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The Madras High Court in a ruling, set aside the demand order on Rs. 2 lakhs pre-deposit condition. The court witnessed that GST (Goods and Services Tax) returns were not filed and the taxes were not filed at the time of the COVID period due to numerous reasons. The applicant, Nagoorar Enterprises claimed that he […]
On 22nd June, the 53rd meeting of the GST council was conducted. To refine the tax rates and service exemptions under the GST regime, various recommendations were made in the meeting. Union Finance Minister Nirmala Sitharaman addressed the meeting and deliberated on distinct proposals to facilitate GST applicability for goods and services. Key Updates on […]
The Income Tax Assessment Order, remarking that no order can be passed in the name of a non-existent entity has been quashed by the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ). The issue at hand was whether the assessment made in the name of a company that did not exist at […]
GSTN notified the incorporation of the GST e-way bill 2 Portal by NIC on June 1, 2024, through an issue advisory on May 28, 2024. Accessible at (https://ewaybill2.gst.gov.in), this portal shall function in parallel with the main E-Way Bill portal (https://ewaybillgst.gov.in), ensuring high availability and quick synchronization of e-way bill details. The new portal keeps […]
Services furnished via Indian information technology (IT), marketing, and consulting companies to foreign clients might not always draw integrated goods and services tax (IGST) if a ruling by the Authority for Advance Rulings’ (AAR’s) Telangana Bench becomes a precedent. In the case of referral services furnished under the Hyderabad-based Center for International Admission and Visas […]
A new feature has been introduced by the income tax department within the Annual Information Statement (AIS) to enable assessees to track the status of the information confirmation process. The same development has the objective of increasing the clarity and preciseness in tax reporting by furnishing the assessees with insights into their financial transactions that […]
A Division Bench of the High Court of Telangana has explained that the GST Authority does not have the authority to issue orders for the insertion of a negative balance in the credit ledger of assessees. A writ petition was filed by Laxmi Fine Chem against the Assistant Commissioner contesting the blocking of input tax […]
A Goods and Services Tax ( GST ) demand order has been set aside by the Madras High Court specifically addressing a difference in Reverse Charge Mechanism ( RCM ) liability. The court regarded the petitioner’s argument for the accidental errors in filing GSTR 3B returns, prompting a remand of the matter for further consideration. […]
The problem of unsigned orders in tax matters arrived under scrutiny in a case before the Telangana High Court. The order of the Assistant Commissioner has been contested by the applicant under the CGST/TGST Act, 2017 quoting its voidness as of lack of signature. Let’s get into the insights of the detailed analysis of the […]
