"11 February 2020" Archive

Regulation of irregularities in GST claims

Regulation of irregularities in GST claims To identify cases of fraudulent claims under Goods & Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics and Artificial Intelligence (AI) tools based on which certain taxpayers are taken up for furthe...

Read More

CBIC destroys large quantities of narcotics & psychotropic drugs

Central Board of Indirect Taxes and Customs (CBIC) destroys large quantities of narcotics and psychotropic drugs and substances across the country Dealing a debilitating blow to the smugglers of Prohibited narcotics and Psychotropic Drugs and Substances, the Customs formations under the CBIC carried out an all India destruction of huge qu...

Read More

DGFT cannot Restriction Advance Authorisation through Public Notice

M. D. Overseas Limited Vs Union of India And Ors. (Delhi High Court)

The issue under consideration is whether the Public notice issued by DGFT for restricting the issuance of Advance Authorisation is justified in law?...

Read More

MCA initiatives to reduce cost of compliance by companies

MCA has been taking various initiatives on continuous basis to provide less stringent regulations, including measures with respect to filing requirements for small companies, One Person Companies (OPCs) and start-ups. This was stated by Shri Anurag Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a qu...

Read More

Validity of notice issued in Form GST-MOV-10 under section 129(6)

ABB India Ltd. Vs Union of India (Gujarat High Court)

ABB India Ltd. Vs Union of India (Gujarat High Court) The whole basis of issuing Form GST-MOV-10 appears to be erroneous in law. The authority has thought fit to proceed against the applicant by way of Form GST-MOV-10, on the premise of section 129(6) of the Act, 2017. Section 129(6) of the Act, 2017 reads […]...

Read More

E-Way Bill–Beneficial Provision of Reduced Penalty

In the matter of, Ideal Movers (P) Ltd Vs state tax Officer (High Court of Madras) it is held that the case would be covered under Para 10 of circular no.10 of 2019 dated 31.05.2019 issued by office of commissioner of commercial taxes , Chennai , where the Commissioner reduces the penalty payable in certain […]...

Read More

India Budget 2020 – Key transfer pricing amendments

The Hon’ble Finance Minister, Ms. Nirmala Sitharaman, presented the Union Budget on 1 February 2020, introducing measures aimed at, inter-alia, reducing litigation, improving effectiveness of tax administration, providing tax certainty and simplifying compliance with the overall objective of enhancing the ease of doing business in India...

Read More

GST: Exercise of power without Opportunity of hearing to Assesse is unjustified

DPK Engineers Private Ltd. Vs. Union of India (Karnataka High Court)

Contention of the learned counsel for the Revenue that the Act vests the power in the respondents to take measures for recovery of tax, interest & the penalties that have fallen due does not come to the rescue of the Revenue; existence of power is one thing and its exercise is another; the existence per se does not justify the exercise; n...

Read More

Abolition of Dividend Distribution Tax – A happy ending?

The new corporate tax regime introduced vide Taxation Laws (Amendment) Act, 2019 expressed the government’s desire to provide relief to the corporate sector and industry bodies at large. Market participants were hopeful that Budget 2020 will address their woes of Dividend Distribution Tax (DDT) as well. The legislative intent behind the...

Read More

Judicial Review of Direct Tax Vivad se Vishwas Bill, 2020

In the statement of objects and reasons in introducing the Direct Tax Vivad se Vishwas Act, 2020, the FM said that over the years, the pendency of appeals filed by taxpayers as well as Government has increased due to the fact that the number of appeals that are filed is much higher than the number of appeals that are disposed....

Read More

Search Posts by Date

November 2022