Tax
No GST Payable On Gangajal, Clarifies CBIC
The Central Board of Indirect Taxes (CBIC) has clarified that no GST is payable on Gangajal.The Board stated that Gangajal is used in pooja by households across the country and puja samagri is exempt under GST.GST on puja samagri was discussed in detail in the 14th and 15th meetings of the GST Council held on 18/19 May, 2017 and 3rd Jun, 2017 respectively and decided to keep them in the...
GST Act | No Provision To Disclose Route Of Transportation Of Goods: Allahabad High Court Quashes Demand
The Allahabad High Court has held that unlike the Value Added Tax Act, 2008, there is no specific provision in the Goods and Service Tax Act, 2017 which requires assesses to declare route of transportation/ transit of goods. Therefore, goods cannot be detained for not being transported through the regular route.A bench comprising of Justice Piyush Agrawal held,“Under the GST Act, there is...
GSTN Issues Advisory On Compliance Pertaining To Difference In ITC Available In GSTR-2B & ITC Claimed In GSTR-R3B
The Goods and Service Tax Network (GSTN) has issued the advisory in respect of introduction of compliance pertaining to DRC-01C (Difference in Input Tax Credit (ITC) available in GSTR-2B & ITC claimed in the GSTR-R3B).The Government inserted the Rule 88D in CGST Rule, 2017 dealing with difference in input tax credit available in GSTR-2B and ITC availed in GSTR-3B. The functionality has...
No Service Tax Payable On Supply Of Water And Electricity To The Tenants: CESTAT
The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that there is no requirement to discharge any service tax on the supply of water and electricity to their concessionaires or tenants, who were paying for these two utility services on an actual basis plus a markup of 10%.The bench of Anil Choudhary (Judicial Member) and A.K. Jyotishi (Technical...
Tax Claims Of The Govt. Extinguishes Post Approval Of Resolution Plan By NCLT: CESTAT
The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that all claims prior to the National Company Law Tribunal (NCLT) approval date of government authorities in relation to all taxes for which the appellant was liable to pay shall stand extinguished on the approval date.The bench of Anil Choudhary (Judicial Member) and A.K. Jyotishi (Technical Member)...
Wrong Collection Of TCS On Purchase Of Coal For Generation Of Power: Jharkhand High Court Directs Refund
The Jharkhand High Court has directed the Tax Collected as Source (TCS) refund wrongfully collected despite verifying purchase of coal was used for generation of power.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that the root cause lies in the illegality committed by the Revenue in compelling Central Coalfields Limited (CCL) in effecting TCS qua...
Delhi High Court Allows Deduction To Hyatt Regency Towards Repair, Renovation, Refurbishment, Consultancy Expenses As Revenue Expenditure
The Delhi High Court has allowed the income tax deduction to Hyatt Regency towards repair, renovation, refurbishment, and consultancy expenses as revenue expenditure.The bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has observed that ITAT rightly mentioned that if the owner of a building that is used for business incurs expenditure in the nature of current repairs and...
S.153C Income Tax Act | Preceding 6 Years Period As Regards 3rd Party To Be Calculated From Date When Documents Are Assigned To Concerned AO : Supreme Court
The Supreme Court has rejected the argument of the Income Tax department that Section 153C of the Income Tax Act 1961 empowers the assessing officer to seek information from a third party regarding income tax returns of the period of six years preceding the date of the search of the assessee whose premises was originally searched.A Bench comprising Justice S. Ravindra Bhat and Justice...
Income Tax Act | Alternate Remedy Available, Orders Are Appealable, Writ Jurisdiction Need Not Be Invoked, Allahabad High Court
The Allahabad High Court has refused to quash order and consequential notice under Sections 147 and 148 of the Income Tax Act, 1961 in writ proceedings under Article 226 of the Constitution of India. The Court held that all permissible grounds of defence remain open to assessee at the stage of proceedings under Section 148.The bench comprising Chief Justice Pritinker Diwaker and Justice...
Intent To Evade Tax Sine Qua Non For Initiation Of Proceedings U/S 129 And 130 Of CGST Act: Allahabad High Court
The Allahabad High Court has held that it is necessary for the authorities to establish intention to evade tax for proceedings under Sections 129 and 130 of Central Goods and Service Tax Act, 2017. The Court held that without recording a finding a as to intention to evade tax, proceedings can at best be initiated under Section 122 of the Act.Dealing with Section 129 and Section 130 of the...
Clarification On Audit Report Requirements for ‘Substantial Contributors’ In AY 2023-24: CBDT
The Central Board of Direct Taxes (CBDT) has issued the clarification on Audit Report Requirements under Section 119 of the Income-tax Act, 1961 for ‘Substantial Contributors’ in AY 2023-24.It focuses on providing details of ‘substantial contributors’ in Form No. 10B or 10BB for the assessment year 2023-24. The circular states that details should include contributors whose...
Difficulties Faced On Initial Phase Of GST Implementation, Kerala High Court Sets Aside Disallowance Of ITC
The Kerala High Court recently addressed the difficulties faced by small scale dealers during the initial phases of GST implementation in understanding the provisions of GST Act. Justice Dinesh Kumar Singh set aside the orders of the assessing authority disallowing the input tax credit claims of the petitioners and observed thus,“The period involved is 2017-18 when the GST regime was...