Learn how to report stock market capital loss in ITR 2 and take advantage of tax relief options. Set off losses against gains and carry them forward for future use.
The dual model of GST (i.e. CGST/SGST + IGST) coupled with the issues related to the identification of the correct place of supply can result in situations wherein the taxpayer ends up charging and paying the tax under an incorrect head (e.g. he may pay CGST/SGST where IGST was payable or vice-a-versa).
The Income Tax Department carried out search & seizure operations on 06.10.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations.
Union of India and 4 Ors. Vs Keshari Industries (Gauhati High Court) Order passed following the Supreme Court decision cannot be termed as erroneous simply because subsequently the said decision of the Supreme Court is held to be per incurium by a larger bench FULL TEXT OF THE JUDGMENT/ORDER OF GAUHATI HIGH COURT All these […]
Manoj Kumar Vs State of Bihar (Patna High Court) Quashed summary revised GST demand cannot be made without giving the assessee a reasonable opportunity to be heard Patna High Court has held that a demand made under GST laws on the basis of orders passed where the assessee was not given a reasonable opportunity to […]
ITC Limited Vs State of Tripura (Tripura High Court) We cannot appreciate the stand of the department that even during the time when the Corona Virus was at its peak, the administrative and legal representatives of the assessee company must appear before the Assessing Officer physically for conducting the hearings. Across the country courts at […]
State Bank of Patiala Vs ITO (ITAT Amritsar) Admittedly the issue pertaining to exemption of I.K. Gujral Punjab Technical University Jalandhar, it is pending adjudication before the Hon’ble High Court of Punjab and Haryana. Nonetheless the certificate was issued by the chartered accountant of I.K. Gujral Punjab Technical University Jalandhar, certifying that the assessee is […]
Suresh Trading Corporation Vs The Asst. Commissioner (Circle) of SGST (Madras High Court) Petitioner has filed this petition challenging the order dated October 10, 2019 in which the GST certificate of the Petitioner was cancelled. However, it is to be noted that SCN which preceded the same was not been issued in the prescribed template […]
Restaurant service is taxed under GST vide Sl. No.7 of Notification No. 11/2017-Central Tax (Rate), wherein the existing rate chargeable is specified @ 2.5%, with the condition that “credit of input tax charged on goods and services used in supplying the service has not been taken”. Further an explanation is also applicable on the above […]
Whether ‘Treated Water’ obtained from STP (classifiable under Chapter 2201) will be eligible for exemption from GST by virtue of SI. No. 99 of the Exemption Notification No. 02/2017- Integrated Tax (Rate) dated 28 June 2017 (as amended) as ‘Water (other than aerated, mineral, purified, distilled, medical, ionic, battery, de-mineralized and water sold in sealed container]’?
