FinMin frets over extra expenditure as budget preparations begin
The Finance Ministry officially has started the process of preparing the Union Budget 2022-23 with meetings scheduled to firm up the revised […]
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Important Pronouncements
ITAT recommends constitution of larger bench to decide allowability of freebies to medical professionals as a deduction
The coordinate bench of the Hon’ble Income Tax Appellate Tribunal, Mumbai (“the ITAT Mumbai”) in the case of Deputy Commissioner
Important Pronouncements
Assessment orders passed without application of mind liable to be set aside and invite substantial costs to be imposed on such AO
The Hon’ble Bombay High Court in the case of Mantra Industries Ltd. v. National Faceless Assessment Centre [Writ Petition No.1625
Advance Ruling-New
Cotton Stored by CCI in Warehouses taxable @ 18% GST
In M/S. Kakkirala Ramesh [FORM GST ARA-01 A.R.Com/22/2018 (GSTIN No. 36ABXPK8604N1ZS) dated September 20, 2021], M/S. Kakkirala Ramesh (“the Appellant”)
News
Faceless assessment scheme draws legal ire
The Central government’s faceless assessment scheme is finding itself on the wrong side of the law with unhappy assessees dragging
GST Recent News
Expert panel set up to chalk out a comprehensive tobacco tax policy
The government has set up an expert group led by a senior health ministry official to prepare a comprehensive tax
Important News
GSTN: Advisory for taxpayers on Form GSTR-2B
The Goods and Services Tax Network (“GSTN”) has issued an Advisory dated October 18, 2021 for taxpayers on Form GSTR-2B. Q. 1
Important Pronouncements
Punjab HC orders CBI Inquiry to fix liability of erring Customs Dept on clearing consignment without making any Entry
In Sunil Dutt v. Department of Customs, Commissionerate, Ludhiana [CRM-M-42144-2021 (O&M) dated October 13, 2021], the Honorable Punjab and Haryana
Important Pronouncements
Share Transfer with no consideration chargeable to Income Tax
In Shri Rajeev Ratanlal Tulshyan v. Income Tax Officer [I.T.A. No.5748/Mum/2017 & Cross Objection No. No.118/Mum/2018 AY 2014-2015 dated October
Important Pronouncements
SEZ entitled to GST refund as it falls within the meaning of ‘any person’ under Section 54 r/w Rule 89
The Hon’ble Madras High Court in the case of Platinum Holdings Pvt. Ltd. Vs. Additional Commissioner of GST & Central