Clipped from: https://www.taxscan.in/statement-made-during-investigation-before-central-excise-officer-not-reliable-unless-examined-as-witness-cestat-sets-aside-penalty-imposed/448073/ The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that statement made during investigation before a central excise
Category: GST
👌👌👌👌👌RBI’s ‘TReDS’ platform bridging $600 bn funding gap for smaller firms | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/rbi-s-treds-platform-bridging-600-bn-funding-gap-for-smaller-firms-124102201091_1.html Trade Receivables Discounting System (TReDS) introduced about a decade ago by the Reserve Bank of India has seen the engineering company’s cost of
GST collection falls, exports drop: Is India’s economic growth slowing? | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/gst-collection-falls-exports-drop-is-india-s-economic-growth-slowing-124102000732_1.html The index of industrial production (IIP), which tracks the output of eight core industries, such as coal, oil, and electricity, was negative in
👌👌👌👌👌 Invoice Management System may add compliance for GST assesses, say tax experts – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/invoice-management-system-may-add-compliance-for-gst-assesses-say-tax-experts/article68775504.ece First GSTR-2B based on IMS to be generated for October on November 14. The effort to enhance Input Tax Credit (ITC) ecosystem through Invoice Management System
The CGST rules: Helpful amendments, court decisions for exporters | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/the-cgst-rules-helpful-amendments-court-decisions-for-exporters-124101300647_1.html CBIC had issued its circular prescribing the procedures for the payment of IGST and compensation cess (CC) along with interest by the importers
👌👌👌👌👌👌👌Reverse Charge Mechanism in GST Regime with Chart
Clipped from: https://taxguru.in/goods-and-service-tax/reverse-charge-mechanism-gst-regime-chart.html Complete provisions of Reverse Charge Mechanism (RCM) under GST with updated Chart of Goods and ServicesArticle contains provisions related to Statutory Provision of
👌👌👌👌👌Granting opportunity to cross examine essential as addition based on 3rd party statement: ITAT Bangalore
Clipped from: https://taxguru.in/income-tax/granting-opportunity-cross-examine-essential-addition-based-3rd-party-statement-itat-bangalore.html Smt. Rekha Ganesh Vs ACIT (ITAT Bangalore) ITAT Bangalore held that granting an opportunity to cross examine essential when addition is made on
👌👌👌👌👌👌👌Intricacies of Section 74 to initiate Proceedings Under GST Law
Clipped from: https://taxguru.in/goods-and-service-tax/intricacies-section-74-initiate-proceedings-gst-law.html Summary: Under GST law, Sections 73 and 74 of the CGST Act govern proceedings for unpaid or short-paid taxes, erroneous refunds, or wrongful
👌👌👌👌👌Input Tax Credit when Output supply is an Exempt Supply/ Supply under RCM
Clipped from: https://taxguru.in/goods-and-service-tax/input-tax-credit-output-supply-exempt-supply-supply-rcm.html Summary: Input Tax Credit (ITC) rules, under Section 17 of the GST Act, address how credits should be managed when goods or services are
👌👌👌👌👌Common Time Limit for GST Demand Notices & Orders , Regardless of Fraud or Misstatement
Clipped from: https://taxguru.in/income-tax/common-time-limit-gst-demand-notices-orders-fraud-misstatement.html Common time limit for issuing demand notices and orders, regardless of whether the case involves fraud, suppression, or willful misstatement under GST Introduction:
👌👌👌Personal Hearing Mandatory U/s. 75(4) Before Passing of Orders: Allahabad HC
Clipped from: https://taxguru.in/goods-and-service-tax/personal-hearing-mandatory-section-754-passing-orders-allahabad-hc.html Summary: In the case of M/s. Eveready Industries India Limited v. State of UP, the Allahabad High Court addressed the requirement of personal hearings under
Summary of show cause notice cannot substitute requirement of notice u/s. 73: Gauhati HC
Read more at: https://taxguru.in/goods-and-service-tax/summary-show-notice-substitute-requirement-notice-u-s-73-gauhati-hc.htmlCopyright © Taxguru.in Passing of ex-parte order without considering merits of case unjustified: Matter restored
👌👌👌Passing of ex-parte order without considering merits of case unjustified: Matter restored
Clipped from: https://taxguru.in/income-tax/passing-ex-parte-order-merits-case-unjustified-matter-restored.html Ambika Prashad Vs ITO (ITAT Chandigarh) ITAT Chandigarh held that passing of an ex-parte order by CIT(A) without considering the merits of the
👌👌👌👌👌Challenges faced by taxpayers due to inefficiency by GST department
Clipped from: https://taxguru.in/goods-and-service-tax/challenges-faced-taxpayers-due-inefficiency-gst-department.html Summary: India is positioning itself as a business-friendly destination, but inefficiencies in its tax administration present significant challenges for taxpayers. Despite initiatives like Make
👌👌👌Advisory on Validity of GST Notices/Orders Without Digital Signatures
Clipped from: https://taxguru.in/goods-and-service-tax/advisory-validity-gst-notices-orders-digital-signatures.html On September 26, 2024, an advisory was issued regarding the validity of documents such as Show Cause Notices (SCNs) and Orders issued by
👌👌👌👌👌Service of Notice Under GST Law: Key Requirements
Clipped from: https://taxguru.in/goods-and-service-tax/service-notice-gst-law-key-requirements.html Section 169(1) of the CGST Act, 2017 outlines the methods through which notices can be served by the department, such as personal delivery,
A Single SCN cannot be issued for multiple tax periods: Karnataka HC
Clipped from: https://taxguru.in/goods-and-service-tax/single-show-notice-issued-multiple-tax-periods-karnataka-hc.html Veremax Technologie Services Limited Vs Assistant Commissioner of Central Tax (Karnataka High Court) Summary: In Veremax Technologies Services Limited vs Assistant Commissioner of Central Tax,
GST officers detect 10,700 bogus firms, over Rs 10K crore evasion | India News – Business Standard
Clipped from: https://www.business-standard.com/india-news/gst-officers-detect-10-700-bogus-firms-over-rs-10k-crore-evasion-124092400519_1.html Speaking at an Assocham event, Shashank Priya also said that in future, the tax authorities may also put certain restrictions on new taxpayers
👌👌👌👌👌👌👌GST on Real Estate Sector: Key Rules and Rates
Clipped from: https://taxguru.in/goods-and-service-tax/gst-real-estate-sector-key-rules-rates.html Summary: The implementation of GST in India has significantly impacted the real estate sector, with varying tax rates based on the type of property
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