Q-1 What is 43B(h) Ans- 43B(h) refers to a section of the Indian Income Tax Act, introduced in the Finance Act of 2023. It aims to ensure timely payments to Micro, Small and Medium Enterprises (MSMEs). Q-2 When it is applicable? Effective Date: April 1, 2024 (assessment
Refund of tax recovered from the recipient- In a recent judgment the court has allowed the refund of amount recovered from the buyer. In this case the supplier defaulted in payment of tax. the deptt recovered the same from the buyer. Lateron the supplier also
Rectification may be misjudged with the rectification of returns. So first thing I would like to clarify is that here we are going to discuss about the rectification of orders already passed by the GST department. 1- What are the provisions of rectification of orders
Table of Contents Issue in jurisdiction in GSTObservation of court-Read/download the copy of judgment here- Issue in jurisdiction in GST Since the starting of GST the issue of proceedings by the authorities not assigned the TP is disputed. In many cases the courts are observing
The observation of Jharkhand High court- The Jharkhand High Court has issued a directive to the State government, instructing it to release 19 years’ worth of pending salary to an employee who was unlawfully terminated from their position within the Department of Industries (Handloom, Resham,
Summary of Delhi HC judgment over Congress party plea- The Delhi High Court recently made a decision to dismiss pleas filed by the Indian National Congress regarding the initiation of income tax re-assessment proceedings against it for the years 2014-15, 2015-16, and 2016-17. The division
In this case rectification was allowed by the court. We have very strong jurisprudence related to the rectification in bona fide cases. Table of Contents Case Details-Facts-Observation-Read a copy of judgment- Case Details- Start Engineers Pvt Ltd Versus Union of India Category – CE Rectification
When the courts allowed the rectification- The scheme of GST always allowed the rectification in return. But in many cases the portal restricted it. But initial hiccups of GSTIN made it difficult. In many cases the taxpayer was not being able to rectify their mistake.
No ITC reversal- In a recent judgment the court has observed that the ITC shouldn’t be denied merely on fact that the registration of supplier is cancelled. The contentions of the petitioner were rejected entirely on the ground that the petitioner should have proved the
When registrations are cancelled by the departments- In many cases the department is cancelling the registrations of suppliers. There can be various stances when a registration can be cancelled.- When the supplier is not filing the returns When the supplier is found to be non
