Expert Knowledge,
Straight from Practitioners.
Tax tips, legal guides, and financial advice written by the same verified CAs, Advocates, and Advisors you can consult on ConsultEase.
ITC cant be rejected only because it was not claimed in GSTR 3B-HC
Comment- This is one of the controversial judgments in GST. As we all know that many of us are deprived of our valid input tax credit because it was not claimed in GTSR 3b. This is the normal understanding that it should be claimed in
CA Shafaly GirdharwalFeb 29, 2024“Madras HC: CENVAT Credit for Sister Unit Electricity”
Introduction: The Hon’ble Madras High Court recently ruled in the case of India Cement Limited v. Commissioner of Customs regarding the eligibility of CENVAT credit for electricity supplied to sister units. This landmark decision addresses the interpretation of relevant provisions under the Central Excise Act
“Customs Crackdown: Seizure and Destruction of Smuggled Contraband”
Introduction: In a significant operation against the illegal import of foreign-origin cigarettes and other contrabands, the Customs Commissionerate in Indore, under the Bhopal Zone, executed the destruction of a substantial quantity of smuggled goods. This operation targeted the unlawful trafficking of cigarettes and related products,
Exporters receiving payment via Paypal are eligible for GST refund- HC
Comment- Every exporter using Paypal should be aware of this judgment. VEry important as in many cases the refund of tax on export was denied if the payment is received in rupees. In the case of an amount received via Paypal, it is received into
CA Shafaly GirdharwalFeb 29, 2024Government should reduce the number of notices issued in Income Tax and GST
At present, the taxpayers of the country are not only troubled but also unhappy and feeling offended by the continuous and large number of notices related to various issues related to both GST and Income Tax taxes. Tax assessment and scrutiny of returns in GST
CA Sudhir HalakhandiFeb 29, 2024“Madras HC: Medical Reasons Valid for GST Appeal Delay”
Introduction: The Hon’ble Madras High Court, in the case of M/s. Great Heights Developers LLP v. Additional Commissioner Office of the Commissioner of CGST & Central Excise, Chennai, allowed an appeal before the Appellate Authority, emphasizing the validity of medical reasons for delay in filing
Fake Inverted rated refund using hand pumps
Introduction: A recent scam has come to light in Uttar Pradesh, where fraudsters have been using hand pumps to claim fake refunds under the Inverted Duty Structure (IDS) mechanism of the Goods and Services Tax (GST). Understanding the Inverted Duty Structure (IDS): The IDS allows
Streamlining Aadhaar-Based GST Registration: Advisory No. 625
Introduction: Advisory No. 625 was released by the Goods and Services Tax Network (GSTN) on February 28, 2024, aiming to address instances of delayed registration despite successful Aadhaar authentication among specific taxpayers. Rule 9 of CGST Rules, 2017: The advisory highlights Rule 9 of the
Supreme Court Upholds Pre-Deposit Requirement in Central Excise Appeals
Introduction: In the case of Kantilal Bhaguji Mohite v. Commissioner, Central Excise and Service Tax-Pune III [Special Leave to Appeal (C) No. (s). 11203/2019 dated February 14, 2024], the Hon’ble Supreme Court dismissed the Special Leave Petition (SLP) filed by the petitioner against the judgment
Hyderabad Police Detain YouTube Educator for Alleged Chartered Accountant Scam
Introduction: In a recent development, Hyderabad law enforcement has apprehended Srinath Rathi, a 29-year-old proprietor of a YouTube educational channel, on accusations of deceiving chartered accountants. Rathi purportedly tempted them with fictitious promises of substantial investment returns, leading to a combined loss of Rs 2.48
Coal Sector’s Economic Contribution: A Vital Pillar of Revenue Generation
Introduction: The coal sector plays a pivotal role in India’s economy, contributing significantly to both the Centre and state governments’ revenue through various channels such as GST, royalties, and other levies. The government’s recent statement emphasizes the substantial financial contribution of the coal industry, highlighting
Telangana CM’s Initiatives: Tackling Revenue Shortfall and Layout Regularisation
Introduction: Telangana Chief Minister Revanth Reddy recently chaired a crucial review meeting to address the state’s revenue shortfall and discuss the regularisation of unapproved layouts. The meeting shed light on pending dues from the Union government and the government’s decision to regularise unauthorised layouts to