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GST council furnished the notices before 20 general insurance companies with the functionality in Special Economic Zones (SEZs), asking for Rs 2000 crore in unpaid dues pertinent to the services furnished before the employees of industrial units within these zones and their families. The companies that have received show-cause notices from the Directorate of GST […]
The Directorate General of Goods and Services Tax Intelligence (DGGI) has sent show cause notices to 10 foreign airlines functioning in the country, for alleged non-payment of tax amounting to Rs 10,000 crore, as per the officials. They contain British Airways, Lufthansa, Oman Air, Emirates, and Singapore Airlines, they added. The notices, transmitted over the […]
Indian businesses are facing difficulties in complying with GST, particularly concerning self-invoicing and the reverse charge mechanism (RCM) for services obtained from overseas companies. To address such concerns the government via issuing circulars is taking measures but the speed of such development is not dynamic. Infosys has obtained partial relief from the demands raised by […]
The Punjab & Haryana High Court while indicating that the scheme of faceless assessment is applicable from the phase of SCN under section 148 as well as 148A, held that notice under section 148 could not be issued via the jurisdictional assessing officer post introduction of the faceless assessment scheme. As SCN has been issued […]
Various foreign airlines, along with Lufthansa, Emirates and British Airways, have refused to furnish the information asked via the Indian Goods and Services Tax (GST) authorities related to ongoing investigations, as per the sources. The director general (DGGI) of GST had asked for information related to a probe into the valuation of services given via […]
Between the head offices and local entities of foreign airline operators from GST, India can waive the supply of services. GST notices have been received from foreign airlines with offices in India over the past few months for not filing the tax on the import of services via Indian entities from their head offices. Under […]
A GST SCN of Rs 288 crore for FY 2020 has been received by ICICI Lombard General Insurance Company Ltd. In the 4th quarter of FY24, ICICI Lombard General Insurance Company’s topline increased by 1.29 percent and the profit has swelled 18.89 percent YoY. The revenue increased by 3.13 percent and the profit grew by […]
A judgment has been furnished by the Income Tax Appellate Tribunal (ITAT) Delhi on 17th May 2024, in the matter of Saroj Sangwan Vs Income Tax Officer (ITO), addressing critical issues surrounding Section 148 of the Income Tax Act. The same case, related to the AY 2011-12, examines the procedural virtue and jurisdictional control of […]
The Madras High Court in a ruling held that a new SCN u/s 148 of the Income Tax Act, 1961 will be issued for the problems not raised before. The department was asked to provide a fresh order u/s 148A(d) after regarding the reply of the taxpayer. A Single bench of Justice Senthilkumar Ramamoorthy held […]
