The amended order introduces specific stock limits for wholesalers, retailers, big chain retailers, millers, and importers. Notably, the most significant impact of this amendment is the requirement for these entities to declare their stocks’ positions on the portal of the Department of Consumer Affairs.
The gross GST revenue collected for May 2023 in India amounted to ₹1,57,090 crore, representing a 12% year-on-year growth compared to May 2022. This marks the 14th consecutive month with GST revenues exceeding ₹1.4 lakh crore and the 5th time crossing ₹1.5 lakh crore since the implementation of GST. The revenue from import of goods […]
Punjab & Haryana High Court directs modern communication use in notices. Email, fax, WhatsApp, Telegram for summons. Case details & court ruling.
Stay updated on recent GST developments until May 1, 2023. Explore insights into India’s economic growth projections, tax revenue expectations, and global positioning. Learn about the initiation of registration verification to counteract fake invoices and tax evasion. Discover CBIC’s advice on integrity in public life and updates on e-invoice thresholds and automated GST return scrutiny.
Sanath Kumar Murali Vs ITO (Karnataka High Court) Petitioner challenged the order u/s 148A(d) for AY 2016-2017 & sought for quashing 148 notice before the Karnataka High Court. Notice u/s 148A(b) was issued to the petitioner stating that information was received which suggested that income chargeable to tax for the AY has escaped assessment within […]
Explore the possibility of claiming deductions under Sections 54 and 54F of the Income Tax Act simultaneously for a single residential house property. Learn about the recent case law involving M/s. Sudhakar Traders, which sheds light on the importance of Proper Officer’s authorization in issuing notices under Section 61 read with Rule 99 of the CGST Act. Stay informed about the conditions and implications of claiming these exemptions concurrently.
Understand the significance of Proper Officers authorization in issuing notices under Section 61 read with Rule 99 of the CGST Act. Learn from a recent case involving M/s. Sudhakar Traders, where the High Court set aside a notice due to lack of Proper Officer’s authorization. Stay informed about the legal provisions and ensure adherence to transparency and legality in the scrutiny process.
Denial of CENVAT credit for non-registration of premises is not justified as per Section 11B of the Central Excise Act, 1944. Further held that, when conditions like payment of tax and receipt of service are satisfied, in such case credit cannot be denied on the basis that the credit was availed few days before the payment of tax.
ITAT Mumbai remanded the matter for adjudication of bona fide belief of TDS exemption in case of LTC relating to foreign travel vis-à-vis default u/s 201(1) and 201(1A) of the Income Tax Act.
Madras High Court directed the petitioner to deposit maximum penalty of 200% of the tax involved in detention matter as once the mandatory pre-deposit is complied, the order has no force and all the further recovery proceedings will be subject to final outcome of the appeal.
