"29 April 2023" Archive

GST 9 late fees reduced under GST Amnesty Scheme

07/2023 - Goods and service tax act 31/03/2023

What is GSTR 9 GSTR-9 is the annual return that a registered taxpayer under the Goods and Services Tax (GST) regime is required to file with the tax authorities on an annual basis. The form GSTR-9 is a consolidation of all the monthly/quarterly GST returns filed during the financial year. GSTR-9 includes details of all […]...

CBIC amends 17 Custom notifications to align HS Codes w.e.f. 01.05.2023

Notification No. 36/2023-Customs, [G.S.R. 333(E).] 29/05/2023

CBIC amend 17 Customs Tariff notifications in order to align the HS Codes of the said notifications with the Finance Act, 2023, w.e.f. 01.05.2023 vide Notification No. 36/2023-Customs Dated: 29th April, 2023 MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 36/2023-Customs | Dated: 29th April, 2023 G.S.R. 333(E).—In...

CBIC amends notification No. 50/2017-Customs to align HS Codes w.e.f. 01.05.2023

Notification No. 35/2023-Customs, [G.S.R. 332(E).] 29/04/2023

Seeks to amend notification No. 50/2017-Customs in order to align the HS Codes of the said notifications with the Finance Act, 2023, w.e.f. 01.05.2023 vide Notification No. 35/2023-Customs, Dated: 29.04.2023 MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 35/2023-Customs | Dated: 29th April, 2023 G.S.R. 332(E).—In...

CBIC amends 3 Custom notifications to align HS Codes w.e.f. 01.05.2023

Notification No. 34/2023-Customs, [G.S.R. 331(E).] 29/04/2023

CBIC amends 3 electronics related notifications in order to align the HS Codes of the said notifications with the Finance Act, 2023, w.e.f. 01.05.2023 vide Notification No. 34/2023-Customs Dated: 29th April, 2023. MINISTRY OF FINANCE (Department of Revenue) New Delhi Notification No. 34/2023-Customs | Dated: 29th April, 2023 G.S.R. 331(E)...

Deduction towards education Secondary & Secondary Higher Education Cess is not allowable

Sarat Chatterjee &

ITAT Kolkata held that education cess and Secondary and higher Secondary Education cess being part of the tax is not allowable as deduction....

Amendment to section 40(a)(ia) vide Finance Act 2020 is retrospective in nature

Hi-Lite Builders Pvt Ltd Vs DCIT (ITAT Cochin)

ITAT Cochin held that amendment to section 40(a)(ia) of the Income Tax Act made by the Finance Act 2020 is retrospective in nature. Accordingly, TDS deposited on or before the due date of filing return u/s 139(1) is allowable....

Non-deduction of TDS/ reversal of TDS on interest payment based on Form 15G/15H justified

Tamilnadu Mercantile Bank Ltd. Vs ITO (ITAT Chennai)

ITAT Chennai held that non-deduction of TDS and reversal of TDS deduction on interest payment on the basis of declaration in Form No. 15G/ 15H is justifiable....

Alternative Remedy not an absolute Bar to Entertain Writ Petition

Vishal Porwal Vs Central Board of Direct Taxes (Madhya Pradesh High Court)

HC held that alternative remedy will not operate as an absolute bar for entertaining the writ petition as jurisdictional issue goes to the root of the matter. Therefore, we are of the view that appellant has made out a case for entertaining this appeal and had also stayed the further re­assessment proceedings. Accordingly, this writ peti...

ITAT dismisses Appeal as tax effect was Below Rs. 50 Lakhs

ITO Vs Westwind Trading Pvt. Ltd. (ITAT Kolkata)

Ld. Sr. DR had raised an objection stating that issues relating to the ground of appeal taken in the present case falls under the exception clause contained in the said CBDT circular and, therefore, has to be heard on merit. To this effect, a report was called from the Ld. AO to make a submission as to how the present appeal is covered un...

Pros & Cons of Employee Moonlighting: A Comprehensive Guide for Employers

1. Introduction Employee moonlighting refers to the practice of employees working a second job or engaging in additional paid work outside of their primary employment. It’s a relevant and important topic because it affects both employees and employers. For employees, moonlighting can provide extra income, opportunities for skill dev...

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