CIT Vs Y. V. Subramaniam (Madras High Court) On a perusal of the order passed by the Tribunal, it is clear that the Tribunal has categorically held that the order passed by CIT is based on no reason and he has simply given an abrupt finding that the assessment order is erroneous. Further, the Tribunal, […]
Amount deposited during the pendency of the appeals before the Hon’ble Supreme Court has to be construed as having paid under protest and has to be refunded without insisting on such importer or manufacturer satisfying the requirement of unjust enrichment as in the case of pre deposit.
Suraj Stones Corporation Ltd. Vs ITO (ITAT Bangalore) Without issuing summons under section 131 of the Act to a party who filed confirmation, no adverse inference can be drawn by the AO. It is clear from the orders of the revenue authorities that they not made any reference to the documentary evidence filed by the […]
In this article we are going to discuss about hardships faced by the Tax payers due to delay in filing of GSTR 1 Return by GST Registered Government undertaking, after the amended Rule 36(4) of CGST Rules and not reflected in GSTR 2B.
The first ever digital budget was presented on 1st February 2021 by the Finance Minister of India, Smt. Nirmala Sitharaman. The budget 2021 came up with the expansion of the scope of supply covered under section 7 of the Central Goods and Services Tax Act, 2017. The present article briefly explains the same. Basics of […]
This GST Charcha deciphers into recent changes in GST Laws made vide Clause No. 103 of the Finance Bill, 2021 to provide certainty as to leviability of interest only on Net Tax Liability.
Kunwar Tuli Vs ITO (Delhi High Court) We find that the Assessing Officer has disallowed the part of the commission expenses paid on the ground that the assessee failed to produce the requisite evidences, including contract agreement between the parties and the assessee sought to justify the commission expenses only in view of the tax […]
New provision says that; if turnover of the buyer is greater than Rs. 10 Cr. in P.Y., and purchase value is Rs. 50 lakhs or more from a single party, then the buyer needs to deduct TDS at 0.1% of such sum exceeding Rs. 50 Lakhs. Let us discuss about it in detail.
in the Union Budget 2021-22, senior citizen above 75 age are exempted from filing return of income subject to certain conditions. The banks on the other side, is required to deduct the requisite tax from the bank account of such senior citizen. It must be noted such assesses are not exempted from paying tax, they are only exempted from ITR filing.
CBIC notifies Rs. 1000.00 fees for Handling of mismatch between Shipping Bill and GST returns in Customs Automated System vide Notification No. 17/2021-Customs (N.T.) Dated: 17th February, 2021. Levy of Fees (Customs Documents) Amendment Regulations, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 17/2021-Customs (N.T.) […]
