impugned flats made before July 1, 2010, that has less than 12 units or flats. The bench of P. Dinesha (Judicial Member) and M. Ajit Kumar (Technical Member) witnessed that […]
GAIL chairman Sandeep Kumar Gupta mentioned that the government should consider more stringent policy interventions if the country wishes to achieve its objective of exceeding than doubling the share of natural gas in the energy mix to 15% by 2030. The government must mandate the use of natural gas in refineries and steelmaking, and make […]
Delhi High Court while changing the retrospectively cancelled Goods and Service Tax ( GST ) registration ruled that no chance was provided to the applicant for objecting to the retrospectively cancelled GST registration. The applicant Anil Soni Properator Of M/S. Soni Sales Corp filed the writ petition against the GST registration of the applicant has […]
The same is pertinent to the ability of specific assessees to resubmit their GSTR-3B forms. At the time of process filing same was noticed that certain assessees’ returns comprised of the differences between the data that was furnished actually in the ITC claim and tax liabilities payment along with the data that was preserved in […]
On Thursday (April 4, 2024) Hero MotoCorp received a GST notice worth Rs 605 crore for the assessment years 2013-14 to 2017-18 and 2019-20. It shall be filing appeals against the orders with appellate authorities, the automaker stated. HeroMotoCorp filed for the development minutes post-closing of the stock market on Thursday, where the automaker’s stock […]
The indirect tax collection for FY24 has surpassed the revised estimates (RE) of Rs 14.84 lakh crore by “a handsome margin”, supported by a record GST mop-up, a government official expressed. Praising the measures of tax officials, CBIC chairman Sanjay Kumar Agarwal, in a letter to field officials, expressed, “I am happy to inform that […]
Is an employee of a company liable for forking the penalties concerned with the tax demands raised on the company by revenue authorities? Goods and Services Tax (GST) enforcement officials acknowledged the same at the time they punched a demand last September for a ₹3,731 crore penalty on a taxation manager and other employees of […]
India’s Finance Minister, Smt. Nirmala Sitharaman has presented distinct new income tax rule modifications in the budget 2023. There will be certain significant modifications with the start of the new fiscal year (FY 2024-25). From April 1, 2024, such revisions shall be implemented. From April 1, 2024, the corresponding changes, will add new regulations or […]
