24 Jun 24

GST Council waives interest, penalty on tax demands between FY18 and FY20

The Goods and Service Tax (GST) Council in its 53rd meeting on June 22 waived off interest and penalty on tax demand notices for the period 2017-2020, provided the assessee pay the tax by March 31, 2025, The Goods and Services Tax (GST) Council Saturday empowered tax authorities to waive interest and penalties on…

19 Nov 23

Rectified Refund Application Under Rule 90(3) is Not Time-barred – Delhi High Court

Facts of the Case Insitel Services Pvt. Ltd. Versus Union of India The petition has been listed before this Bench by the Registry in view of the urgency expressed therein. The same has been heard by way of video conferencing. Present writ petition has been filed challenging the Second Deficiency…

August 10, 2023
Taxchanakya
No Comments

The GST Council in its 51st meeting on August 2 had recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which…

15 Jul 23

Transfer of Business in case of Death of Proprietor under GST

Transfer or succession of business is a normal business phenomenon which has been taken care by the various taxation laws also. Transfer or succession of business may take place in various cases such as merger, demerger, amalgamation or death of proprietor etc. In this article, we have discussed the provisions…

15 Jul 23

Legal Heirs of Sole Proprietor Gets Input Tax Credit under GST on Death of Sole Proprietor

When a business is transferred to another person for any reason—including the death of the proprietor—the transferee or successor, as the case may be, shall be required to be registered with effect from the date of such transfer or succession. The applicant must specify “death of single owner” as the cause…

15 Jul 23

Assessment under GST

Goods and Services Tax (GST) has revolutionized the way tax is collected in India. One of the key features of GST is its self-assessment system. This means that taxpayers are required to self-assess their tax liability and file their returns accordingly. However, the government has the power to verify the…

30 Jun 23

Services Rendered By Indian Commission Agent To Foreign Principal Will Qualify As Export Of Service

The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the services rendered by Indian commission agents to foreign principals will qualify as “export of service. The bench of Justice Dilip Gupta (President), P.A. Augustian (Judicial Member), and C.J. Mathew (Technical Member) has observed…