Tax
Govt. Constitutes State Benches For GST Appellate Tribunal
The establishment of 31 benches for the Goods and Services Tax Appellate Tribunals (GSTAT) has been announced by the central government. The action is anticipated to assist firms in effectively resolving a range of disputes.The GST Council advised that GSTAT be established with one Principal Bench and several State Benches.The notification states that Uttar Pradesh will get three benches,...
Refusal To Condone Delay In ITR filing , Consideration After 20 Years, Allahabad High Court Quashes Order
The Allahabad High Court has quashed the order refusing to delay condonation in filing ITRs for lack of records after more than 20 years of filing the condonation applications.The bench of Justice Siddhartha Varma and Justice Manoj Bajaj has observed that when the delay condonation application was filed on March 30, 1998, the applications ought to have been decided within the time provided by...
Benefit Of Vera Samadhan Yojana-2019 Cannot Be Denied Due To Erroneous Payment Figure In Tax Intimation: Gujarat High Court
While handing down a verdict in favor of Planet Automotive Pvt. Ltd., which had sought relief under the "Vera Samadhan Yojana-2019," a tax amnesty scheme introduced by the State of Gujarat, the Gujarat High Court, has affirmed that a minor error in the intimation should not prevent the petitioner from availing the benefits of the scheme, especially when they have met the essential criteria...
Mirror And Sari Guard, Part Of Final Product- Motorcycle, CESTAT Allows Cenvat Credit To Hero MotoCorp
The Chandigarh Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), while allowing Cenvat Credit to Hero Motocorp, held that it is the statutory obligation of two-wheeler manufacturers to clear motorcycles from the factory with mirror assembly and sari guard.The bench of S. S. Garg (Judicial Member) and P. Anjani Kumar (Technical Member) has observed that mirror assembly...
Unit Undergoing Relocation, Expansion And Change Of Ownership Not Eligible Under Budgetary Support Scheme: Sikkim High Court
The Sikkim High Court has held that if the unit undergoes relocation, expansion, or change of ownership, it will not be eligible under the scheme of budgetary support.The bench of Justice Bhaskar Raj Pradhan has observed that the intention of the Government of India in providing the Budgetary Support Scheme was to support those "eligible units" for the "residual period" not exceeding ten years...
CBIC Imposes Anti-Dumping Duty on imports of Chinese Steel For 5 Years
The Central Board of Indirect Taxes and Customs (CBIC) has imposed an anti-dumping duty on imports of Chinese Steel for 5 years.Chinese flat-base steel wheels are now subject to an anti-dumping charge of $613 per tonne. The government has suggested that the steel wheel duty be prolonged for an additional five years after it was first enacted in 2018.According to the announcement, "The...
Registration Of The Premises Is Not A Precondition For Availment Of Cenvat Credit: CESTAT
The Chandigarh bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the registration of the premises is not a precondition for availing of cenvat credit.The bench of S. S. Garg (Judicial Member) and P. Anjani Kumar (Technical Member) observed that under Sections 68 and 69 of the Finance Act, the requirement for registration arises when a person is liable to...
Damage On Account Of Right To Sue Is A Capital Receipt Not Chargeable To Tax: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the damage on account of the right to sue is a capital receipt not chargeable to tax.The bench of Amit Shukla (Judicial Member) and Amarjit Singh (Accountant Member) has observed that Section 6 of the Transfer of Property Act clearly provides that "a mere right to sue cannot be transferred", even if it is to be treated...
Shore Tank Receipt Quantity Of IOCL, BPCL, HPCL As Per Ex-Bond Bills Of Entry Are Basis For Calculation Of Customs Duty: CESTAT
The Ahmedabad Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the shore tank receipt quantity of Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) as shown in ex-bond bills of entry is to be taken for calculation of the customs duty.The bench of Ramesh Nair...
Businesses With Turnover Of Rs. 100 Crore And Above To Upload Invoices Within 30 Days: National Informatics Centre
The National Informatics Centre has issued an advisory on a new time limit for reporting invoices on the Invoice Registration Portal (IRP). The new timeline will come into effect from 1st November 2023.The GST Authority has decided to impose a time limit of 30 days for reporting of invoices from the date of invoice, on e-invoice portals. This time limit is applicable for taxpayers with an...
Appellate Authority Or Article 226 Of The Constitution Cannot Extend Delay Condonation Period With A Specified Timeframe: Patna High Court
The Patna High Court has issued a significant ruling clarifying the limitations of Article 226 of the Indian Constitution in cases involving the Bihar Goods and Services Tax Act, 2017 (BGST). The court has held that when a statute prescribes a specific time frame for condoning delays, the Appellate Authority under Article 226 does not have the authority to extend this stipulated period.The...
Brand Names Are Specie Of The Trademark: Delhi High Court Allows Depreciation
The Delhi High Court has allowed the depreciation and held that the expression "trademark" under Section 32(1)(ii) of the Income Tax Act, 1961, and in the appended Explanation 3(b) would clearly include brand names.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the definition of assets, as explained in the explanation, includes commercial rights of...