Notification No. S.O. 2423(E). -
02/06/2023
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 ...
Amar Singh Vs Sanjeev Kumar (Punjab And Haryana High Court) -
Amar Singh Vs Sanjeev Kumar (Punjab And Haryana High Court) In this case High Court has issued directions for the use of modern communication methods in serving notices and summons. The court recommends email, fax, and commonly used instant messaging services like WhatsApp, Telegram, and Signal. Parties and their advocates are required to...
Morgan Stanley has expressed that India may emerge as a key driver for Asia and global growth with growth differentials swinging in India’s favour. Also, India remains the fastest growing major economy in 2022-23. According to Moody’s, Global Rating Agency, India may be the fastest growing G-20 economy in next five years with expansio...
Sanath Kumar Murali Vs ITO (Karnataka High Court) -
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 esca...
Article explains deductions on capital gains from the sale of a long-term capital asset under Sections 54 and 54F of the Income Tax Act, 1961 simultaneously for a Single Residential House Property. Section 54 enables individuals to claim deductions when selling a residential house and purchasing or constructing another residential house w...
Section 61 read with Rule 99 of the Central Goods and Services Tax (CGST) Act provides the authority to the Proper Officer to scrutinize the returns submitted by registered persons. This ensures that the tax compliance of businesses is properly examined and any discrepancies or non-compliance can be addressed. The definition of the Proper...
Commissioner of Service Tax Vs Ad2Pro Global Creative Solutions Pvt. Ltd. (CESTAT Chennai) -
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....
State Bank of India Corporate Centre Vs CIT(A) (ITAT Mumbai) -
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....
Haresh Kumar Vs Assistant Commissioner (ST) (Madras High Court) -
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....