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CBIC Resumes Bill of Entry Filing Services: Enhancing Customs Clearance Efficiency
Introduction: The Central Board of Indirect Taxes and Customs (CBIC) has taken proactive steps to resume Bill of Entry filing services following the incorporation of budget-related changes in the Customs Electronic Data Interchange (EDI) system. CBIC’s Response to Budget-Related Changes: In response to recent budget
No Penalty if the documents are produced before passing the order
Comment There were differences in various documents but that was corrected by the taxpayer. In case the correct documents are presented before the authorized before passing the order then it should be accepted by the authorities. Details of the case Citation M/S Axpress Logistics India
CA Shafaly GirdharwalFeb 2, 2024Deptt to send notices to uneducated people in hard copies -HC
Uneducated people are not accustomed to handle notices through Emails, Department to work out possibilities of sending notices through Registered Post. Hon’ble Madras High Court in case of M/S. Sri Ganesh Constructions, Rep. By Its Partner G. Meenakshi Sundaram Versus The Assistant Commissioner (ST)
CA Rachit AgarwalFeb 1, 2024Digital Tax Proposals: Preparing E-commerce Businesses for Change
Abstract: Digital tax proposals have significant implications for e-commerce businesses. This article explores the impact of proposals, strategies for compliance, and optimizing tax strategies. Introduction: Digital tax proposals aim to capture revenue from online sales, affecting e-commerce businesses. This article examines the implications of proposals
Demystifying Advance Tax Provisions: An In-depth Analysis of Sections 207 to 219 of the Income Tax Act, 1961
Deciphering Advance Tax Provisions: A Deep Dive into Sections 207 to 219 of the Income Tax Act, 1961: Understanding the nuances of the Income Tax Act, 1961, particularly Sections 207 to 219, is indispensable for taxpayers aiming to grasp the intricacies of Advance Tax provisions.
Contract Law in the Digital Age: Navigating the Rise of Digital Sales
In the digital age, the landscape of commerce has undergone a significant transformation with the rise of e-commerce platforms and digital sales. As consumers increasingly turn to online channels for their purchasing needs, contract law has had to adapt to address the unique challenges and
Penalty in absence of any evasion is bound to drop
Comment In many judgments it is clarified that there should not be a levy of penalty without an intention to evade tax. In this judgment court again clarified that the penalty should only be levied when there is an intention to evade tax. One more
CA Shafaly GirdharwalJan 31, 2024These reforms will change GST for ever
As anticipation builds for the Interim Union Budget 2024, a significant announcement is expected to shake up the landscape of Goods and Services Tax (GST) in India. The buzz surrounds proposed reforms aimed at enhancing compliance and easing the burden on businesses, particularly small vendors.
“Streamlining GST Notices and Orders: A Revamped Portal Experience for Taxpayers”
In recent times, many taxpayers using GST portals found themselves inundated with notices and orders from the GST Department. This surge was due to the expiration of the limitation period for issuing notices and orders under Section 73 of the CGST Act 2017. Under the
“New Tax Rules Unveiled: Simplifying Income Tax Returns for Companies”
The Central Board of Direct Taxes (CBDT) has recently notified the Income Tax Return (ITR) Form ITR-6 for the Assessment Year (A.Y.) 2024-25, which will come into effect from April 01, 2024. This notification also includes the Income-tax (First Amendment) Rules, 2024, which further amend
“Decoding Cryptocurrency Taxation: A Guide for Investors in Uncharted Waters”
Demystifying Cryptocurrency Taxation: A Guide for the Navigating Investor The meteoric rise of cryptocurrencies has ignited excitement and intrigue, attracting legions of individuals eager to dive into the decentralized waters. However, amidst the thrill of potential gains lurks a lurking beast: taxation. For the uninitiated,
High court stayed 18 crore demand on tax paid as IGST
In a recent judgement the court has stayed the notice asking for the tax amount of Rs. 18 Cr for the sale of vehicles. The trucks sold to the inter state customers was charged for IGST. Lateron the department raised the issue and asked to
CA Shafaly GirdharwalJan 30, 2024