TAX UPDATES

Latest News about the TAX and GST 

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48th GST Council Meeting will be held on 17th December

The Central Government has informed that, the 48th Meeting of the GST Council will be held on 17th December, 202

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VAT Re-Assessment merely On Ground of Audit Objection is Invalid: Orissa HC

A division bench of the Orissa High Court, while invalidating a VAT re-assessment order.

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Classification of service under Works Contract Service beyond scope: CESTAT invalidates SCN

The Principal Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ), New Delhi invalidated Show Cause Notice ( SCN )

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Central Bureau of Narcotics seizes 272 kg illicit Opium worth Rs 14 cr from inter-state Drug Cartels

In continuance of Anti-Drug operations, officers of Central Bureau of Narcotics ( CBN ) Neemuch, have busted inter-state drug cartels

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Income Tax Officer Arrested for Accepting Bribe of One Lakh Rupees: CBI

The Central Bureau of Investigation has arrested an Income Tax Officer (ITO), Mandsaur (Madhya Pradesh) for demanding & accepting bribe .

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Errors and Discrepancies in Income Tax Returns: FPIs and AIFs receive Notices

Due to several errors and discrepancies in the income tax returns, the foreign portfolio investors (FPIs) and alternative investment funds (AIFs) .

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Scam Alert: Fake CA Certificates Used to Set Up Industrial Units in Sonepat

In a major revelation, an alleged scam has been reported in getting consent to establish (CTE) and consent to operate (CTO) industrial units.

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Rental Income can't be brought to Tax When Assessee not entered into any Lease Agreement with Tenants: ITAT

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Rental income can't be brought to tax when assessee

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Two Fake GST Officers Arrested in Hyderabad

The Balanagar Special Operations Team busted a racket involving two persons who allegedly impersonating and cheated people by masquerading

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Madras HC quashes Money Laundering case against Jagathrakshakan, MP

The Madras High Court has quashed a case registered under the Prevention of Money Laundering Act (PMLA) by the Enforcement Directorate ( ED )

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ICAI to Probe on Financial Disclosures of Byjus

The Institute of Chartered Accountants of India (ICAI) has started looking into the financial disclosures made by edutech major Byju's amid concerns

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GST Officer Arrested in Gujarat for Demanding and Accepting Bribe: CBI Launches Proceedings

The Central Bureau of Investigation has arrested a Superintendent, CGST(Audit), Audit Circle-VI, Gandhidham (Gujarat) for demanding.

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PAN Cards to Become Inoperative from 1st April 2023, If Not Linked with Aadhaar: CBDT

The Central Board of Direct Taxes (CBDT) has informed the taxpayers through the official twitter handle of the income tax portal that the PAN

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Manufacturer of ‘Polyurethane Foam’ Used for Making Car Seats Eligible for Income Tax Deduction u/s 80-IB: Supreme Court

A two-judge bench of the Supreme Court, on Thursday held that a manufacturer of ‘polyurethane foam’ used for manufacturing of car seats .

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Relief to HP: ITAT allows Deduction on ESOP Cross Charges paid to Overseas Ultimate Holding Company, allowable as Expenditure

While granting relief to M/s. Hewlett Packard (India) Software Operation Pvt Ltd (HP) the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT)

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Travelling Expenses as being incurred wholly and exclusively for the purpose of Business can be allowed as Deduction: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the travelling expenses being incurred wholly and exclusively for business.

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Govt Exempts Motor Car for Use of State Governors from Customs Duty

The Ministry of Finance has notified that the Motor car for the use of Governor of the State would be eligible for customs duty exemption.A notification