Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021, the extended due date. More than 46.11 lakh ITRs were filed on 31.12.2021.
The gross GST revenue collected in the month of December 2021 is Rs 1,29,780 crore of which CGST is Rs 22,578 crore, SGST is Rs 28,658 crore, IGST is Rs 69,155 crore (including Rs 37,527 crore collected on import of goods) and cess is Rs 9,389 crore (including Rs 614 crore collected on import of goods).
NPT Papers Pvt Ltd Vs C.C. Mundra (CESTAT Ahmedabad) It is well settled law that even if the foreign suppliers are related to indian importers the transaction value cannot be rejected on the grounds that a transaction is between the related person when identical or similar goods were sold at the same price to unrelated […]
The GST Mumbai East Commissionerate of Mumbai Zone, while investigating the business activities of cryptocurrency exchange WazirX have detected GST Evasion of Rs 40.5 Crores. The Commissionerate has also recovered Rs 49.20 Crores in Cash pertaining to GST evaded, interest and penalty.
In re Golkonda Hotels And Resorts Limited (GST AAR Telangana) M/s. Golconda Hospitality Services and Resorts Limited, are in the business of providing accommodation and services and in the course of the business they have supplied the services of boarding and lodging facility for the officials of Greater Hyderabad Municipal Corporation for conducting 2018 General […]
Commissioner of CGST & Central Excise Vs Hindustan Petroleum Corporation Ltd. (Bombay High Court) In our view, any decision on the issue whether the revenue could have invoked the extended period of limitation for recovery of the excise duty, or would not have any bearing or impact on the rate of duty of excise or […]
provisions of the circulars / directions -listed in Annex I from those issued by the Reserve Bank of India (RBI) and adopted by IFSCA vide its circular F.No.110/IFSCA/Banking Regulation/2020-21/1 dated December 4,2020, shall cease to be applicable to the IBUs from the date of coming into effect of the directions in the Handbook i.e., January 1, 2022.
Iit was stated that the respondent to that application i.e. the present petitioner was still engaging himself in issuance of fake paper invoices and thereby passing of fake / ineligible ITC running into crores of rupees
Manual/physical filing of EODC/closure applications under AA scheme is allowed for AAs issued before 1.12.2020. Exporters are also requested to update EODC/Closure status of earlier issued AAs in the online system by 31.3.2022.
The issue raised in the instant application and the audit objection raised in the audit report are one and the same i.e., applicability of GST on security deposit. Thus first proviso to Section 98(2) of the CGST Act 2017 is squarely applicable to the instant case, as all the conditions therein are fulfilled.
