Tax
GST Registration Can't be Cancelled Retrospectively For Non-Filing Of Returns: Delhi High Court
The Delhi High Court has held that GST registration cannot be cancelled with retrospective effect for mere non-filing of returns.The bench of Justice Sanjeev Sachdev and Justice Ravinder Dudeja has observed that simply because a taxpayer has not filed the returns for some period does not mean that the taxpayer's registration is required to be cancelled, with a retrospective date also covering the period when the returns were filed and the taxpayer was compliant.The petitioner/assessee impugned...
Excise, Revenue And Other Departments Will Not Have Priority Over Secured Creditors: Himachal Pradesh High Court
The Himachal Pradesh High Court has held that departments of the state, including excise and revenue, will not have priority over the secured creditors' debt.The bench of Justice Tarlok Singh Chauhan and Justice Satyen Vaidya has observed that the dues of the secured creditor, i.e., the appellant bank, will have priority over the dues of the Central Excise Department, as even after the insertion of Section 11E in the Central Excise Act, 1944, w.e.f. April 8, 2011, and the provisions contained in...
Extension Of Limitation Period Under Section 168A Of GST Act; Punjab And Haryana High Court Issues Notice
The Punjab and Haryana High Court has issued a notice to the government in a plea challenging the extension of the limitation period under Section 168A of the GST Act.The bench of Justice G.S. Sandhawalia and Justice Lapita Banerji has stayed the passing of final orders in Section 73 cases for the fiscal year 2018-19. Section 73 deals with the determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilised for any reason other than fraud or any...
CBIC Imposes Additional Duty On Customs On Spent Catalyst Or Ash Containing Precious Metals, Gold Or Silver Findings And Coins Of Precious Metals
The Central Board of Indirect Taxes and Customs (CBIC) has imposed an additional duty on customs (AIDC) on spent catalysts or ash containing precious metals, gold or silver findings and coins of precious metals.The amendment imposes Additional Duty on Customs (AIDC) on items falling under tariff headings 7112, 7113, and 7118. The revised rates are set at 4.35% for spent catalyst or ash containing precious metals (7112), 5% for gold or silver findings (7113), and 5% for coins of precious metals...
Kerala GST Dept. Issues Guidelines On Filing Appeals In Absence Of GSTAT
The Kerala GST department has issued the guidelines on filing appeals in the absence of the Goods and Service Tax Appellate Tribunal (GSTAT).Sub-section (1) of Section 112 of CGST/SGST Act provides that any person aggrieved by an order passed against him under section 107 or 108 of the Act may file an appeal to the Appellate Tribunal against such order within three months from the date on which the order sought to be appealed against is communicated to him.As the constitution of the said GST...
Indirect Tax Weekly Round-Up: 14 To 20 January 2024
Delhi High Court Delhi High Court Directs Customs Commissioner To Release Amount After Realising Redemption Fine, Penalty From Seized Foreign Currency Case Title: Oguljeren Hajyyeva Versus Commissioner Of Customs The Delhi High Court has directed the Customs Commissioner to release the remaining amount after realising the redemption fine and penalty from the seized foreign currency. Allahabad High Court UPGST | Truck Is Capital Asset Of Transporter, Seizure Without Notice...
Direct Tax Weekly Round-Up: 14 To 20 January 2024
Direct Tax Weekly Round-Up: 14 To 20 January 2024 Supreme Court Taxpayer Entitled To Hearing On Merits If Appeals Were Dismissed By HC For Delay In Filing Paper-Book: Supreme Court Case Title: Herbicides India Limited verses ACIT While setting aside the Rajasthan High Court orders, the Supreme Court restored the assessee's appeals by condoning the delay in filing the paper-book before High Court and observed that the assessee is entitled to have his appeals heard on merits. ...
CBIC Extends Exemption Deadline From Deposits For Goods U/S 51A(4) Of The Customs Act till March 01, 2024
The Central Board of Indirect Taxes and Customs (CBIC) has extended the exemption from Deposits for Specified Goods under section 51A(4) of the Customs Act till March 01, 2024.Earlier, the deadline for exemption from Deposits for Specified Goods under section 51A(4) of the Customs Act was till January 20, 2024.The extension of exemption applies to goods imported or exported in customs stations where customs automated systems are not in place; accompanied baggage; and deposits other than those...
GSTN Issues Advisory On Payment Through Credit Card/Debit Card And UPI
The Goods and Service Tax Network (GSTN) has issued an advisory on payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI).To facilitate payment through a credit card (CC) or debit card (DC) and the Unified Payments Interface (UPI), two new facilities of payment have now been provided under e-payment in addition to net banking.Payment through CC/DC/UPI can be made through Kotak Mahindra Bank, irrespective of the CC/DC issued by any Indian bank. Other banks...
Budget 2024-25: CBIC Issues Advisory On Changes In ICES
Under the Central Board of Indirect Taxes & Customs, the Directorate General of Systems and Data Management has released an advisory regarding the impending Union Budget 2024–25.The Union Budget 2024-25 is expected to be presented in the Parliament on February 01, 2024. Consequent to the same, the exercise of updation of Notifications and Tariff Directories in ICES would be undertaken by nominated budget officers from Directory Management sites under the supervision of the Directorate...
Determination Of Value Of Excisable Goods For Assessment Falls Within Exclusive Jurisdiction Of Supreme Court: Jharkhand High Court
The Jharkhand High Court has held that the determination of the value of the excisable goods for the purpose of assessment falls within the exclusive jurisdiction of the Supreme Court of India under Section 35L of the Central Excise Act, 1944.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that the appeals are not maintainable, and the same would lie before the Apex Court under Section 35L, as the jurisdiction of the High Court in such matters is specifically...
S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that exemption under Section 54F of the Income Tax Act is not available on property predominantly being used for religious purposes.The bench of R.K. Panda (Vice President) and Laliet Kumar (Judicial Member) has observed that the property is predominantly being used for religious purposes, namely mosques, orphanages, and staff quarters. Therefore, it does not fit within the definition of a residential house as contemplated...