Case Laws| GST:  Where order under section 73 was passed and petitioner applied for rectification admitting tax liabilities of CGST and SGST, requested for relief from penalty as 100% penalty was imposed on SGST, since notice was issued under section 73 and not under section 74 of TNGST Act, impugned order was to be quashed […]

Case Laws| GST:  Where assessee was unable to claim ITC due to non-availability of Form GSTR-2 and non-filing of GSTR-3B in online, impugned order disallowing ITC deserved to be set aside [2024] 158 taxmann.com 204 (Madras) HIGH COURT OF MADRAS Tvl.Kavin HP Gas Gramin Vitrak v. Commissioner of Commercial Taxes MRS. S. SRIMATHY, J. W.P.(MD). NOS.

Article |Income Tax:  The Indian Government has introduced several amendments to the Income Tax Act to regulate various transactions and reduce tax evasion. One such amendment is the introduction of Section 206C(1H) in the Income Tax Act, 1961, through the Finance Act, of 2020. This section requires sellers to collect tax at source (TCS) on

Case laws|GST:  [2024] 159 taxmann.com 159 (Madras) HIGH COURT OF MADRASSri Ganesh Constructionsv.Assistant Commissioner (ST)B. PUGALENDHI, J.W.P.(MD) NO. 198 OF 2024JANUARY  8, 2024  Registration – Cancellation of registration – Petitioner-assessee was engaged in business of executing contract works for Government and its agencies – Petitioner was issued with show cause notice to appear for enquiry

The income tax department has notified new Income Tax Return (ITR) forms for the financial year 2024-25 and assessment year 2025 -26.  These forms have undergone a few changes this year. One significant change is related to the choice of tax regime. The new ITR-1 form requires taxpayers to specify the tax regime they choose

Case laws|GST:  Where assessee had routinely deposited GST amount into ECL within due date, it would not be liable to pay interest even if assessee could not file monthly return in Form GSTR 3B within due date but filed belatedly [2024] 158 taxmann.com 593 (Madras) HIGH COURT OF MADRAS Eicher Motors Ltd. v. Superintendent of

Case laws/GST: Show cause notice was issued to petitioner-assessee – Assessee sought quashing of said show cause notice and further sought restoration and revival of GST registration of assessee on ground that that SCN was bereft of any details and no details were provided to assessee. HELD : – Respondent authorities were to be directed

The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Form 2 and 3 for the Assessment Year 2024-25. Rule 12 has been amended to allow individuals and HUF, who are liable to tax audit under section 44AB, to verify return of income through electronic verification code (EVC). In the circular dated 31st January

Finance Minister Nirmala Sitharaman presented Union Budget 2024 in Parliament. This was an interim budget as it came just ahead of the Lok Sabha Elections. The honourable Finance Minister, while presenting Interim Budget 2024 on 1 February 2024, kept the tax slab rates unchanged for both new and old income tax regimes. Under the income tax laws, an individual