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Initiation of an Enquiry or Summons Under CGST Cannot Be Considered as Initiation of Proceedings | HC
Case Details: K.T. Saidalavi v. State Tax Officer - [2024] 168 taxmann.com 211 (Kerala) Judiciary and Counsel Details Gopinath P., J. Meera V. Menon & K. Krishna, Advs. for the Petitioner. Sheela Devi I., SC, Central Board of Excise and Customs, Jagath N., CGC & Thushara James, Sr. Government Pleader for the Respondent. Facts of the Case In […]
RBI Raises Interest Rate Ceilings on Foreign Currency (Non-Resident) Accounts (Banks) Deposits Effective from 06.12.2024
Circular No. RBI/2024-25/94 DoR.SPE.REC.No.51/13.03.00/2024-2025, Dated 06.12.2024 RBI has raised the interest rate ceilings on Foreign Currency (Non-resident) Accounts (Banks) [FCNR(B)] deposits for banks, effective from December 06, 2024, until March 31, 2025. For deposits with a maturity of 1 year to less than 3 years, the ceiling is the Overnight Alternative Reference Rate (ARR) of […]
HC Set Aside Order Cancelling the GST Registration Due to the Lack of Reasons for Retrospective Cancellation
Case Details: Akash Garments India (P.) Ltd. v. Union of India - [2024] 168 taxmann.com 688 (Delhi) Judiciary and Counsel Details Yashwant Varma & Dharmesh Sharma, JJ. N.K. Sharma, Adv. for the Petitioner. Ms Shreya Bhardwaj, SPC, Harpreet Singh, SSC, Ms Suhani Mathur and Shivang Chawla, Advs. for the Respondent. Facts of the Case The petitioner had moved an application seeking […]
GSTN Advisory on Mandatory Sequential Filing of GSTR-7 Returns as Per Notification No. 17/2024
GSTN Update dated December 4th, 2024 The GSTN has noted that multiple tickets have been received regarding sequential filing of return in Form GSTR-7. Thus, the GSTN has issued an advisory to inform that GSTR-7 filing has been made sequential from the October tax period. Hence, GSTR-7 return is to be filed in chronological order, […]
Genuine Hardship Should Be Construed Liberally; Delay in Filing ITR Due to Advocate’s Inadvertence to Be Condoned | HC
Case Details: Nirzari Amitbhai Mehta vs. Pr. Commissioner of Income-tax-1 - [2024] 168 taxmann.com 674 (Gujarat) Judiciary and Counsel Details Bhargav D. Karia & Mrs Mauna M. Bhatt, JJ. S.N. Divatia, Adv. for the Petitioner. Varun K. Patel, Adv. for the Respondent. Facts of the Case The assessee, an individual and long-time taxpayer failed to file an […]
IBBI Extends Due Date for Filing Liquidation and Voluntary Liquidation Forms Till 31.12.2024
Circular No. IBBI/LIQ/79/2024, Dated: 02.12.2024 After considering representations from liquidators and agencies citing technical difficulties, the Insolvency and Bankruptcy Board of India has extended the deadline for filing liquidation and voluntary liquidation forms to 31.12.2024, previously set at 30.11.2024. Further, it has been clarified that for ongoing liquidation and voluntary liquidation cases, the responsibility for […]
Order Dismissing Appeal Was Set Aside as Signatory Was Authorized and Required Pre-Deposit Was Made | HC
Case Details: Delphi World Money Ltd. v. Union of India - [2024] 168 taxmann.com 341 (Bombay) Judiciary and Counsel Details Jitendra Jain & M.S. Sonak, JJ. Sriram Sridharan, Adv & Shanmuga Dev, for the Petitioner. Karan Adik & Ms Sangeeta Yadav, for the Respondent. Facts of the Case The petitioner filed appeal before the GST Appellate Authority […]
[Opinion] Decoding the Supreme Court’s Safari Retreats Pvt. Ltd. Judgment | Implications for ITC Under GST for Real Estate Developers
Manan Doshi & Pratik Trivedi – [2024] 168 taxmann.com 616 (Article) 1. Introduction The Supreme Court’s decision in Chief Commissioner of Central Goods and Service Tax v. Safari Retreats (P.) Ltd. [2024] 167 taxmann.com 73/90 GSTL 3 (SC) has introduced much-needed clarity on the application of Input Tax Credit (ITC) under the GST framework, specifically […]
Extension of due date for furnishing return of income in the case of an assessee who is required to furnish a report referred to in section 92E for the AY 2024-25
Publish Date : Saturday, November 30, 2024 source
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