Minor discrepancy in the e-way bill would not attract penalty proceedings
The Hon’ble Allahabad High Court in M/s. Varun Beverages Limited. v. State of U.P. and Ors. [Writ Tax No. - 958 of 2019 dated February 2, 2023] has set aside the order imposing the penalty upon the...
Read More
No Service Tax can be levied on take-away/parcel food from restaurants
The CESTAT, New Delhi in Haldiram Marketing Pvt. Ltd. v. Commissioner, Central Goods and Service Tax [Service Tax Appeal No. 51555 of 2022 dated February 13, 2023] has set aside the demand order......
Read More
18% GST Leviable on Works Contract Services to Indian Railways; 12% on Works Contract Services Involving Predominantly Earthwork
The AAR, Karnataka in the matter of M/s S.K. Swami & Company [Advance Ruling No. KAR ADRG 05/2023 dated January 23, 2023] has ruled the rate of Goods and Services Tax (“GST”) @ 18% is exigible on work
Read More
Tally Prime software at a special price for ICAI members
We're pleased to announce that The Institute of Chartered Accountants of India (ICAI) has extended its MOU with Tally to provide further value to its Members in Practice through a continuous
Read MoreTDS Credit shall be given for the assessment year for which income is assessable
The Income Tax Appellate Tribunal, Delhi (“the ITAT”) in Archana Airways Ltd v. ITO [I.T.A. No. 8755/DEL/2019 dated November 2, 2022] held that Tax Deduction at Source (“TDS”) credit shall be given to
Read More
Interest paid on belated payments of service tax is allowable for deduction u/s 37(1) IT Act
The Income Tax Appellate Tribunal, Chennai (“the ITAT”) in Prince Holdings Madras (P) Ltd v. Deputy Commissioner of Income Tax [ITA No.: 524/Chny/2021 dated November 2, 2022] held that the interest
Read MorePayment of one-time premium was not chargeable to tax under Service Tax under Renting of Immovable property
The CESTAT bench of Ahmedabad (“the Tribunal”) in the case of Gujarat Power Corporation Ltd. v C.C.E. & ST (Service Tax Appeal No. 10193 of 2017) dated November 18, 2022, held that payment of one-time
Read MoreNo service tax payable on interest free security deposits taken from customer towards trading of shares
The CESTAT bench of Ahmedabad (“the Tribunal”) in the case of Marwadi Shares & Finance Ltd. v. C.C.E &S.T.-Rajkot (Service Tax Appeal No. 12087 of 2017) held that the Service Tax is not liable to be
Read MoreIn case of change of AO, newly appointed AO shall continue proceeding from the stage where they were left by earlier AO
The Hon’ble Supreme Court ("the Supreme Court”) in the case of Dy. Commissioner of Income Tax New Delhi v. M/s Mastech Technologies Pvt. Ltd. (Civil Appeal No. No. 8077 OF 2022) dated November 03, 202
Read MoreGST authorities lacks jurisdiction to examine correctness of credit transitioned from erstwhile tax regime
The Hon’ble High Court, Jharkhand (“the High Court”) in the case of M/s. Usha Martin Ltd. v. Additional Commissioner & Ors. (W.P.(T) No. 3055 of 2022) dated November 10, 2022, quashed the proceedings
Read MoreBombay HC orders restoration of GST registration cancelled u/s 29(1) of the CGST Act
The Hon’ble Bombay High Court (“the High Court”) in the case of M/s. Euro Pratik Sales Corporation [W.P No.3380 OF 2022 dated November 17,2022] allowed Petitioner to submit a physical application for
Read MoreWrit petition during Notice stage would frustrate tax administration
The Hon’ble Orissa High Court, (“the High Court”) in Sri Muna Pani v. State of Odisha (W.P.(C) No. 20996 of 2022) held that entertaining Writ Petition at the stage of notice would interrupt
Read More