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GST authorities are developing a system to address tax and registration concerns related to shared warehouses used by e-commerce companies, where multiple suppliers store their goods for final delivery, an official stated. For warehouses, the problem of taxation has arisen due to multiple suppliers geo-tagging the same warehouse as their ‘additional place of business’ under […]
Final Assessment order Passed U/S 144C not appealable when the Assessee has not filed an objection against the draft assessment order: ITAT Hyderabad ITA No.184/Hyd/2024 All Case Summary: The taxpayer Skybridge Solutions Private Limited is a software development and services company. The taxpayer has furnished the ITR (Income Tax Return) for the financial year 2020-21 […]
A service tax is liable to get paid on buses meant for carrying passengers and cannot be called a means of transport of goods, the Delhi Bench of Customs, Excise and Service Tax Appellate (CESTAT) ruled. The bench of Binu Tamta (Judicial Member) and Hemambika R. Priya (Technical Member) noted that on the applicability of […]
A 48-year-old IRS officer with the Income Tax Department fell victim to an online reward points fraud, resulting in a loss of Rs 48,902. The victim, Nishi Padma, reported the incident to the Central Division Cyber Crime Police, leading to the registration of a case under various sections of the Information Technology Act, 2000. Must […]
On Friday (May 17) the Supreme Court kept a rule issued by the Institute of Chartered Accountants Of India (ICAA) restricting Chartered Accountants from accepting more than the “specified number of tax audit assignments” (at present, the upper limit is set at 60) in a fiscal year. A bench of Justices BV Nagarathna and Augustine […]
The penalty u/s 271(1) (c) of the Income Tax Act, 1961 is deleted by the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) concluding there was no providing of incorrect particulars of income or a deliberate attempt to conceal the income. The present appeal has emerged on the fact that the assessee- […]
The Delhi High Court asked the appropriate officer to expedite the refund process for a petitioner who asked the Court to direct the refund of a sum of Rs.81,79,52 u/s 54 of the Central Goods and Services Act,2017. The applicant, AJ Flight Reservations Pvt. Ltd., represented by Advocate Vineet Bhatia, had filed a refund claim […]
The Delhi High Court in its judgment addressed the matter of Mudita Express Cargo Private Limited versus the Commissioner, State Goods and Services Tax, Delhi & Another. A tax demand of Rs 2.4 crore against the petitioner has been quashed by the court citing inadequate reason for rejecting their response to the Show Cause Notice […]
In getting licenses in the Goods and Services Tax (GST ) regime, the Federation of Indian Micro and Small & Medium Enterprises (FISME) and Tamil Nadu Chamber of Commerce show the issues faced by online micro, small and medium enterprises (MSMEs) and sellers in Tamil Nadu The industry body in a statement quoted that in […]
