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Archive: 19 January 2024

Posts in 19 January 2024

Postmortem of Union Budget 2024: A Comprehensive Webinar

July 18, 2024 3960 Views 3 comments Print

Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and investment insights. Register now!

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 18, 2024 3561 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

No Service Tax Liability for Sellers of SIM and Recharge Cards when Telecom Operators Pay Tax on Full MRP

January 19, 2024 489 Views 0 comment Print

If telecom operators already pay service tax on the entire Maximum Retail Price (MRP) value of SIM cards and recharge cards, individuals selling or dealing with these cards to the public are not subject to additional service tax liability.

Provisions of section 50C not applicable for Assessment Year 2013-14: ITAT Bangalore

January 19, 2024 717 Views 0 comment Print

Income Tax Appellate Tribunal (ITAT) Bangalore’s significant order favoring Saritha Jain against the Commissioner of Income Tax (Appeals) for Assessment Year 2013-14, covering various grounds challenging income tax assessment.

Kerala HC direct Rectification of Mistaken ITC Claim under CGST & SGST Instead of IGST 

January 19, 2024 10929 Views 0 comment Print

Kerala High Court’s recent case involving Divya S.R. under CGST and SGST Acts. The court directs consideration of a rectification application for mistakenly claimed IGST input tax credit.

Allahabad HC Addresses ITC Blockade in Amarnath Trading Company vs. State of U.P.

January 19, 2024 582 Views 0 comment Print

In a recent case before the Allahabad High Court, Amarnath Trading Company took on the State of Uttar Pradesh, challenging an order that blocked Input Tax Credit (ITC) worth Rs. 53,61,832.

Patna High Court Dismisses Plea Against GST Registration Cancellation

January 19, 2024 525 Views 0 comment Print

In a recent judgment, the Patna High Court dismissed a writ petition challenging the cancellation of GST registration by the Union of India. The petitioner, Ramesh Radav, contended that the cancellation order, dated 20.01.2021, was based on a show-cause notice that directed appearance on 04.01.2021.

Guide to Electronic Credit Reversal and Re-claimed Statement (ECRRS)

January 19, 2024 8931 Views 1 comment Print

Introduction The Government has notified certain changes in Table 4 of Form GSTR-3B to enable taxpayers to report correct information regarding ITC availed, ITC reversal, ITC re-claimed, and ineligible ITC through Notification No. 14/2022 – CT. Circular 170/2022-CGST also was issued to clarify disclosure practices that can be followed. The intention of the change was […]

Creation of dummy units for SSI exemption not established hence duty demand not sustained

January 19, 2024 249 Views 0 comment Print

CESTAT Ahmedabad held that duty demand unsustainable as charges against appellant of creating dummy units for keeping the value of clearance below SSI exemption not established.

Disposing of revision application in undue haste is unlawful act

January 19, 2024 390 Views 0 comment Print

Jharkhand High Court held that Additional Commissioner of Commercial Taxes has acted in undue haste in disposing of the revision applications. It is trite law that if an authority acts in undue haste, malice in law is to be presumed and his action is deemed to be mala fide.

Unexplained cash credit u/s 68: Addition sustained on failure to discharge onus cast on assessee

January 19, 2024 588 Views 0 comment Print

ITAT Mumbai held that the assessee has not discharged its onus to satisfactorily prove the incurring of expenditure for running the alleged Hotel Management Business. Thus, in absence of satisfactory documentary evidence, addition u/s. 68 of entire turnover disclosed as hotel management business sustained.

No Notice under Customs Act Section 110(1); Delhi HC Directs Release of Seized Goods

January 19, 2024 477 Views 0 comment Print

Delhi High Court ruling on SYM Company’s seized goods. Analysis of Customs Act Section 110(2) implications. Learn why the court orders the Customs Department to release goods.

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