An RTI reveals that Whopping 6.14 lac crore ITC blocked under rule 86A of CGST Rules, 2017 out of which 2.96 lac Crore is blocked for more then 1 year in utter disregard of rule 86A(3). Clarification by GSTN (@Infosys_GSTN) on 13.10.2021 on Twitter In social media, a figure of Rs. 6.14 Lakh Crore of […]
The Calcutta High court in this case was considering the writ petition where the petitioner contended that the assessment was made in disregard of the violation of natural justice as the password for the Video Conferencing was not provided and relevant evidence was produced.
Monopoly Innovations Pvt. Ltd. Vs Union of India & Ors. (Bombay High Court) 1. The petitioner is a private limited company duly registered under the provisions of the Companies Act, 1956. It is a registered unit under the Micro, Small and Medium Enterprise Development Act, 2006 and, inter alia, engaged in the business of production […]
National Building Construction Corporation Ltd. Vs Add. CIT (ITAT Delhi) In the instant case before us also, the expenses have been incurred on the direction of the relevant Ministry / Government of India. Further, neither the Assessing Officer nor the learned DR has rebutted the contention of the assessee that expenses have been incurred for […]
It is quite clear that to recommend abolition of audit for certain companies is not covered u/s 132(2) and therefore not within the scope of NFRA. So, any recommendation by NFRA to abolish of audit for certain companies is ultra-virus. NFRA should not have included this aspect in its Consultation paper at all.
Mumbai South CGST Commissionerate detected a fake ITC case of about Rs. 270 crores relating to diamonds, whether or not worked but not mounted or set. Mumbai GST zone has appreciably stepped up its all-round anti-evasion work.
Union of India and 4 Ors. Vs Keshari Industries (Gauhati High Court) Order passed following the Supreme Court decision cannot be termed as erroneous simply because subsequently the said decision of the Supreme Court is held to be per incurium by a larger bench FULL TEXT OF THE JUDGMENT/ORDER OF GAUHATI HIGH COURT All these […]
Office Order No. 270 of 2021 Following transfer/postings of the officers in the grade of Commissioners of Income Tax/Directors of Income Tax, are hereby ordered with immediate effect and until further orders:
In re Honer Developer Private Limited (GST AAR Talangana) Brief facts of the case: The applicant is in the business of construction and selling of residential flats. Their current project contains (760) flats of various dimensions and they intend to sell them in the market. They have informed that some of the customers are claiming […]
Highlights of 45 GST Council Meeting Recommendations of 45 GST Council Meeting Several people centric decisions taken by GST Council The 45th meeting of the GST Council was held on 17.09.2021 at Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia made the following […]
