Tax
GSTN Launches Reward Scheme, “Mera Bill Mera Adhikar” Mobile App
The Goods and Service Tax Network (GSTN) has notified the GST reward scheme, the “Mera Bill Mera Adhikar” mobile app.This plan aims to promote the custom of consumers requesting receipts and invoices for all purchases. The scheme's goal is to shift people's cultural and behavioural perceptions of asking for a bill as a right and entitlement.This scheme will be implemented from 1st September 2023 initially in the States of Gujarat, Assam, Haryana and UTs of Puducherry and Daman & Diu and...
In Hi-Tech “Click Of Mouse” Age Some Income Tax Officials Are Yet To Come Out Of Their Love For “Snail Pace” Style Of Working: Delhi High Court
The Delhi High Court has rejected the appeal of the income tax department and refused to condone the delay of 498 days."Even in this hi-tech "click of the mouse" age, some of the government officials are yet to come out of their love for the "snail pace" style of working. The worst is when such delays are aimed at simply completing formalities so that the government appeals get dismissed on the grounds of limitation, to the intended benefit of the other party. Whatever the reason, it is either...
18% GST Payable On Foam Cup Pad: AAR
The Uttar Pradesh Authority of Advance Ruling (AAR) has ruled that 18% GST is payable on foam cup pads.The bench of Amit Kumar and Harilal Prajapati has observed that the foam cup pad’ made of polyurethane, glue, and fabric, is to be classified under heading 39262091.The applicant is in the business of manufacturing highly specialised foam cup pads on state-of-the-art machines using raw materials including foam made from polyurethane, glue, and fabric.The applicant has sought an advance ruling...
ITC Admissible On GST Paid On Inward Supply For Fixing Of Plant And Machinery To Earth By Structural Support: AAR
The Rajasthan Authority of Advance Ruling (AAR) has held that Input Tax Credit (ITC) The Rajasthan Authority of Advance Ruling (AAR) has held that input tax credit (ITC) is admissible on GST paid on inward supply for fixing plant and machinery to earth by foundation or structural support.The bench of Umesh Kumar Garg and Mahesh Kumar Gowla has observed the provisions of Sections 16 and 17 of the CGST Act, 2017, and held that the input tax credit of GST paid on the inward supply of structural...
Himachal Pradesh High Court Stays Service Tax-Cum-Divisional Commissioner’s Order As GSTAT Not Constituted
The Himachal Pradesh High Court has stayed the service tax-cum-divisional commissioner’s order as GSTAT was not constituted.The bench of Justice Sandeep Sharma has observed that in the absence of GSTAT i.e., the appellate tribunal, the petitioner had no option but to approach the High Court by way of a petition filed under Article 227 of the Constitution of India, which otherwise empowers the Court to exercise supervisory powers over all the courts subordinate to it, including the authorities...
Pre-Deposit Made Before OHA Can’t Be Adjusted Against Any Other Tax Dues: Delhi High Court Allows Refund To Flipkart India
The Delhi High Court, while allowing the refund to Flipkart India, held that a pre-deposit made before the Objection Hearing Authority (OHA) cannot be adjusted against any other tax dues.The bench of Justice Yashwant Varma and Justice Dharmesh Sharma has observed that Section 38(2) of the Delhi Value Added Tax Act, 2004 (DVAT Act) uses the expression "recovery of any other amount due under this Act". The Commissioner, in terms of Section 38(2), is thus entitled to apply any amount found to have...
DGFT Updates List Of Banks Authorized For Gold And Silver Imports Under Appendix 4B Of Handbook Of Procedures, 2023
In a recent development, the Directorate General of Foreign Trade (DGFT), operating under the Ministry of Commerce & Industry, Government of India, has released an updated list of banks authorized to import gold and silver under Appendix 4B of the Handbook of Procedures, 2023.Through Public Notice No. 28/2023, dated August 18, 2023, the DGFT has officially issued the revised list of banks, in accordance with the powers conferred under paragraph 1.03 & 2.04 of the Foreign Trade Policy...
DGFT Amends Export Policy Of Non-Basmati White Rice
The Directorate General of Foreign Trade (DGFT), operating under the Ministry of Commerce & Industry, Government of India, has issued a significant Trade Notice, Trade Notice No. 23/2023-DGFT, dated 18th August 2023, outlining a crucial amendment to the export policy concerning Non-Basmati White Rice (HS Code 1006 30 90).The Trade Notice, highlights that the Export Policy of Non-basmati white rice (Semi-milled or wholly milled rice, whether or not polished or glazed: Other) under HS code...
CBDT Notifies Rule For Determination Of Value Of Perquisite In Respect Of Residential Accommodation Provided By Employer
The Central Board of Direct Taxes (CBDT) has introduced an amendment to the Income Tax Rules, 1962, relating to the valuation of perquisites for residential accommodation provided by employers. The amendment, effective from September 1, 2023, brings changes to the categorization and limits of cities and populations, along with revised perquisite rates based on the 2011 census.The official notification from the CBDT highlights that Finance Act, 2023 brought in an amendment for the purposes of...
Government Imposes 40% Export Duty On Onions To Stabilize Domestic Market
In a move aimed at curbing the potential rise in onion prices and ensuring adequate supplies in the domestic market, the government has announced the imposition of a 40% export duty on onions. The decision was communicated by the Ministry of Finance (Customs) through Notification No. 48/2023-Customs, which takes immediate effect and will remain in force until December 31, 2023.Citing concerns over the anticipated increase in onion prices as September approaches, the government has taken this...
IGST Payable On Supplier Of Online Money Gaming Located Outside India
The Ministry of Law and Justice has notified the Integrated Goods and Services Tax (Amendment) Act, 2023, by which the term ‘online gaming’ under Section 2(80A) of the CGST Act, 2017 and Section 2(17)(vii) of the IGST Act, 2017 is defined.As per the amendment, online gaming excludes online money gaming as defined in clause (80B) of Section 2 of the Central Goods and Services Tax Act, 2017.The amendment inserted the new Section 14A, which deals with the special provision for specific actionable...
Tax Cases Weekly Round-Up: 13 August To 19 August, 2023
Supreme Court Income Tax Settlement Commission's Purpose Is To Give Assessee Chance To Disclose Undisclosed Income To Seek Immunity : Supreme Court Case Title: SHREE NILKANTH DEVELOPERS v. PRINCIPAL COMMISSIONER OF INCOME TAX Citation : 2023 LiveLaw (SC) 648 A Division bench of the Supreme Court, while hearing an appeal, discussed the objective and purpose behind setting up a Settlement Commission under the Income Tax Act 1961. Excise Duty Exemption | To Determine...