https://www.business-standard.com/opinion/columns/how-the-new-tax-regime-changed-indirect-taxation-123062900855_1.html Clipped from: https://www.business-standard.com/opinion/columns/how-the-new-tax-regime-changed-indirect-taxation-123062900855_1.html There used to be a local value-added tax (VAT) for intra-state movement of goods, and a central sale tax (CST) regime for
Category: GST
Speaking Order Under GST Regime
https://taxguru.in/goods-and-service-tax/speaking-order-gst-regime.html Clipped from: https://taxguru.in/goods-and-service-tax/speaking-order-gst-regime.html Speaking orders, or reasoned decisions, form an integral part of natural justice and serve as the third pillar of this principle. A
Read: Six years of GST: Rs 1.5 trillion monthly tax revenues becomes ‘new normal’, focus on curbing tax evasion
https://www.financialexpress.com/economy/six-years-of-gst-rs-1-5-trillion-monthly-tax-revenues-becomes-new-normal-focus-on-curbing-tax-evasion/3147858/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
👍👍👍👍👍👍👍GST Appeal filed after prescribed time limit cannot be entertained
https://taxguru.in/goods-and-service-tax/gst-appeal-filed-prescribed-time-limit-entertained.html Clipped from: https://taxguru.in/goods-and-service-tax/gst-appeal-filed-prescribed-time-limit-entertained.html The Hon’ble Kerala High Court in M/s Penuel Nexus Pvt Ltd. v. The Additional Commissioner (Appeals), Cochin [WP(C) No. 15574 of 2023 dated June
Cash Credit Account is not a Debt and Cannot be Made Attachable: Calcutta HC Sets aside Attachment Order
Clipped from: https://www.taxscan.in/cash-credit-account-is-not-a-debt-and-cannot-be-made-attachable-calcutta-hc-sets-aside-attachment-order/293406/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Cash%20Credit%20Account%20is%20not%20a%20Debt%20and%20Cannot%20be%20Made%20Attachable:%20Calcutta%20HC%20Sets%20aside%20Attachment%20Order The Calcutta High Court set aside the attachment order since the cash credit account is not a debt and cannot be made attachable.
👍👍👍👍👍CESTAT Quashes Order as SCN Deemed Time-Barred, Issued Beyond Period of Limitation
Clipped from: https://www.taxscan.in/cestat-quashes-order-as-scn-deemed-time-barred-issued-beyond-period-of-limitation/292526/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=CESTAT%20Quashes%20Order%20as%20SCN%20Deemed%20Time-Barred,%20Issued%20Beyond%20Period%20of%20Limitation The Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Ahmedabad bench has quashed an order related to a service tax appeal on the grounds that the Show
👍👍👍👍👍Section 107 of CGST Act impliedly excluded application of Limitation Act
https://taxguru.in/goods-and-service-tax/section-107-cgst-act-impliedly-excluded-application-limitation-act.html Clipped from: https://taxguru.in/goods-and-service-tax/section-107-cgst-act-impliedly-excluded-application-limitation-act.html Penuel Nexus Pvt Ltd Vs Additional Commissioner Headquarters (Appeals) (Kerala High Court) Kerala High Court held that provisions of section 107 of
ICICI Prudential found to have ₹492 crore GST liability, many under lens
ICICI Prudential found to have ₹492 crore GST liability, many under lens https://economictimes.indiatimes.com/industry/banking/finance/insure/icici-prudential-gets-notice-for-alleged-gst-liability-of-rs-492-crore/articleshow/101291709.cms Download Economic Times App to stay updated with Business News – https://etapp.onelink.me/tOvY/135dde21
Under scanner: Insurance companies likely to soon face GST audits
https://www.business-standard.com/economy/news/insurance-firms-to-face-gst-audit-tax-authorities-to-check-irregularities-123062200993_1.html lipped from: https://www.business-standard.com/economy/news/insurance-firms-to-face-gst-audit-tax-authorities-to-check-irregularities-123062200993_1.html Any mismatch in information across documents could raise a red flag Photo: Shutterstock Listen to This Article Insurance companies may soon face
Targets Based Incentives earned by Reseller not amount to Trade Discount; 18% GST Applicable: AAAR
Clipped from: https://www.taxscan.in/targets-based-incentives-earned-by-reseller-not-amount-to-trade-discount-18-gst-applicable-aaar/290133/ While enhancing the AAR’s decision, the Maharashtra Appellate Authority for Advance Ruling (AAAR) decided that 18% Goods and Services Tax (GST) is applicable to incentives
Mineral transporters take litigation path against GST demand – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/mineral-transporters-take-litigation-path-against-gst-demand/article66986024.ece Clipped from: https://www.thehindubusinessline.com/economy/mineral-transporters-take-litigation-path-against-gst-demand/article66986024.ece Carriers and experts say such a mechanism is not justified, while tax officials rely on a circular issued last August GST demand for
CBIC issues guidelines for strenghtening GST registration applications – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/cbic-issues-guidelines-for-strenghtening-gst-registration-applications/article66969083.ece Clipped from: https://www.thehindubusinessline.com/economy/cbic-issues-guidelines-for-strenghtening-gst-registration-applications/article66969083.ece The process for granting Goods and Services Tax (GST) registration will now be more stringent with a focus on ‘High Risk’ applicants.
👍👍👍👍👍Retrospective cancellation of supplier’s registration no ground to deny ITC benefit to recipient, says Kolkata HC – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/retrospective-cancellation-of-suppliers-registration-no-ground-to-deny-itc-benefit-to-recipient-says-kolkata-hc/article66968435.ece Clipped from: https://www.thehindubusinessline.com/economy/retrospective-cancellation-of-suppliers-registration-no-ground-to-deny-itc-benefit-to-recipient-says-kolkata-hc/article66968435.ece However, the buyer will have to probe the genuineness of the transaction In an important ruling, Kolkata High Court has held that
🙏Bombay High Court –Division Bench decision–IGST provisions related to intermediary services — Issue still to be decided who will levy the tax? Courtesy BusinessLine 8.6.23
Issue — one of the petitioners–a proprietary firm , offers marketing and promotion services to foreign customers who are into manufacture and / or sale
Scam busters. Enforcement Directorate launch crackdown against fake GST firms racket
https://www.thehindubusinessline.com/economy/enforcement-directorate-launch-crackdown-against-fake-gst-firms-racket/article66934804.ece Clipped from: https://www.thehindubusinessline.com/economy/enforcement-directorate-launch-crackdown-against-fake-gst-firms-racket/article66934804.ece Searches held at 25 locations across three States to unearth the nexus of persons making documents to help generate bogus Input Tax
👍E-invoices enabled for taxpayers with annual turnover between ₹5-₹10 crore
https://www.thehindubusinessline.com/economy/e-invoices-enabled-for-taxpayers-with-annual-turnover-between-5-10-crore/article66937702.ece Clipped from: https://www.thehindubusinessline.com/economy/e-invoices-enabled-for-taxpayers-with-annual-turnover-between-5-10-crore/article66937702.ece Businesses with a turnover of ₹5 crore or more will be required to adopt e-invoicing from August 1 GST Network (GSTN) has
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