GST Appellate Tribunals are expected to receive tonnes of appeals amounting to more than ₹1 trillion
Sources state that the Government expects the Appellate Tribunals to be functional by April 2024. It is acknowledged by the government and business community that the establishment of these Appellate Tribunals will result in a decrease in the volume of cases that the country’s High Courts have to hear. The government notified the creation of […]
M/s. Henna Medicals vs. State Tax Office, Thalassery & Ors. [WP (C) 30660 of 2023 dated September 19, 2023] In the matter of M/s. Henna Medicals, the Hon’ble Kerala High Court rendered a decision by granting the writ petition, ruling that the discrepancy between GSTR 2A and GSTR 3B is not a reason to reject […]
The 52nd GST Council meeting brought forth a significant recommendation—an Amnesty Scheme for filing appeals against demand orders in cases where the appeal could not be filed within the allowable time. While this proposal offers relief to many taxpayers, it’s essential to analyze its limitations and shortcomings to better understand its implications. Amnesty Scheme for […]
The parent company’s corporate guarantee to its subsidiary for a bank loan will attract 18 per cent GST, recommended the GST Council on Saturday. However, there will be no GST if a director provides a personal guarantee for a loan from a bank or any financial institution to his/her own company without consideration.” “When the […]
Businesses with Aggregate Annual Turnover (AATO) over ₹ 100 crore will not be allowed to report e-invoices older than 30 days on the date of reporting under the goods and services tax (GST) from 01st November 2023. “It has been decided by the GST Authority to impose a time limit of 30 days for reporting […]
The CBDT has notified Form 71 to e-file rectification u/s 155(20) to allow TDS in cases where assessee has claimed the TDS but deductor has paid the TDS in subsequent assessment years and department disallows the credit since its is not reflecting in 26AS of the year in which TDS was claimed, as per new […]