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The Competition Commission of India received a welcome relief as GST authorities dropped a demand for ₹7.08 crore in service tax. The ruling clarified that the regulator isn’t required to register for service tax, negating any liability for the tax. The breakdown of the ₹7.08 crore demand includes ₹6.78 crore for service tax, along with […]
On Wednesday, Maruti Suzuki India confirmed that the Gujarat GST authority has maintained a tax demand totalling Rs 173.9 crore, coupled with a penalty of Rs 17.4 crore on its subsidiary, Suzuki Motor Gujarat Pvt Ltd. The subsidiary intends to appeal this decision and will approach the first appellate authority to contest the order. Read […]
Generally, individuals are unaware of sources of non-taxable income while filing their income tax returns. These income sources have no tax liability and must be included in your Income Tax Return (ITR) to provide accurate proof of your financial status and claim deductions. Understanding these sources can save you time and avoid redundancy. The following […]
In response to a longstanding request from Haryana’s traders and business community to resolve pre-GST tax liabilities, Chief Minister Manohar Lal Khattar officially announced the One Time Settlement-2023 (OTS) Scheme on Sunday. Commencing from January 1, 2024, to March 30, 2024, the scheme offers businesses the opportunity to settle their pre-GST tax liabilities. The OTS-2023 […]
Once Tax Deducted at Source (TDS) is deducted then liability for non-deposit of TDS by deductor cannot be fastened on the deductee the Kolkata bench of the Income Tax Appellate Tribunal (ITAT) ruled. The taxpayer is a salaried employee employed with M/s. Falcon Tyres Ltd. at its Kolkata office and in the year received a […]
The Kerala High Court clarified that officials are authorized to use their power of arrest according to Section 69 of the Kerala State Goods and Services Act, 2017 if they have reasonable grounds to believe that an offence under Section 132 has occurred and that custodial interrogation is necessary. Section 132 (1) outlines penalties for […]
The recent ruling by the Madras High Court states that the director isn’t responsible for paying GST if it’s unclear whether the company can settle the dues during liquidation proceedings. During an inspection at SKMPL’s factory, State GST Officers seized documents leading to a show cause notice issued under Section 74 of the CGST & […]
Most of India’s employed individuals selected the traditional tax structure when filing their returns in the 2023-24 fiscal year, favouring long-term investments over the immediate cash benefits provided by the new system. According to a Policybazaar.com survey, 63% favoured the old tax regime, while 37% opted for the new one. Individual taxpayers can opt for […]
The officers are only permitted to force the assessee to pay the tax if they do not comply with the requisite process, notwithstanding that the same might be apparent that these taxes are left and liable to get paid, Delhi High Court ruled. Justice Vibhu Bakhru and Justice Amit Mahajan highlighted that the statement of […]
