Stay informed on the latest amendments to GST as per the Finance Bill 2023, passed by Lok Sabha on March 24, 2023. Key changes include exemptions from GST registration for specified categories, removal of the 30-day limit for revocation of registration cancellation, an extension of the period to furnish Form GSTR 3B or Form GSTR 10 under Best Judgment Assessment, and alterations to the constitution of GST Appellate Tribunal (GSTAT) and its benches. Additionally, the place of supply for transportation services and the maximum rate for GST Compensation Cess have been revised. Stay compliant with the updated regulations.
ITAT upheld additions towards cash seized during search proceedings as unexplained money, under Section 69A when assessee could not establish source for amount found.
HC held that tax, interest, penalty, fine, and fees due need to be paid for the revocation of cancellation of GST Registration by assessee.
Held that, though domestic GAAR provisions are applicable, the treaty benefit cannot be denied to the assessee. Revenue Department to delete disallowance of STCG and allow benefit of provisions of India- Singapore DTAA.
HC held that until purchasing dealer discharges burden of proof under Section 70 of KVAT Ac, and proves the genuineness of transaction/purchase and sale by producing relevant materials, such as name and address of selling dealer, details of vehicle which has delivered goods, payment of freight charges, acknowledgement of taking delivery of goods, tax invoices and payment particulars etc, such purchasing dealer shall not be entitled to ITC
Appellant builder treated Property as stock-in-trade & profits on its sale would be offered as business income and no rental income was received by Appellant from Property.
A petition challenging the constitutional validity of Sec 16(2)(c) of the CGST Act highlights the impact on taxpayers and ongoing litigation, including the Bharti Telemedia case.
HC set aside cancellation order of GST Registration of assessee on the grounds that non-submission of reply to Show Cause Notice cannot be a ground for cancellation of GST Registration.
Ensure smooth transition for GST compliance in FY 2022-23 with this checklist. Reconcile ITC, report correct outward supplies, and address other crucial aspects.
HC set aside the order on the grounds, that Revenue Department and Appellate Authority have committed misreading of FORM GSTR-09
