The 56th GST Council meeting will review tax rate rationalisation, insurance premium relief, compensation cess, and compliance reforms under GST 2.0.
ITAT Kolkata dismisses revenue’s appeal, ruling that repaid unsecured loans cannot be treated as unexplained cash credits under Section 68 of the IT Act.
The ICAI’s GST & Indirect Taxes Committee offers suggestions to enhance GST compliance. Recommendations cover adjudication, ITC, registration, and refunds.
Learn about the recent system enhancement to the GST portal for claiming order-based refunds. Taxpayers can now claim refunds for negative balances in minor heads, even if the overall demand ID is zero or positive.
Delhi High Court held that section 69 and section 70 of the Central Goods and Services Tax Act, 2017 which provides for power to arrest and power to summons is constitutionally valid as the Parliament has the legislative competence to enact the provisions u/s. 69 and 70 of the CGST Act.
Chandigarh Chartered Accountants request the CBDT to extend ITR and tax audit deadlines. Key reasons include delayed utilities, portal glitches, and monsoon floods.
Taxpayers across India are expressing growing frustration over what they claim are significant delays in the processing of their income tax refunds for the Assessment Year 2025-26.
ITAT Chennai deletes a ₹832 Cr tax addition on share purchases, ruling that statutory valuation rules under Rule 11UA take precedence over third-party pricing.
ITAT Chennai dismisses the Revenue’s appeal, upholding a temple’s claim for tax exemption under Section 11 despite a delayed registration and return filing for AY 2017-18.
ITAT Chennai remands a jeweler’s case, stating that additions for unaccounted sales are not sustainable without proper stock adjustments. The margins were considered unrealistic.
